Octopus Energy launches a £3,000 heat pump

Octopus Energy has launched its own smart heating system, which comprises more affordable heat pumps. The system will be accessible in December and will consist of the ‘Cosy 6’ heat pump, ‘Cosy Hub’, a home controls system, ‘Cosy Pods’ room sensors, and a smart tariff. Reportedly, the whole system will be free for homes that are already well-insulated and do not require any additional work to improve their energy efficiency through the UK Government’s Boiler Upgrade Scheme (BUS). After the BUS, houses that require modifications, such as new radiators, plumbing, or a hot water tank, will receive the system for about £3,000.

Purchasing and installing an air-source heat pump costs between £7,000 and £15,000 in the UK, though this cost can be reduced by up to £5,000 if a home is eligible for the BUS. The Cosy 6 heat pump, with a capacity of 6 kW, will initially enter the market. Furthermore, larger models will be developed over the next six months.

In May 2023, Octopus Energy committed to investing in three wind farms in France with a total capacity of 49 MW. Octopus made the investment as part of its plan to invest $1.09 billion in the French green energy industry between 2023 and 2025. The three wind farms, Croix Erable, Bertaut, and Le Langrois, provided enough clean energy to power 30,000 French households. The projects were located in the Vienne and Haute Marne regions of France and are currently under construction.