Flow Energy recently unveiled its Flow boiler, a device which the company says will produce an average of £500 worth of electricity every year.
According to Flow Energy this will be enough to cover roughly 40% of a typical home’s energy needs. It is set to launch in January 2015.
How does it work?
The innovative boiler looks just like a regular boiler, but with one key difference: it contains a generator. The latter allows it to turn the vapour produced by the boiler into electricity.
It is worth noting that the boiler is unable to store electricity, so it will only produce electricity when the heating is switched on.
At present, the boiler is only suitable for large homes with higher levels of energy consumption, however, Flow Energy is working on a smaller version.
How do I get one?
There are two options for anyone interested in buying the new boiler. It can either be purchased outright, or customers can choose the “pays for itself” arrangement. In this case the boiler will be paid for in instalments over a five year period. Customers must switch their energy supply to Flow Energy and sign over their Feed-In Tariff* to Flow Energy.
Flow Energy will then reduce energy bills by the amount of money generated by the Feed-In Tariff for the next five years. Customers will be able to switch suppliers, but will then stop receiving the rebates.
*A Feed-In Tariff is a government incentive which pays for any energy created, but not used by households which is returned to the energy grid.
Flow Energy: New boilers are more eco-friendly and efficient
The technology behind Flow Energy’s new boiler has been in development for a decade and 20,000 will be available for consumers during launch year. The company expects to have many more available soon after.
Chief Executive of Flow Energy, Tony Stiff said: “We estimate that if 500,000 boilers are replaced with Flow boilers, they would generate as much energy as a power station.
“Getting your electricity from the boiler is also much more efficient than getting it from the grid as well, so it’s more eco-friendly.”