One of Britain’s fastest growing companies is calling on the Government to “right a recent wrong” when it comes to helping the journey to Net Zero.
Ecotech pioneer Myenergi wants to see a VAT exemption for solar-fed electric vehicle chargers in the Spring Budget. The Grimsby firm is behind the market-leading Zappi device, as well as home energy management equipment and domestic batteries.
It has seen phenomenal growth since launching seven years ago, securing significant City backing and going from a founding team of two in the Lincolnshire Wolds to employing more than 400, the bulk in Grimsby, where a state-of-the-art headquarters and manufacturing facility is now being completed.
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Lee Sutton, chief executive, the technical lead behind the company’s pioneering range, said: “While the policy reduced the cost of solar panels and other technologies for consumers, it made the mistake of classing solar EV chargers as ‘not in scope’, despite them being distinct from standard EV chargers by being able to directly consume the energy generated from the solar supply.
“Compounding this obvious omission, the cost of domestic EV chargers rose significantly at the same time that the zero-rate VAT was introduced for energy saving materials, as the government’s EV Homecharge Scheme grant of £350 came to an end.
“Myenergi is calling on the Chancellor to redress this increase in the cost of solar EV chargers and their mistaken exemption from list of qualifying energy saving materials by ensuring they also benefit from zero-rate VAT in the Spring Budget.
“Implementing such a change is estimated to reduce the cost of solar EV chargers by approximately £200 on average; this would increase accessibility and encourage more widespread adoption, to the benefit of both consumers and the Government’s decarbonisation agenda.”
Recognised in the top 10 of The Sunday Times Hundred 2022 - the revered list of Britain’s fastest growing companies - Myenergi now turns over £54 million, having seen a sales uplift of 216 per cent in the year to May 2012.
Co-founder Jordan Brompton recently met with Bill Gates and Prime Minister Rishi Sunak to discuss acceleration of green technology in the UK, with the pride in the Stallingborough facility, from where it will export globally, underlined.
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