Barclays set to support customers obtain energy efficient homes

The UK’s leading bank has teamed up with British Gas in a bid to help customers who want to make their homes more energy efficient.

Announced yesterday, the partnership allows for Barclays to offer a 50% discount on a smart thermostat, known as the Hive Thermostat Mini, which will help customers better control their energy use.

Recent research from British Gas, the largest UK energy and home services company, revealed that 51% of respondents said higher energy prices made them more likely to look at ‘installing energy efficient products’ within the next 12 months.

News of the new partnership has come at a particularly good time as statistics released by the Office of National Statistics this month have shown that inflation rates are coming down slower than expected, suggesting high fuel costs are to continue within the coming months.

The partnership is part of Barclays’ Green Homes Strategy and closely follows the launch of the banks Greener Home Reward, which provides up to £2000 to Barclays UK residential mortgage customers who make selected energy efficiency-related home improvements, such as certain types of low carbon heating, double or triple-glazed windows, solar panels and home insulation.

Nick Stace, Head of Sustainability at Barclays UK, comments: ‘We want it to be easier and more affordable for customers to make their homes energy efficient. Offering the Hive Thermostat Mini at a discount is one way we can do this for our UK residential mortgage customers.

‘Through our partnership with British Gas, we are committed to helping customers explore ways they could save energy, save money and make greener choices.’

Andre Middleton, Managing Director of Net Zero at British Gas, added: ‘We’re excited to partner with Barclays in providing energy efficient solutions to homebuyers.

‘We recognise that may households are being cautious with their spending currently so we want to make sure the right solutions are there for those who can make changes to their homes to lower their emissions and save on bills.

‘Our expert teams and engineers are already installing electric car charging points, heat pumps and solar panels and improving the insulation of millions of properties around the country each day.’

Through this offer, Barclays mortgage customers can receive the smart thermostat at a one-off cost of £109, which also includes the cost of professional installation.

Image: Dan LeFebvre