ScottishPower and Santander team up to slash prices for heat pumps and solar panels.

Renewable energy giant ScottishPower and Santander UK have come together in a groundbreaking partnership to make sustainable energy solutions more attainable for homeowners across the UK.

This innovative collaboration is aimed at encouraging more households to embrace energy-efficient technologies such as heat pumps and solar panels, with the ultimate goal of reducing carbon footprints and cutting energy bills over the long term.

Under this new initiative, Santander UK is offering a £500 cashback incentive to customers who take out a Santander loan to fund renewable energy projects like heat pumps or solar panels. Additionally, ScottishPower is sweetening the deal by providing an additional £500 credit towards the energy accounts of customers who purchase and install solar panels through their services.

Combined, these incentives mean that customers could potentially receive up to £1,000 when they opt for solar panel installations, helping to offset the initial costs of adopting more energy-efficient technology in their homes, and making it more accessible and affordable for households across the UK.

Andrew Ward, the chief executive of ScottishPower’s Customer Business, highlighted the importance of reducing carbon emissions from domestic housing, and emphasized the role that technologies like heat pumps and solar panels can play in this transition. Not only do these solutions contribute towards achieving a net-zero country, but they also help lower energy bills and protect households from fluctuations in gas prices.

Ward stated, “The people of the UK need banks like Santander to provide more affordable and innovative financing options to facilitate the energy transition. Many households may not have the necessary savings to make these investments, so it is crucial for energy companies, banks, and the government to make it easier for households to embrace sustainable energy solutions.”

Michael Taylor, the head of green finance at Santander UK, acknowledged that many homeowners are keen to enhance their properties’ energy efficiency, but face challenges in finding reliable information, suppliers, and installers. The partnership with ScottishPower aims to address these barriers while also providing financial relief to homeowners looking to upgrade their homes.

Taylor added, “In addition to our current offerings, such as free EPC assessments on our website and discounted mortgage rates for properties with EPC ratings of A and B, we are committed to supporting homeowners at every stage of their energy efficiency journey.”

This collaboration between ScottishPower and Santander UK represents a significant step towards making sustainable energy solutions more accessible and cost-effective for homeowners, ultimately contributing to a greener and more energy-efficient future for the UK.