Hometree Secures £250m from Barclays to Enhance Green Home Initiatives

Hometree, a UK-based residential energy services company, has secured a £250 million (€297 million) debt financing deal with Barclays. The financing will enable Hometree to offer zero-deposit payment options and long-term loans for homeowners looking to install solar panels, battery storage systems, and heat pumps. The company aims to use this funding to facilitate the installation of over 28,000 renewable energy systems across the UK over the next two years.

This initiative marks the UK's first residential renewable securitisation using low-cost bonds. Hometree's financing products are designed to make green energy installations more accessible by offering leasing and loan terms up to 25 years. The average cost for installing solar and battery systems is approximately £13,600, while heat pumps range from £12,700 to £31,500. The company also recently expanded its capabilities by acquiring Geowarmth and The Little Green Energy Company, two UK-based renewable energy installation firms.

The move comes at a time of growing consumer interest in renewable energy, with over 220,000 heat pumps and solar installations expected in UK homes in 2023. Despite a decline in energy bills since their peak in 2022, they remain significantly higher than in previous years, increasing the attractiveness of renewable energy solutions. Hometree's goal is to decarbonize over one million homes by 2030, positioning itself as a key player in the European residential energy service market.