Weighing up installing solar panels? Or looking for the best way to benefit from your new PV solar panel system?
The government are currently confirming details of the Smart Export Guarantee – a proposed system to help you get a financial reward for exporting renewable energy to the national grid. This is on top of the savings you’ll make on your energy bill by generating your own electricity.
What’s the Smart Export Guarantee?
The Smart Export Guarantee (SEG) is a system proposed by the government to help UK homeowners benefit financially from their solar panels. The idea is to provide an incentive for small-scale solar PV and other renewable electricity generators to export their spare electricity to the national grid.
Although details of the system haven’t been finalised, the idea is that large energy suppliers (those with 250,000+ customers) will have to pay renewable energy generators for every kW of electricity they export to the grid.
At the moment there’s no minimum price – only that it’s above zero. However, it’s hoped that energy companies will end up introducing a range of tariffs according to the time of day electricity is exported and how much. Smaller energy companies will be able to opt-in to the system too.
What about the Feed-in Tariff scheme?
One of the main reasons the Smart Export Guarantee has been proposed is to provide a replacement incentive for homeowners to install and use solar panels and other renewable technology. This is instead of the Feed-in Tariff, which ended on 31st March 2019.
If you have a solar panel installation that was registered before April 2019, you’re still eligible to benefit from the Feed-in Tariff, as long as you apply to the scheme before 31st March 2020. It’s the best way to financially benefit from your solar panels, as you get money for generating and exporting electricity.
But if you’ve got a system that didn’t have its MCS certificate issued by 31st March 2019, or are thinking about installing solar PV in the future, the SEG is the best way for you to benefit from your panels.
When will there be more information about the Smart Export Guarantee?
At the moment, details of the Smart Export Guarantee haven’t been finalised. It was proposed in January 2019, but the government still haven’t confirmed the exact details of the scheme and when it will start. However, the Solar Trade Association (STA) suggest it might be up and running by summer 2019.
It’s worth bearing in mind that you can still benefit from exporting your solar energy before the SEG comes into place, even if you’re not eligible for the Feed-in Tariff. For example, the energy supplier Octopus offers two different export tariffs for renewable energy generators already. E.ON and Bulb also have export tariffs available.
So, although the Feed-in Tariff has been discontinued, the Smart Export Guarantee proposal and already available export tariffs show that there’s still money to be made from solar PV. Of course, this is on top of the savings you’ll make on your energy bills by generating your own electricity!
If you want to know whether it’s possible to install solar panels on your property or are looking for quotes, we can help. Fill in our online form and we’ll connect you with up to 4 professional solar engineers working in your area.