Energy crisis lifeline: Octopus Energy strikes huge UK heat pump deal to slash cost by 70%

In light of this, Octopus Energy, a UK based energy firm has a struck major deal that it says will make heat pumps significantly cheaper.

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.

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.”

The company also announced plans to incorporate its “smart grid” technology into its heat pumps.

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Article source: https://www.express.co.uk/news/science/1595042/energy-crisis-lifeline-octopus-uk-heat-pump-huge-deal-slash-costs