Financial Incentives For Solar PV
Receive payback for the generation of electricity from solar energy.
What incentives are available?
Utility providers have paid home owners for generating renewable electricity via the Feed In Tariff between 2010 to April 2019. Since it ended, the industry has been waiting for news on what would be offered as an alternative.
On the 10 June 2019, the government announced new laws to guarantee homes and businesses who generate renewable and low carbon electricity, will be guaranteed money for power supplied to the grid.
The Smart Export Guarentee is due to come into effect from 1st January 2020. However, some suppliers already have export tariffs or are in the process of setting them up.
What is the Smart Export Guarentee (SEG)?
Under the SEG, homeowners and businesses will be paid per kWh, by large energy suppliers, for the energy exported to the grid.
The price will be determined by each energy supplier and whilst the energy suppliers would have to set the price of their Smart Export Guarantee above 0 per kWh, the contract length is completely up to them.
Small energy suppliers (companies with less than 250,000 customers) wouldn’t have to offer a Smart Export Guarantee. However, should they decide to offer one, they would have to follow the same SEG rules.
Who will be eligible?
To be eligible Homes or Businesses would need to have the following:
- A Solar PV System with a capacity limit of 5 megawatts (MW).
- Microgeneration Certification Scheme (MCS) certified equipment
- A Solar PV system installed by an MCS approved installer
- A Smart Meter
Earn money back on your Solar PV
Speak with a member of the team today and we can talk through the options available for you.