10,000 UK homes may not have to pay energy bills in 7 years time
Octopus Energy has expanded into the solar market as part of plans to make 10,000 homes "zero bills".
The “Octopus Zero” tariff has been trialled with Ilke Homes in Essex, which saw 22 eligible homes put on the market.
The scheme allows new homes kitted out with the right combination of renewable energy sources such as solar panels, home batteries, and heat pumps to have five years off from paying energy bills.
Octopus now wants to increase the number of "zero bills" homes to 10,000 homes by 2030.
To help it reach this figure, the energy company says it is now installing solar panels, as part of its catalogue of home energy technology.
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Two tenants are set to move into the first "zero bills" homes from February 2023.
Octopus Energy's "Octopus Zero" tariff aims to have 10,000 homes energy bill free by 2030 (AFP via Getty Images)At the moment, the energy firm is focusing its new “Octopus Zero” tariff on new homes by working with housing developers to build houses that fit the zero spec for the tariff.
However, later on down the line Octopus hopes to be able to include all homes which have solar panels, heat pumps and battery storage.
The firm is calling on housing developers across the UK to join the scheme and make "zero bills" the new standard.
If your home fits the spec, the energy supplier will help you "optimise" the household's consumption with specific technology and export the energy you create in exchange for a zero bill.
The development of Octopus Zero started in 2021 when Octopus Energy CEO Greg Jackson met with iIke Homes CEO Giles Carter (Bloomberg via Getty Images)The Octopus Zero tariff began its development in 2021, after the firm's CEO Greg Jackson met up with the CEO of ilke Homes, Giles Carter where they discussed the idea of having zero-carbon homes.
To help its plan, Octopus has recently announced it is to start installing solar panels to help its customers reduce their energy bills.
The firm will be doing this through its engineering arm, Octopus Energy Services, which already installed electric vehicle chargers, air-source heat pumps and smart meters.
The new service is launching across the Midlands and the South hoping to expand it nationwide within the first year.
Octopus aims to complete around 5,000 solar panel installations throughout 2023.
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In addition, Octopus customers will be able to choose from a range of solar batteries which will allow them to store the energy they produce through their solar panels and sell it back to the grid.
John Szymik, CEO of Octopus Energy Services, said “Given the success, we have had in scaling and installing huge swathes of smart, green home energy tech, we are chomping at the bit to begin installing the last piece of the puzzle, solar photovoltaic.
“If more homes in the UK produce clean, green solar energy, we will be able to accelerate the energy transition and bring down system prices for everybody by lowering system costs.
“In true Octopus style, we’ll focus on reducing solar installation times down to record levels, hoping to soon make solar panels affordable for everyone.”
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