Brits buy record-breaking number of heat pumps (as switchers can save over £200 a year)
Octopus records its biggest-ever month for heat pump sales in July (+71% year-on-year) as Brits ditch boilers for pumps
Demand for Boiler Upgrade Scheme (BUS) grants also spikes, up 19% year-on-year
Octopus’s unique real-world Boiler Beater dashboard shows 94% of its Cosy heat pumps are cheaper to run than a gas boiler
London, 5 August 2026 – Octopus has recorded its best-ever month for heat pump sales, with July's figures surpassing every previous month on record.*
Heat pump sales in July 2026 were 71% higher than the same month last year, and also counted for the sixth consecutive month of growth.
It comes as heat pump adoption continues to gather pace across the UK, with almost one in four (24%) new homes in England now fitted with a heat pump. In Wales, the figure has surpassed the 30% mark for the last three months.**
Households making the switch can save hundreds of pounds a year when pairing a heat pump with a smart tariff.
As shown on Octopus’s Boiler Beater dashboard, customers on Octopus's own Cosy tariff save an average of £227 a year compared with gas boiler households, with 94% of heat pumps being cheaper to run than the gas-guzzling alternative.***
The announcement comes as Ofgem confirmed applications for the Boiler Upgrade Scheme (BUS) are up 19% year-on-year. The scheme has now supported over 80,000 heat pump installations across UK homes since its launch.****
Customers are choosing to make the switch while the price of heat pumps stays low. On average, Octopus customers pay £3,000 to replace an oil boiler and £4,000 to replace a gas boiler with a heat pump. This makes them cost comparable or cheaper than the average gas boiler installation, according to data from boiler provider Boilerguide.*****
Since the government increased the BUS grant for oil boilers to £9,000 in April, Octopus has seen almost three times as many customers switch from oil and LPG boilers to heat pumps.
Rebecca Dibb-Simkin, Chief Product and Marketing Officer, said: “The heat pump revolution is accelerating. We've never seen demand like this - thousands more households choosing to go electric to save money and insulate themselves from global price shocks. And we continue to put our money where our mouth is, sharing weekly saving data from our Cosy heat pump fleet on our Octopus Boiler Beater dashboard.”
- ENDS -
Notes to editors:
*Excludes two months that involved a special discount on heat pumps
** Regen, Electrified Heat Transition Tracker, August 2025
*** According to Octopus’ Cosy Heat Pump Fleet Performance Dashboard, streaming data from thousands of Octopus heat pumps across the UK, August 2026
**** Ofgem, Boiler Upgrade Scheme Annual Report April 2025 to March 2026, July 2026
***** UK households pay £3,800 on average for a combi-boiler replacement, August 2026
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About Octopus Energy Group
Octopus Energy is a global clean energy and technology business, driving the affordable, green energy system of the future. Under its own retail brand, Octopus delivers world-class customer service and cutting-edge energy products to 11 million households globally.
The company is driving the electrification of heat and transport through smart tariffs and innovative clean tech, with operations spanning 27 countries and the entire energy value chain. It operates a £7 billion renewables portfolio as well as thriving EV leasing, heat pump, and solar businesses.
Backed by pension funds, investors and energy giants, Octopus Energy Group businesses deliver cheaper, greener energy and cutting-edge tech to countries and customers worldwide.
For more information, check out our website.