Great news for new owners of solar PV installations and a boost for solar PV installers.
From 1st January, electricity suppliers with more than 150,000 customers are required to offer a Smart Export Guarantee (SEG).
This will apply to all customers that have had a solar PV system installed since 1st April 2019, when the previous feed-in-tariff (FIT) was scrapped.
Whilst the legislation stipulated that the SEG payment must solely be above 0p (to prevent negative charging for exporting to the grid during periods of low demand), many suppliers are now offering rates of up to 5.6ppkWh, which exceeds the final FIT of 5.2ppkWh.
There are currently 14 suppliers offering SEG. Octopus Energy are also now offering their ‘Outgoing Agile’ tariff which is pegged to half-hourly wholesale rates- a very interesting proposition for those with battery storage capabilities!
As per the FIT scheme, the solar PV installation needs to have been certified bu and approved scheme such as the Microgeneration Certification Scheme, to ensure that the installation is to a suitable standard. A smart meter will also be required to enable accurate export readings to be taken.