How to bag £2,000 off your solar and heat pump installation at home
Sponsored by Octopus Energy
The popularity of green technology is on the rise. It’s easier and cheaper than ever to do your bit for the planet and bring your bills down.
While households are becoming increasingly aware of the benefits of green technology, some mistakenly think the costs are prohibitively expensive, but with the right support it’s easier and cheaper than you think.
There are a range of government-backed grants and schemes, which help to bring the initial upfront cost of installations down, as well as monthly finance options.
Octopus Energy provides a cheaper and effective way to bring low carbon tech into the home, with its smart tariffs and installation processes.
Now, it has partnered with banks which offer up to £2,000 cashback to new homeowners who install heat pumps, and £1,000 for solar panels and battery storage, so long as they’re customers of Lloyds, Halifax or Barclays.
So, why should you consider installing heat pumps and solar panels in your home, and how can you make money doing it?
Octopus Energy has partnered with high street banks to offer customers cashback
Green technology like solar panels, battery storage and heat pumps are an effective option for people who want to save money on their bills and do their bit for the planet.
While the initial costs for solar installation aren’t insignificant, costs have fallen by 4.5 per cent between March 2024 and March 2025, according to government figures. To give you an idea, 10 panels and a 5kWh battery, Octopus Energy’s most popular system, start from £8,477.
Having solar panels installed also brings energy bills down, as homes start to create their own energy and don’t have to rely on the National Grid. If there’s any excess energy, homeowners can sell it back to the grid to offset the money they’re spending on bills or even earn a profit (or donate to charity). A battery helps them to do this at peak times when they can earn more because rates are higher.
The typical Octopus heat pump price is £4,460, which includes the £7,500 government grant, plus extra fittings like radiators, water tanks and temperature controls.
Like solar panels, with the right tariff they can bring bills down compared to a traditional gas boiler. They deliver a constant temperature by bringing warmth from the outside and using it to heat your home.
If you can’t pay upfront, Octopus offers monthly finance options to help spread the cost of a heat pump or a solar panel system and battery.
And if you’re on a low income or live with someone vulnerable, you could get extra support through the Energy Company Obligation (ECO) scheme. Under the scheme, Octopus is installing free solar panels and heat pumps in up to 1,000 homes between now and January 2026. Go to their website to see if you or someone you know could be eligible.
How to bag thousands of pounds in cashback
To help even further, Octopus has partnered with three of the country’s biggest mortgage lenders to offer up to £2,000 cashback to eligible customers who install heat pumps, or £1,000 for solar and battery.
Lloyds and Halifax
Octopus Energy provides and installs the heat pump and qualifying customers who hold a new mortgage with Lloyds Bank or Halifax can claim up to £2,000 cashback.
You’ll also be able to claim a free Energy Performance Certificate, which usually cost between £60 and £120, for making green improvements, like installing a heat pump.
This offer paired with the government’s boiler upgrade scheme – which offers £7,500 off the cost – means it could cost less than the installation of a gas boiler.
Homeowners could instead choose to apply for £1,000 cashback for installing solar panels or a battery, which will help to bring down the upfront cost.
The cashback offer is only available to residential customers who have a qualifying mortgage and a £5-a-month Club Lloyds current account. You will need to have installed a heat pump or solar panels within one year of completing a Lloyds mortgage, additional borrowing or new deal.
Lloyds customers who have a heat pump installed are also eligible for £100 energy credit with Octopus.
Halifax customers applying for a new mortgage, additional borrowing or switching to a new deal after 31 July 2024 can claim up to £2,000 cashback for a heat pump, and £1,000 for solar panels or battery storage.
Like Lloyds Bank, you’ll also be eligible for £100 energy credit with Octopus once your heat pump is installed.
Barclays
Barclays residential customers can claim up to £2,000 cashback for adding a heat pump or up to £1,000 for adding solar panels or battery storage.
You won’t need to borrow more money or take out a new loan, but you will need to have a direct debit for mortgage payments and make sure you haven’t claimed the reward before.
You’ll need to move quickly, though because Barclays says it will change how its Greener Home Reward works from January 2026, and you have just three months from the date you made the final payment for your installation to make your claim.
Other banks like Santander and Virgin Money have similar incentives but applications are closed for new customers. If you bank with them, keep an eye out for any future offers.
