› UKTH forums › 📺 White & Brown Goods › Boilers Gas/Heat Pump › Cost of heat pumps to be slashed as Octopus Energy strikes new deal Reported by MSN.com A UK energy firm has struck a deal that it says will significantly reduce the cost of heat pumps. Octopus Energy has made a controlling investment in...
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- April 16, 2022 at 9:12 pm #18698
Reported by MSN.com
A UK energy firm has struck a deal that it says will significantly reduce the cost of heat pumps. Octopus Energy has made a controlling investment in heat pump manufacturer Renewable Energy Devices (RED).
It said that, as a result, it was looking to make heat pumps that are “quiet, highly efficient” and come in a range of sizes to fit different UK homes.
The company said: “When bought with the government’s new Boiler Upgrade Scheme, they will cost about the same as a gas boiler.
“By scaling production, the partners are planning to bring costs down even further, with a view to eliminating the need for government support over time.”
The company also announced plans to incorporate its “smart grid” technology into its heat pumps.
It said: “This will enable the pumps to make the most of spare capacity on the electricity grid and distribution networks, and reduce the load at peak times – and lower running costs for customers.”
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