Octopus has launched a new heat pump deal aimed at driving down the cost of green home heating technology.

The heat pump offering is expected to be cheaper or cost the same as a gas boiler.

According to Greg Jackson, Chief Executive Officer of Octopus, buying and installing their new self-designed heat pump will cost homeowners as little as £2,500.

The news comes just a few days after British Gas announced it would offer the lowest market price for installing heat pumps, starting from £2,999.

In 2021, a study suggested the UK was installing almost 6% of the heat pumps needed to reach net zero.

To help accelerate the rollout of heat pumps, the government launched the Boiler Upgrade Scheme – the scheme offers a grant to cover part of replacing fossil fuel heating systems with a heat pump or a biomass boiler.