- Lloyds Banking Group, Octopus Energy and Halifax are entering a strategic partnership to introduce air-source heat pumps.
- This is a part of the UK Power Network’s “Neat Heat” project.
Lloyds Banking Group, Octopus Energy and Halifax are entering a strategic partnership to introduce air-source heat pumps for Halifax customers and boost the rollout of zero-carbon heating with the hope that the integration of heat pump installations will be much faster. This agreement will allow Halifax customers who use mortgage borrowing to finance the installation of heat pumps which can be installed at £3,000 instead of £8,000 via the government’s Boiler Upgrade Scheme.
The Chief Product Officer at Octopus Energy, Rebecca Dibb-Simkin, said, “We’re always looking for ways to help people save money while accelerating the shift to a clean energy future. The pilot with Lloyds Banking Group comes at a crucial time for consumers facing a dual climate and cost of living crisis. It no longer needs to be a question of prioritising one over the other: heat pumps are greener than gas boilers, and thanks to Octopus, the government and Lloyds, they can be cheaper too.
This is a part of the UK Power Network’s “Neat Heat” project, in collaboration with OVO and clean technology company tepeo. Octopus Energy, OVO Energy customers, are also set to be beneficiaries of this new scheme that could see zero-emission boilers(ZEBs) installed free in the South East and the East of England. The trial will last for 12 months, and from the point at which the customer signs up, the participants could cut their carbon emissions by up to 40% per annum.