North West-based tech entrepreneurs set to play a major role in tackling energy crisis in our homes
Heatio’s new technology at the heart of two new innovation programmes to give people affordable access to green energy
Founded in April 2022 by entrepreneurs and green technology experts, Simon Roberts and Thomas Farquhar, Heatio has been going from strength to strength. They are now delighted the technology they are developing has been recognised by government, as they are part of two successful consortium bids awarded through the Net Zero Innovation Portfolio (NZIP) by The Department for Energy Security & Net Zero. The two projects are focused on really making advances in how we can heat and power our homes more efficiently, and also very importantly make renewable technologies accessible and affordable to take us away from our reliance on fossil fuels.
The two initiatives look at providing Heat and Energy as a Service – installing renewable technologies into homes for free and then homes only paying for the energy they use - and a long-term fixed rate green mortgage that will help finance the technology people need to run their homes using renewable energy and move away from fossil fuels. The Home Energy Management System by Heatio will use data and next generation technology to provide homeowners with a clear route to moving away from fossil fuels. It will take data from Smart Meters and intelligent sensors to accurately create an energy profile for a home and create a roadmap of improvements. Then connecting renewable technologies like solar panels, heat pumps and electric vehicles to optimise and maximise their performance and support the national grid.
Thomas Farquhar, Commercial Director at Heatio, said: ‘UK consumers can often be put off by the upfront capital costs and perceived lifetime running cost for low carbon solutions. These two projects that will have our Home Energy Management System technology at their heart are really going to push things forward in helping the public get access to greener technology that will help us tackle the energy crisis.’
Both projects are funded by the UK Government’s Green Home Finance Accelerator (GHFA), part of the Net Zero Innovation Portfolio. They are specifically targeted at addressing the financial barriers that people might experience in accessing green energy. The GHFA was established to provide innovation funding for the development of green finance products which can enable uptake of home energy efficiency and low carbon heating measures.
Working with leading players in the relevant sectors Heatio will be part of the following two programmes:
Heat as a Service (HaaS) and Energy as a Service (EaaS)As part of a consortium with E.ON and Energy Systems Catapult, Heatio’s Home Energy Management System will be used for the development and piloting of HaaS & EaaS. These new innovations will remove the capital cost barrier to Heat Pumps, Solar & Batteries and include a wraparound care package to include ongoing optimisation, servicing, maintenance, and breakdown support.
The aim of rolling out both HaaS and EaaS is to spread the cost of low carbon energy and heating solutions over a significant contract period to deliver huge reductions in energy costs for homes, with no capital costs for the new technologies fitted. The project aims to better understand how HaaS and EaaS could accelerate the adoption of alternative heat and energy sources by opening the market up to those to have the latest in renewable technologies with no upfront investment.
Long-term Fixed Rate Green Mortgages
As part of a consortium led by digital mortgage lender, Perenna, and with Energy Systems Catapult, Heatio’s Home Energy Management System will be part of a bid to overcome the barriers faced by consumers when retrofitting their homes. The consortium is testing consumer appetite for the provision of a 20–30-year fixed rate green mortgage that rewards homeowners with a preferential interest rate for retrofitting their home with low carbon technologies and upgrading the fabric of their home.
Thomas Farquhar from Heatio continues: ‘Unlocking the potential of innovative green finance is vital to driving progress towards Net Zero. Our partnership with some leading names is a fantastic opportunity to develop two very exciting initiatives, based on a data driven specification approach. Heat and Energy as a Service will make clean energy accessible to households across the UK whilst delivering energy security & new Green Mortgages will remove the capital cost barrier whilst incentivising those who improve their homes with renewable technologies. We are delighted to be able to develop and deploy our Home Energy Management System to drive this uptake as part of these programmes that will be developed into models that can then be rolled out more widely in the near future.’
Becky Sweeney, Business Leader – Homes, at Energy Systems Catapult, said: ‘The decarbonisation of homes is one of the toughest challenges we face in the energy sector. While low carbon technologies are available, many of these products are out of reach financially for many homeowners. We’re putting barriers to affordable retrofit in our crosshairs. Our partnerships with Heatio, E.ON, and Perenna, will reshape how we approach home decarbonisation in a financially sustainable manner. It’s inspiring to see innovative companies from different fields working in collaboration to tackle a common problem. These transformative projects will help to unlock the UK’s decarbonisation potential, streamline consumer engagement, and give investors the confidence they need to invest in the green transition.’
