Installing solar panels is one of the top methods you can use to eliminate your dependence on the energy grid. Most of the time, you’ll have a surplus of energy since the solar panel system delivers more energy than you need. In these cases, you have the opportunity to sell some of that energy to the grid.
It’s a great idea to do that, and here we have 2 of the best ways to sell your surplus energy and make a profit. It’s important to talk with a solar PV electrician and ensure the solar system can sell energy back to the grid without any issues.
How do you sell energy back to the grid?
Once the solar panel electrician sets up and connects the system to the grid, the extra electricity generated by your system will go back to the grid automatically. One thing to note is that you must switch from the current tariff in order to get paid for the energy you’re exporting.
You have a 2-way energy meter that will monitor how much energy you receive from/send to the grid. The electricity company will check the meter and they will see how much they need to pay you for the extra energy you delivered to them.
Using the Smart Export Guarantee
One of the recommended options by any solar panel installation Oxfordshire experts comes in the form of Smart Export Guarantee. The system replaced Feed in Tariffs in 2020, and it was introduced to deliver a financial incentive to those people/businesses with solar systems that generate energy and want to sell it to the national grid.
SEG eligibility varies, but you need to have a solar photovoltaic system, although, it can be offered for wind, hydro or micro-CHP systems. Also, you need to have the solar system installed in the UK, and the total installed capacity needs to be under 5 MW. If an energy company has 150000+ customers, they need to offer a tariff, but smaller companies can offer one as well.
What do you need in order to apply for the SEG tariff:
The system needs to meet SEG eligibility requirements
Your meter needs to deliver export readings every half an hour
You need to ensure that the company you used has a Microgeneration Certification Scheme or something equivalent to that. Which is why it’s important to use a certified solar panel electrician with enough experience in the industry.
Getting paid via the Smart Export Guarantee system
If you meet the requirements, you can apply to the supplier, and you can find a list of suppliers here. Every supplier can set their own price, but on average the rates will be anywhere from 1p–11p per kWh. In some cases, you will have the opportunity to obtain extra payments if you have more complex energy storage devices. You will need to talk with the SEG tariff supplier for more details of their supported SEG system.
The Octopus Flux system
While the Smart Export Guarantee is a great option, the downside is that its rates are very low. The Octopus Flux system is a newer option where you get better rates, while still sharing your energy with the grid in an automated, simple way. At its core, Octopus Flux is a highly efficient, simple import and export tariff that helps give you the best rates for your exported energy. You have the best peak rates between 4 and 7 PM when you can discharge the battery and generate the utmost profits.
Another benefit you get from Octopus Flux is that any solar panel installers Oxfordshire can install your panel, you don’t need to have the system installed by Octopus Energy. How much do you get paid via Octopus Flux? Here are the rates:
The day rate for exporting energy to Octopus Flux is 19.3p/kWh
During 2 and 5 AM you have a rate of 7.18p/kWh for charging your batteries from the grid at a cheaper rate
Between 4 and 7 PM you get paid 31.41p/kWh, this is the time when you have the opportunity to discharge your extra energy. In doing so, you will generate the best savings!
All these prices are available starting with July 1st 2023, but they are subject to change. What makes Octopus Flux impressive is its flexibility and the fact that you get the best value for exporting whenever you want.
These UK electricity tariffs are a great option if you have a solar panel system and want to export your surplus energy. It’s a very good idea to talk with a solar panel electrician and ensure the system is set up to send the extra energy to the grid. Once that happens, all you need is to pick the right tariff and automate the system so you can get paid!