New Good Energy tariff will pay homes with solar a fair price for their power
Clean energy company Good Energy is launching a new smart export tariff for households with solar panels. ‘Power for Good’ will pay 10p per kWh, a leading rate for a variable export tariff and better than the standard tariffs offered under the Government’s Smart Export Guarantee scheme.
The new tariff, which will require homes with solar panels to have a compatible smart meter, means a typical solar powered home could get paid around £150 per year for the energy they share. That’s in addition to saving around £500 off their annual energy bills for what they use themselves*.
Nigel Pocklington, CEO, Good Energy said: “People who have solar panels should be getting a good price for their power right now. I want Good Energy to be known as the as the go-to energy company for all things solar power. “We’re already one of the biggest solar power payment companies. We’re starting to fit solar panels on customers’ homes and now we’ve got a new export tariff that’s one of the best on the market. We’ll be the one-stop-shop for all homeowners who want to generate their own solar power to cut bills and kick carbon.” As a variable tariff Good Energy plans to review the pricing on a quarterly basis as wholesale energy prices change, meaning customers will continue to get a competitive deal based on the going rate.
Minister of State in the Department for Energy Security and Net Zero Graham Stuart said: “Solar is a UK success story, with over a million homes now using solar panels across the country. “We’re supporting even more installations through the Smart Export Guarantee, which allows households with solar panels to be paid for the excess electricity they generate. “I welcome this move from Good Energy to offer their customers better value for solar power. We want to see more incentives like this across the sector to encourage other households to invest in green energy and help drive this market forward.”
Power for Good was named by Good Energy customers, who voted for the name over other choices including ‘Good to Go’ and ‘Solar Sell’, showing their close affinity with Good Energy’s mission to make energy cleaner and greener. It will be exclusive to Good Energy supply customers.
Good Energy employee and customer Nina McDouall has a small PV installation of eight solar panels on the roof of her family’s Worcestershire home and volunteered to pilot the tariff. She said: “We love what Good Energy stands for and its values, so we jumped at the chance to take part in the trials of its latest product.
“It’s exciting to see the benefit in pounds and pence for the energy that we export. I’d encourage everyone to sign up so that they can start enjoying better prices!”
Good Energy is already the second biggest solar power payment company in the UK through the Feed-in Tariff (FiT), with over 180,000 customers who it administrates hundreds of millions of pounds in payments to.
The FiT scheme was pioneered by Good Energy before it was implemented industry-wide by the government in 2010, and the company is the biggest voluntary administrator of it today. Good Energy recently launched smart export for its FiT customers, meaning these micro-generators can be paid more for their export as it is based on what they actually share with the grid rather than the deemed 50% normally paid.
Power for Good will be Good Energy’s first smart export tariff available to non-FiT customers including those who installed their solar panels after the scheme closed in 2019.
The company also recently announced it will be installing solar panels itself. The number of installations on rooftops surged in 2022 to over 130,000, more than the number in the previous year, as people looked to shield themselves from high energy bills and take control of their power. The trend is set to continue as energy prices remain high and demand for clean energy remains strong, and Good Energy is looking to help customers with its install offer and the new market leading tariff.
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