- Social housing tenants could save up to £200 a year on energy bills
- Landlords to earn money by exporting extra solar power to the grid
- First-of-its-kind tariff shares the benefits of clean energy fairly between tenants and landlords
- Octopus Energy, the UK’s biggest energy supplier, is shaking things up with ‘Tenant Power’ – a brand-new tariff designed to help social housing tenants save money while encouraging landlords to go green.
The game-changing new tariff gives tenants in social, affordable and shared ownership housing a discount on their energy bills of up to £200 per year compared to a standard variable tariff* (depending on the number of solar panels and the size of the battery).
‘Tenant Power’ also benefits social housing landlords, like housing associations, who get paid for any excess energy produced by the homes’ solar panels. The green energy automatically gets sold back to the grid at peak times, helping to balance the grid while enabling landlords to fund the upgrade of even more homes.
The innovative tariff is the UK’s first solution for social housing that allows both tenants and landlords to benefit from green energy tech.
Any social home with solar panels and an Octopus-optimised battery can sign up for ‘Tenant Power’. If landlords add extra low-carbon tech like smart heat pumps, tenants could save even more.
Octopus Energy is now inviting housing associations and local authorities to offer ‘Tenant Power’ to their tenants, bringing affordable, green energy to more communities across the UK.
Nigel Banks, Zero Bills Director at Octopus Energy, said: “One of the biggest blockers to scaling green social housing has been the lack of incentives for landlords.
“‘Tenant Power’ removes that barrier by giving landlords a clear return on their investment in low-carbon tech, while delivering meaningful savings for tenants.
“It’s a win-win model for both landlord and tenant which helps accelerate the roll out of affordable, sustainable housing.”
More information on ‘Tenant Power’ and how to sign up can be found here.
