Heat pumps could soon cost the same as gas boilers after a major deal was secured by Octopus Energy. This means people will be able to slash up to £150 off their energy bills if they use the heat pump at the right times.
In a multi-million pound deal, Octopus has made a controlling investment in heat pump manufacturer Renewable Energy Devices (RED) and is looking to make heat pumps that are “quiet, highly efficient” and come in a range of sizes to fit different UK homes, reports The Express.
According to their statement: “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.”
