New laws to guarantee payment for solar homes providing excess electricity
In January we brought you information confirming the announcement of the new ‘Smart Export Guarantee’. Last week the Government announced that new solar homes and businesses creating and exporting electricity to the grid will be guaranteed a payment from suppliers under new laws introduced last week.
The Smart Export Guarantee (SEG) will ensure small-scale electricity generators installing solar, wind or other forms of renewable generation with a capacity up to 5MW will be paid for each unit of electricity they sell to the grid – tracked by their smart meter.
Read the full Government statement on the new Smart Export Guarantee here.
New Solar Customers
The SEG will place a legal obligation on energy suppliers with over 150,000 customers – covering more than 90% of the retail market – to introduce export tariffs by 1 January 2020. Some energy suppliers, including Octopus and Bulb, are already offering new smart tariffs, with some exceeding those offered under the previous subsidy scheme.
Existing Solar Customers
If you already have solar panels installed and are signed up to the FIT scheme, don’t worry. You are locked in and your payments won’t be affected.
We’ll be in touch with further information as and when it is available.
As always, if you have any questions, please don’t hesitate to contact us.