The ultimate guide to electricity tariffs for solar

Choosing the best electricity tariff can be difficult, but it’s crucial for homeowners looking to maximise savings – especially if you have solar panels and battery storage.

Understanding import and export tariffs

What are import and export tariffs?

Import and export tariffs are the rates you pay for the electricity you consume from the grid, and the rates you receive for sending electricity back to the grid.

• Import tariffs
  These are the rates you pay for electricity you draw from the grid.
• Export tariffs
  These are the rates you are paid for any excess electricity you generate and send back to the grid.

You don’t have to use the same supplier for your import and export tariffs.

How do import and export tariffs work with solar PV?

When you generate your own electricity using solar PV, you reduce the amount of electricity you need to import from the grid, lowering your energy bills. If you have a home battery storage system, you can store excess energy generated during the day and use it during peak hours, further minimising your reliance on the grid.

The energy you don’t use can be sent back to the grid, earning you money. Ensuring you have the best import and export tariffs for your home can maximise both your savings and your earnings.

What is the Smart Export Guarantee (SEG)?

The SEG ensures you are paid for excess electricity you generate and send back to the grid. Licensed electricity suppliers are required to offer at least one SEG compliant export tariff to homeowners with an eligible solar PV installation.

Is my solar PV installation eligible?

You must demonstrate that the installation and installer are certified. You’ll usually have an MCS certificate to prove this. You must also have an export meter, and an export meter point administration number (MPAN). If your solar was installed by us, you’ll have all of this already. We’re MCS certified installers in both solar PV and battery storage.

Time of use tariffs

What are time of use tariffs?

Time of use tariffs charge different rates depending on when you use electricity. They reflect the fact that it costs different amounts to generate electricity at different times of the day, depending on the type and amount of power available to the grid. It costs more to product electricity at peak times, and less in the middle of the night. These tariffs usually feature cheaper rates during off-peak periods, and higher rates when demand is highest. Traditional time-of-use tariffs include Economy 7 and Economy 10, however there are now more modern options created specifically for those with EV’s or home battery storage.

As an example, Octopus Flux offers cheaper electricity rates between 2am and 5am daily, and more expensive peak rates between 4pm and 7pm. If you have a system with home battery storage, you could charge your batteries between 2am and 5pm to make the most of the cheaper electricity rate, and discharge the batteries during peak times to maximise your earnings.

There are many time of use tariffs available from many different energy suppliers, and choosing the best one is really down to your home’s individual needs.

What are the best SEG rates?

We’ve looked at some of the most popular tariffs to find some of the best currently available SEG rates, for exporting excess solar energy back to the grid.

*These are time of use tariffs, which pay different amounts depending on the time of day and your location. We’ve given the average peak rate.

Which is the best tariff for me?

Choosing the right electricity tariff is essential for maximising your savings. Consider your energy needs and the tariffs that best suit your home to make the most of your renewable energy investment. Remember to shop around, and that you don’t need to use the same supplier for both import and export tariffs.

**Disclaimer:** The information provided in this guide is intended for general informational purposes only and does not constitute financial or professional advice. While we strive to present accurate and up-to-date information, electricity tariffs can vary significantly based on individual circumstances, energy usage patterns, and location. We strongly recommend that customers conduct their own research and consult with energy providers to find the tariff that best suits their specific needs. HeatElectric is not responsible for any decisions made based on the information provided in this guide.