Heatio, an EnviroTech company based in Liverpool, has been awarded £1.2 million through the Net Zero Innovation Portfolio Green Home Finance Accelerator scheme. The funding will help homeowners enhance the heat efficiency of their properties and reduce their energy expenses. To help consumers in their pursuit of heat pumps, solar PV, and battery storage, the Energy as a Service subscription-based product will eliminate upfront costs. In partnership with E.ON and Energy Systems Catapult, Heatio will enable approximately 350 households in the North West of England to benefit from this service starting in the Spring. The Energy as a Service solution will include a customized E.ON energy tariff, lowering costs even further.
Additionally, Heatio has partnered with Perenna Digital Bank and Energy Systems Catapult to introduce a 20-30 year fixed-rate green mortgage. Homeowners retrofitting their residences with low carbon technologies will earn a preferential interest rate, rewarding those who adopt clean technologies. After the improvements have been assessed and certified by the Heatio Flexx platform and home energy management system, property owners who have installed solar PV, heat pumps, or battery storage will gain a lower interest rate on their mortgage. This new finance option may save homeowners roughly £400 per year.
Given that the UK’s housing stock accounts for 40% of the country’s total emissions, decarbonizing people’s homes is critical to reducing carbon in the UK. These initiatives aim to eliminate financial barriers for consumers, making alternate energy sources available to those on lower incomes without capital. Heatio Flexx, a Home Energy Management Solution outfitted with a data-driven approach, provides an accurate energy profile and home information. This information helps to tailor an appropriate set of energy-efficient technologies unique to each household based on their property features and actual energy use.
Thomas Farquhar, co-founder of Heatio, expressed that the most crucial step towards promoting low-carbon technology adoption and energy efficacy for UK homes is to eliminate economic obstacles for the customer. In the past, many consumers regarded heat pumps, solar panels, and battery storage as an exclusive luxury. However, this notion is about to change. These initiatives remove financial barriers for consumers, enabling them to save money and reap the benefits of deploying low-carbon technologies.