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PV's export tariffs.
PV solar panels today generate an export tariff and offer a permanent solution to high energy costs. The Smart Export Guarantee pays PV-owners for surplus power that's automatically exported.
Currently, Octopus Energy offers 7.5p per kWh you self-generate and export.
Typically, a 4 kW PV system offers approx 686.00 GBP per year, excluding savings for decades.
SEG rates from 1st January 2022.
|Octopus Energy||Outgoing Fixed||7.5p|
|OVO||OVO SEG Tariff||4.0p|
|ScottishPower||Smart Export Variable||4.0p|
|SSE||Smart Export Tariff||3.5p|
|EDF||Export & Earn||3.5p|
|Npower||Fix & Export V1||3.0p|
|Centrica/British Gas||Export and Earn Flex||1.5p|
|Green Network Energy||SEG Tariff||1.0p|
|Utility Warehouse||UW Smart Export Guarantee||0.5p|
|Shell Energy||SEG Tariff||0.0001p|
*Correct at the time of writing.
"There's no better incentive than realising the golden age of cheap energy is over. I uttered this in 2004. The numbers didn't disappoint."
The return-on-investment factor?
Today's, PV export tariffs make solar panels a great opportunity.
A payment for surplus that's not stored with battery storage.
It's ideal for people working from home.
A minimum tax-free return on investment of around 7% with higher rate tariffs. 11-14% when used with battery storage and charging an EV.
Who, when, why?
There are currently approx 980,000 domestic PV adoptions that grew significantly since 2009 with 2 million installations projected by 2024 in the UK alone.
This growth in adoption is down to the rising costs of traditional energy, lower costs in PV products, and improved technology.
A new dawn beckons with export tariffs and electric vehicle adoption.
Exciting time ahead.
Grants or other incentives for solar panels?
Generating income and independence from the sun is the incentive.
Historically, grants and incentives in the UK began with the Blue Skies solar grant for solar heating back in 2004.
The Blue Skies grant scheme ended in 2008, to make way for an early feed-in tariff scheme.
The feed-in tariff incentivised the earliest PV solar industry up to 2016. Today, selling power using the Smart Export Guarantee is the incentive for solar panels.
Will PV produce all my electricity needs?
In most cases, no. However, it can do a substantial portion.
Each case varies depending on your consumption rate, geographical location, roof orientation, and the size of the system installed.
Installers can predict output with high-precision nowadays.
What about surplus power?
When you're generating at a surplus, you can automatically redirect to battery storage, hot water heating, or charge an electric car.
After that, it will automatically feed into the National Grid, and you'll get financially rewarded for your contributions via the 'Export Tariff'.
If I don't have suitable a roof?
PV-arrays can also be ground-mounted to allow those without roof space to benefit too. We see this today with a growing number of solar farms.
Once the myths are busted, a PV-powered life becomes newfound freedom.
Admittedly, they won't benefit you much on a snowy day in February, but that doesn't subtract from its usefulness for the rest of the year.
The domestic energy landscape is shifting towards self-generation.Get a quote
"We're very content that we decided to install our PV system. It's set to turn our home into a 'zero-energy cost' building with profit to boot! Please accept our thanks for your valued assistance in achieving a happy outcome. You must feel free to use this message with any future prospective customers who may have doubts about the value of having solar panels installed."
Mrs. Philips, Bury St Edmunds.