Typically in our region a well sited 4kWp Solar PV system will generate in excess of 3,750kWh/year of electricity. Exact output depends on the quality of the PV panels chosen, location, shading, pitch and orientation to south.
Annual benefits on such a system would be approx £337.50 in savings on your bill through use of your own free electricity.
Income – Smart Export Guarantee
The ‘Smart Export Guarantee’ (SEG) is the proposed replacement of the ‘Feed-in Tariff’ scheme.
Under the new scheme all new Solar PV installations will be paid for all excess electricity which they send back into the energy grid.
The Smart Export Guarantee (SEG) key points:
- It will apply to homes and businesses, so anyone exporting power can now be paid for every unit that goes back to the grid.
- Customers installing Solar PV from today until the SEG has been formally introduced will still be able to qualify and sign up to receive SEG payments once the scheme has been fully launched.
- All the larger energy suppliers will be required to offer an SEG export rate.
Any SEG qualifying installation must meet certain standards:
- A qualifying Solar PV installation must include equipment (Solar PV panels) that were previously certified as FIT eligible
- The installation must be MCS accredited, so the installer must be MCS certified and adhere to MCS installation standards. Redmile Energy is fully MCS certified.
- The property must have an approved export meter capable of reading your half hourly exports. Currently the fitting of such meters is the sole responsibility of the power suppliers who are offering the installation of such smart meters (which half hourly export readings) without cost to homeowners.
- The installation cannot be registered under the old FIT payments scheme.
Octopus Energy is the first energy supplier to offer the SEG. The good news is that this has opened at a very fair market rate of 5.5p/kWh for their fixed tariff and they are also offering a flexi tariff which could provide greater value for homes with battery storage too.
Not all the financial benefits are realised on electricity production or use. PV systems add value to a property as they contribute to a higher EPC (Energy Performance Certificate) rating, as buyers will reap the rewards of the reduced energy overheads. Furthermore, there are significant environmental benefits from producing your own clean energy and if requested we can detail the impact of this in terms of CO2 savings when we offer you a quotation.