The Company is also encouraged by statements from the UK Treasury which indicate that the 5% reduced VAT rate (rather than the usual 20%) should continue to apply to the Flow boiler, although the company says it still awaits publication of
the European Commission’s VAT Action Plan and final confirmation.
The MCS accreditation means that the electricity that the Flow boiler generates will qualify for the UK government’s feed- in tariff scheme, which provides payments for the use of small-scale renewable or low- carbon electricity generation technologies in the home.
The company plans to progressively ramp up installations over the next six months, aiming for higher volume sales in winter 2016.
In addition, Flowgroup reports continuing growth in its home energy business, with over 170 000 customer fuel accounts registered or being processed through the switching cycle. The company says it continues to believe that there is significant value to be realised from developing a large scale home energy business.
Tony Stiff, CEO of Flowgroup, also spoke of "plans for further Flow boiler product and performance enhancements that we are working on in the development pipeline as well as continued cost-down improvements."
