Written by: Robert Costart
Updated on: 26 October 2024
Written by: Robert Costart
Updated on: 26 October 2024
Maximize Your Savings with the Smart Export Guarantee
Maximize Your Savings with the Smart Export Guarantee
What is the Smart Export Guarantee?
The Smart Export Guarantee (SEG) is a UK government scheme introduced in January 2020, designed to encourage renewable energy generation by compensating homeowners for the excess electricity they send back to the National Grid. Unlike its predecessor, the Feed-in Tariff, it requires consumers to seek out the best rates, thereby incentivizing energy savings and reducing carbon footprints (UK Government, 2020).
To qualify for the SEG, homeowners must meet certain criteria including having a maximum installation capacity of 5 MW and an export meter that measures exported electricity. Providing Microgeneration Certification Scheme (MCS) documentation is also necessary (Energy Saving Trust, 2022). The application process is straightforward; simply contact your chosen SEG supplier, provide the necessary information, and begin earning effortlessly.
How to Apply for the Smart Export Guarantee?
Current Smart Export Guarantee Rates
As of March 2024, the top SEG rate stands at approximately 27p per kWh offered by Octopus Energy for customers utilizing specific battery systems (The Eco Experts, 2024). Other rates vary, with E.ON providing 16.5p per kWh for those willing to switch suppliers, illustrating the need for homeowners to shop around for the best deals (Energy Suppliers, 2024).
Financial Implications of the Smart Export Guarantee
Homeowners can expect to earn around £159 annually from the SEG, based on their system size and geographical location. Factors influencing earnings include the number of solar panels installed and local sunlight exposure; certain regions could see earnings vary by 36% (Energy Saving Trust, 2023). This makes understanding your parameters crucial to maximizing your return on investment in solar technology.
Maximize Your Savings with the Smart Export Guarantee
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