Octopus Energy throws UK energy crisis lifeline with plan to guarantee homebuyers NO BILLS | Science | News

As the country grapples with a crippling crisis due to the spiralling global cost of gas, Britain has been scrambling to wean itself off fossil fuels so consumers can avoid forking out extra cash. Now, a renewable project between Octopus and Ilker will let homebuyers purchase homes with solar panels, battery storage and air source heat pumps so that they are self-sufficient.

This means the homes will not be powered by gas, and in turn, homeowners would only have to pay energy bills if they use over 10MWh of energy.

But Octopus Energy’s CEO Greg Jackson estimates that this is treble the annual usage that standard households use.

And any excess energy will be able to be fed back to the grid too.

Giles Carter, Ilke’s chief executive, said that buyers will have to pay an extra £8,000-£9,000 for these renewable installations.

The project will be piloted with a pair of two-bedroom, semi-detached family homes in Essex.

But by 2030, the companies plan to extend the scheme to more than 10,000 homes.

Mr Jackson said: “We think [the homes] could be self-sufficient forever. That’s a blueprint.

“Sooner or later, you start to be able to transform an energy system when you are doing that.”

While Octopus is guarantying zero bills for a 12-month period, both company heads expect that the zero tariff will become permanent further down the line.

Mr Carter said: “By 2030, we hope there is zero incremental cost.”

READ MORE: Energy crisis: Sturgeon slapped down over North Sea oil power grab

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