The housing association is the first in Wales to adopt the tariff, which combines solar panels and battery storage technology to help lower tenants’ energy costs while generating income for landlords.
The first phase of the rollout covers four homes, with installations completed and tenants now live on the tariff.
Tenant Power is designed for homes fitted with solar panels and compatible battery systems. Excess electricity generated by the properties is stored and sold back to the grid during peak periods, with the revenue shared between landlords and tenants.
Octopus Energy says tenants on the tariff can reduce their electricity unit rates by around 30%, equivalent to savings of about £200 a year compared with a standard variable tariff.
The energy supplier said the model is intended to improve the financial case for low carbon investment in social housing by creating a return for landlords alongside lower bills for residents.
Nigel Banks, Zero Bills director at Octopus Energy, said: “Solar panels and batteries should be a no brainer for social housing but until now the economics haven’t worked well enough.
“Tenant Power solves this by cutting tenants’ bills while giving social housing landlords a return for investing in green tech.
“By partnering with United Welsh, we’re delivering more affordable, greener living to social homes in Wales, making a real impact on communities and people’s pockets.”
United Welsh said it has invested more than £14m over the past four years in improving the energy efficiency of its homes, supported by the Welsh Government’s Optimised Retrofit Programme.
Richard Mann, group chief executive at United Welsh, said: “At United Welsh, we are committed to providing high quality homes and supporting residents with the cost of living.
“Investing in low carbon technologies like solar panels and batteries helps residents to lower their energy bills in the long term, while supporting the drive towards decarbonisation.
“Initiatives such as the Tenant Power tariff are an innovative way to fund more property upgrade work while residents benefit from lower bills.”
