Octopus Energy and the UK's first covered bond bank, Perenna, have launched the world's first 'Zero Bills' home mortgage, unlocking sustainable homeownership for many more people across the country.

'Zero Bills' is a cutting-edge smart initiative created by Octopus that allows customers to move into homes that are kitted out with green energy technology, such as heat pumps and solar PV, and with no energy bills for at least ten years.

Perenna is the first bank to factor the value of Octopus' 'Zero Bills' initiative into its affordability calculations. The ‘Zero Bills Mortgage’ offers a lower rate than Perenna’s standard mortgages, rewarding customers for buying a sustainable home.

Perenna will give potential homeowners much greater purchasing power, reducing the deposit needed and driving down the barriers to buying greener homes.


Octopus Energy has already accredited over 1,000 homes across the UK through contracts with developers and housing providers. Accredited plots span a range of tenure types, including private and shared ownership, as well as affordable and social rent.

Octopus plans to deliver 50,000 ‘Zero Bills’ homes globally by the end of 2025. Perenna's 'Zero Bills Mortgage' will allow even more homes in the UK to be bought and sold by green-minded homeowners.

Research from Make UK Modular shows two-thirds of adults below the age of 30 consider sustainability to be an important factor when looking for a home.

Michael Cottrell, Zero Bills Homes Director at Octopus Energy, commented: "Our 'Zero Bills' homes guarantee no energy bills for 10 years. We're delighted that Perenna is the first bank to acknowledge the value of green tech by offering a lower interest rate to ‘Zero Bills’ customers compared with their standard mortgages. And we’ll keep innovating and partnering with like-minded companies to further speed up the move towards affordable, cleaner living."

Arjan Verbeek, Co-founder and Chief Executive Officer at Perenna, said: "Decarbonising UK homes is a massive challenge and requires collaboration. We’re glad to partner with Octopus Energy who want to solve structural issues and take ambitious steps to deliver them. The ‘Zero Bills’ initiative is a testament to how forward-thinking Octopus Energy is. We can't wait to unlock ‘Zero Bills’ homes for more people through our innovative mortgage offer."