Octopus Vitality’s Zero Payments properties scheme is providing potential owners the possibility to keep away from paying any power payments for five to 10 years through the use of inexperienced know-how.
The “Zero Payments” properties are outfitted with photo voltaic panels, warmth pumps and good power methods, offering 10 MWh of free electrical energy yearly – sufficient to fulfill the power wants of a well-insulated property.
As we proceed to see power value rises, this scheme might provide monetary reduction, with plans to roll out to 100,000 properties throughout the UK. This text examines the way it works, how a lot electrical energy is accessible, and who may benefit.
What are Octopus Vitality’s ‘Zero Payments’ properties?
‘Zero Payments’ properties are properties designed and outfitted to function with out conventional power payments. They’re fitted with state-of-the-art inexperienced know-how that generates and manages their power wants, together with: warmth pumps, photo voltaic panels, photo voltaic batteries and good meters.
The properties are additionally designed with excessive ranges of insulation to cut back power consumption. Octopus Vitality claims that owners is not going to pay power payments for five to 10 years, relying on the house, beneath its Zero Vitality pricing plan.
How do ‘Zero Vitality’ payments work?
The ‘Zero Payments’ idea operates by making certain that the properties generate most, if not all, of their very own power via photo voltaic panels and different inexperienced applied sciences.
Any surplus power generated is saved in dwelling batteries or fed again into the grid to steadiness the general power system.
Octopus Vitality makes use of its superior know-how platform, Kraken, to handle and optimise the house’s power manufacturing and consumption. This goals to make sure that:
- Properties eat power when it’s least expensive or greenest, serving to scale back reliance on non-renewable sources.
- The properties are optimised to make use of much less power via superior insulation and environment friendly applied sciences, which means most will keep beneath the free power threshold.
Residents obtain 10 megawatt-hours (MWh) of free electrical energy yearly, which Octopus estimates will cowl the power wants of a well-insulated three-bedroom home. Any power use past that restrict will likely be charged at common charges.
How a lot free electrical energy do you get?
Every ‘Zero Payments’ house is allotted 10 megawatt-hours (MWh) of free electrical energy per 12 months.
Whereas the typical UK family makes use of roughly 14.2 MWh yearly, these properties are designed to be extremely environment friendly, consuming round 6 MWh a 12 months.
This decrease consumption is made attainable by options like photo voltaic panels and warmth pumps. If the family makes use of greater than the allotted 10 MWh, they are going to be charged for the additional power. Additionally, electrical energy for charging electrical autos just isn’t coated by the scheme.
Who can profit from Octopus Vitality’s ‘Zero Payments’ properties?
Though the ‘Zero Payments’ properties scheme is principally utilized in new properties, there are plans to increase the scheme with Octopus Vitality claiming in six years 100,000 may benefit. Those that might use the scheme are:
- Builders: The ‘Zero Payments’ scheme primarily targets patrons of new-build properties designed with cutting-edge energy-efficiency options. Main housebuilders, together with Vistry Group, Bellway, and Persimmon, are actively rolling out these properties throughout the UK. For example, Bellway has dedicated to delivering 250 ‘Zero Payments’ properties in Bedfordshire as a part of this initiative.
- Renters and shared house owners: The scheme just isn’t restricted to non-public owners. By means of partnerships with housing associations like Platform, Clarion, and SNG, ‘Zero Payments’ properties are additionally obtainable for hire and shared possession.
- Current owners: Along with new builds, Octopus Vitality is working to increase the scheme to retrofit older properties. They estimate that roughly 500,000 properties constructed since 2013 might be upgraded to fulfill the ‘Zero Payments’ requirements.
Greg Jackson, Founding father of Octopus Vitality, claims: “In simply six years, 100,000 owners, households, and {couples} might be dwelling with out ever having to think about an power invoice. Along with main builders, we’re constructing a brighter future the place greener dwelling is the cheaper choice, not the premium.”