The ‘Tenant Power’ tariff is a new measure from Octopus Energy, that looks to spread the financial benefits of greener energy between social housing residents and landlords. The Tariff will allow those in social, affordable and shared ownership housing to save up to £200 a month on their energy bills, whilst also turning excess energy into financial gain for landlords.

For any excess energy produced by the homes’ solar panels, it will be sold back to the grid at peak times, allowing both social landlords and their residents to benefit from energy investments.

With social landlords such as housing associations continuing to face financial strain, the question that burdens housing providers is how to upscale the housing stock whilst also staying financially viable. Tariffs such as this that allow energy upgrades to give back directly to both residents and tenants are a massive step towards a system where green home upgrades pay for both landlords and residents.

Any social home with solar panels and an Octopus-optimised battery can sign up for ‘Tenant Power’, with the potential for further savings when considering additional upgrades such as heat pumps.

Nigel Banks, Zero Bills Director at Octopus Energy, said: “One of the biggest blockers to scaling green social housing has been the lack of incentives for landlords.

“‘Tenant Power’ removes that barrier by giving landlords a clear return on their investment in low-carbon tech, while delivering meaningful savings for tenants.

“It’s a win-win model for both landlord and tenant which helps accelerate the roll out of affordable, sustainable housing.”

The idea of a 360-degree incentive such as this which benefits both landlords and residents directly is one with great potential, and should we see further innovation in this direction it could be a serious driver behind the UK’s net-zero goals.