What are smart export payments?
We’re rolling out smart export payments for our Feed-in Tariff customers. But what are smart export payments, and how do they lay the foundations for new ways to make solar panels more affordable?
Around a million households around Britain generate electricity using rooftop solar panels. Lots of these houses get paid for generating renewable electricity, and for sending any power they don’t use to the national electricity grid, through a government scheme called the Feed-in Tariff.
Put simply, smart export payments mean households signed up to the Feed-in Tariff that also have up-to-date smart meters will get paid for the exact amount of electricity they send to the grid, rather than an estimate.
Want to know more about how solar panels work? Watch our video >
What is the Feed-in Tariff?
The Feed-in Tariff (FIT) is a government scheme that launched in 2010. It was designed to incentivise households to install solar panels, by paying them a small rate per unit of renewable electricity generated.
As well as paying households for the total amount of electricity generated, the FIT also provides a separate payment for electricity exported to the grid. This is called an export payment.
Read more about the Feed-in Tariff and how FIT payments work >
How do smart export payments work?
Traditionally, you’ll receive an export payment for 50% of the total amount of electricity you generate, which is the FIT scheme’s standard estimate of the proportion of power that you export.
But when your export payments are based on smart meter readings, you’ll be paid for the electricity you actually export. If you export more than 50%, you’ll earn more than you do on traditional deemed export payments.
Who can get smart FIT export payments?
The FIT scheme closed to new applicants in 2019. This means that only people already signed up to the FIT scheme can receive smart FIT export payments.
You also need to have an up to date smart meter so that we can collect regular, accurate readings to track how much electricity you’re exporting. This means you need a second-generation smart meter (usually installed after 2018), or an upgraded first-generation smart meter. You can find out more about different types of smart meter here.
What about people who want to get solar panels installed in the future?
Smart FIT export payments are a great way to collect smart data about just how much electricity British households export to the grid.
This information is helping energy suppliers like Good Energy develop export tariffs that will pay a competitive rate for the electricity you send to the grid.
Essentially, we’ll buy the electricity you don’t need at home to supply others who do.
Keep an eye on our website for news about when new export tariffs will launch, or sign up to our monthly newsletter, Good Thinking.
Switching your FIT account to Good Energy
If you have a FIT account with a different supplier, you can switch your FIT to Good Energy using our simple online journey.
With over 180,000 FIT customers, we’re the UK’s second largest FIT administrator. We’re dedicated to making sure that households that generate electricity get the same care and support as those who use it. That means we have invested in developing services that make it easier to take care of your account, from our quick online switching journey (no need to download, fill out and post a lengthy form) and digital meter readings.
So if you don’t yet have your Feed-in Tariff with Good Energy, you’ll find a warm welcome with our community of home green energy generators.
Read more about smart FIT export payments here.
