07 February 2024
Vaillant and OVO launch a new, first of its kind partnership to reduce heat pump running costs to just 15p per kWh to homes across the UK.
Vaillant has a new partnership with OVO where homeowners with a Vaillant aroTHERM or aroTHERM plus heat pump and an internet gateway such as the myVAILLANT connect, will now be able to access OVO’s new deal, Heat Pump Plus. This new type of use add-on will make heat pumps cheaper to run on average by £495 per year. With the UK government target set to install 600,000 heat pumps per year by 2028, the new add-on is designed to support existing heat pump homes with their ongoing running costs and aims to encourage more households to transition from a gas boiler to a heat pump.
How it works: homeowners will have two separate rates – one for their heat pump, and one for the rest of their household energy usage - benefitting those households for making the switch to low carbon heating technology. Both new and existing Vaillant customers with an aroTHERM or aroTHERM plus air source heat pump, and an internet gateway such as the myVAILLANT connect can access the new rate – which is currently the cheapest on the market for heat pump customers.
From Vaillant’s own research into the installer appetite for upskilling to install heat pumps, it found that over 70% of installers considered heat pumps to be too expensive for consumers. Combined with further research, more than half of the UK (52%) would want to replace their gas boiler if they could afford to do so, and three quarters (75%) say they would make the switch with a roughly 50% reduction in running costs. Today’s announcement tackles this cost barrier when it comes to running costs. And, when combined with the £7,500 Boiler Upgrade Scheme grant from the Government to help towards installation, thousands more households would be able to benefit from a cleaner and more efficient heating system.
Overall, the interest in low carbon technology is growing. 1 in 4 (26%) people in the UK want to install a heat pump more now than they did one year ago, with almost a third (32%) stating it’s because operating costs are going down, while almost half the country (45%) think Government support makes it more appealing.
Henrik Juhl Hansen, Managing Director UK & Ireland, Vaillant, said:
“Having invested in low carbon technology for more than 25 years, our commitment to decarbonising UK homes remains strong. Since the launch of our heat pump line in 2022, making Vaillant the first boiler company to manufacture heat pumps in the UK, we continue to develop our business supporting the growing demand in this low carbon technology, through our installer training and expanding our manufacturing sites in the Derbyshire area. Through our investments in sustainable heating technologies, we are able to collaborate with OVO and are proud to be launching this new partnership making heat pumps more affordable across the UK. This new proposition will change the landscape for business, and consumers looking at decarbonising their home heating.”
Mat Moakes, Chief Commercial Officer, OVO said:
“The UK is trailing far behind Europe on its heat pump installations. Yet our data shows that when paired with innovative tariffs to reduce the cost, alongside the Boiler Upgrade Scheme, the uptake increases while rewarding early adopters. We need to see more progress to decarbonise heating and our new partnership with Vaillant is an exciting step to make heat pumps more attractive for thousands more households.”
Vaillant proudly supports installers, specifiers and homeowners through its innovative heating technology, the aroTHERM air source heat pump range. Alongside accompanying heating system components, this range has been designed for ease of use, incorporating smart home technology, whilst maintaining a high quality and efficient heating system. By facilitating this integration with OVO, via the myVAILLANT connect internet gateway, both new and existing Vaillant heat pump customers have access to the cheapest rate on the market with the UK’s first type of use energy plan. For customers now considering the move to a heat pump, Heat Pump Plus is available through any MCS accredited Vaillant air source heat pump installation allowing customers to see further reductions in heating costs.
By partnering, both Vaillant and OVO are committing to move the dial on the electrification and decarbonisation of heat across the UK.
To read more visit: https://professional.vaillant.co.uk/for-installers/business-support/developing-your-business/heat-pump-plus/