Best Smart Export Guarantee Rates in 2024

Last updated: April 19, 2024

If you have solar panels or are thinking of installing them, you have probably heard of the Smart Export Guarantee (SEG).

The SEG launched on 1 January 2020 and is a government-backed initiative. 

The SEG requires all UK energy suppliers to pay those who generate low-carbon electricity when they export it back to the national grid.

This of course includes the electricity generated from domestic solar panels.

So how much can you expect to earn? Here we compare the current rates you can expect…

Best Smart Export Guarantee Rates 2024:

The table below shows the current rates currently on offer, bear in mind that the table will be updated regularly in line with price changes.

SupplierTariff NameTariff Type Tariff LengthTariff Rate (/kW)Payment CycleIncludes Battery StorageMust be on supplier import tariff
1Social EnergySocial Energy HubNo longer offers SEG tariffN/AN/AN/AN/AN/A
2TeslaTesla Energy Plan¹FixedUnknown12.0pUnknownYes (must be Tesla Powerwall)Yes (Octopus Energy)
3TeslaTesla Energy Plan²FixedUnknown10.0pUnknownYes (must be Tesla Powerwall) Yes (Octopus Energy)
4Social EnergySmarter ExportNo longer offers SEG tariff N/AN/AN/AN/AN/A
5Bulb EnergyExport PaymentsFixedNo fixed end date5.57p3 monthsYesYes
6Octopus EnergyOutgoing FixedFixed12-month fixed term 7.5pMonthlyYesYes
E.ON EnergyNext Export ExclusiveFixed12-month fixed term5.5pUnknownUnknownYes
8OVO EnergyOVO SEG TariffFixed12-month fixed term 4.0p3 monthsDependent on InstallationNo
ScottishPowerSmart Export Variable TariffCurrently FixedNo fixed end date5.5p6 monthsUnknownNo
10SSESmart Export TariffFixedNo fixed end date3.5p12 monthsUnknownYes
Shell EnergySEG V1TariffCurrently FixedNo fixed end date3.5p12 monthsUnknownYes
12British GasExport & Earn FlexCurrently FixedNo fixed end date3.2p6 monthsYesNo
13E.ON EnergyNext ExportFixed12-month fixed term 3.0pUnknownUnknownNo
14Utility WarehouseUW Smart Export GuaranteeFixedNo fixed end date2.0pUnknownUnknownUnknown
15EDF EnergyExport+EarnFixed12-month fixed term1.5pUnknownUnknownUnknown

Table last updated April 2024.

How much money will you save with solar panels?

A new solar panel system can save you around half of your electricity bill on average and the financial gains to be made are even more impressive with the new Energy Price Cap taking effect.

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For example, the average household with a 4.2 kW solar system could save you as much as £514 a year on your energy bills (based on the new October price cap).

If you also use a solar battery, you could save even more, in fact, without one around 50% is returned back to the National Grid.

So by using a solar battery you could save an extra £230 on average or sell the energy back to the grid using the Smart Export Guarantee (SEG).

The SEG allows you to sell the energy you generate back to the grid and depending on the supplier you choose you could sell it at 7.5p for every kilowatt hour (kWh).

Therefore, to conclude you could save as much as £744 a year for the average sized home (that’s the £514 from the energy generation itself and £230 in SEG revenues you’ll generate for the year).

FAQ: Smart Export Guarantee (SEG) in the UK

What is the Smart Export Guarantee (SEG)?

The Smart Export Guarantee is a fantastic initiative that mandates licensed electricity suppliers with a customer base exceeding 150,000 to offer a tariff and pay small-scale generators for low-carbon electricity exported to the national grid. It’s a brilliant scheme designed to reward individuals and businesses who invest in renewable energy production.

Who is eligible for the SEG?

Absolutely everyone who has installed eligible low-carbon technology, including solar photovoltaic panels, wind turbines, micro combined heat and power, hydro, and anaerobic digestion with a capacity up to 5 megawatts. Also, domestic-scale batteries can participate in the SEG. You need to make sure your installation is certified under the Microgeneration Certification Scheme (MCS) or equivalent to qualify.

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How does the SEG tariff work?

The SEG requires energy suppliers to pay for exported electricity as long as the energy is metered, and the payments must be based on actual exports to the grid. Each supplier can set their tariff rate, but it must be greater than zero at all times—essentially, they can’t get away with not paying you!

Which energy suppliers offer SEG tariffs?

All large energy suppliers are required by law to offer an SEG tariff because they have over 150,000 customers. Smaller suppliers can voluntarily offer an SEG tariff, and many do because it’s good business and promotes green energy.

How do I apply for the SEG?

First, ensure your renewable installation is certified. Next, contact energy suppliers who offer SEG tariffs to find out their specific application process. It usually involves proving your eligibility and providing details about your energy-generating equipment.

How is my energy export measured?
Your exported electricity must be accurately measured using a meter compliant with the supplier’s requirements. Most people will have a smart meter installed that can track what you generate and export in real-time.

Can I switch my SEG tariff or supplier?

Yes, you’re not locked into one supplier or tariff. Just like switching any other energy tariff, you can shop around for the best SEG rate and terms that suit your needs. Always a good idea to keep the competition on their toes!

How often will I get paid for my exports?

This depends on your energy supplier’s terms. Some might pay you monthly, others quarterly or annually. Make sure you understand the payment schedule before you sign up—it’s important!

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Are there any taxes on SEG payments?

No, the government has confirmed that SEG payments are not subject to income tax for households. This makes it an even more attractive option for those looking to reduce their carbon footprint and make a little money at the same time.

Why was the SEG introduced?

The SEG was introduced to support the UK’s transition to a low-carbon future. It follows the closure of the Feed-in Tariff scheme and aims to continue encouraging the uptake of renewable energy technologies in the UK. It’s a smart move—good for both the economy and the environment!

Feel free to reach out to your chosen energy supplier for more detailed information or to discuss how the Smart Export Guarantee can benefit you specifically. It’s a great step forward in promoting renewable energy and sustainability in the UK!