Heat pump installers will now be able to offer homeowners a range of flexible payment options thanks to a new partnership between Daikin and hiber.
The new partnership is set to change the way homeowners can access and pay for heat pump technology and overcome one of the main barriers to achieving the government’s target of 600,000 heat pump installations by 2028.
The flexible payment options will be made available to Daikin’s 1,500 approved residential installers from this month, enabling installers via the hiber platform to offer homeowners alternative ways to finance heat pump and air conditioning installations.
Under the new partnership, Daikin installers will be able to extend the range of payments options their customers can select, including finance, through use of the hiber platform. The installer can quote for the job using hiber and, once the customer has accepted, will be able to direct their customers to the hiber portal for a range of payment options.
Doubt has been cast in recent months about the achievability of the government’s annual heat pump installation target, in large part due to the lack of financing options for consumers to help them pay for heat pump technology.
Hiroyasu Ishikawa, Managing Director of Daikin UK, commented: “The decision to install a heat pump is a complex and considered one with some barriers in the way of consumer decision making. This new partnership strips away at least one barrier by offering a competitive new way to pay as well as offering a new flexibility to our installers and our heat pump customers.
“If we are to reach the government’s goal of 600,000 heat pump installations, we need to be able to offer consumers access to affordable finance options that allow them to spread the cost over a number of years. This partnership between ourselves and hiber will help break the mould of how we offer finance to consumers and make an important contribution towards the upgrading of the UK’s housing stock. It is an especially good time to make a change as there are government incentives including the £5,000 grant of the boiler upgrade scheme and 0% VAT on heat pump installations right now.”
Ryan Harmer, Managing Director of hiber, added: “We have long believed that financing options are the key to unlocking the potential of heat pump technology. If homeowners have access to financing at the point of sale, which they now do thanks to the hiber app, it will be easier for people to afford heat pump installations which is vital as the UK moves towards net zero. We’re excited about working with Daikin as this type of partnership is long overdue and will benefit the entire heating supply chain, from manufacturers to installers and homeowners.”
