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 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…
Smart Export Guarantee Rates UK 2022
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.
|Supplier||Tariff Name||Tariff Type||Tariff Length||Tariff Rate (/kW)||Payment Cycle||Includes Battery Storage||Must be on supplier import tariff|
|1||Social Energy||Social Energy Hub||No longer offers SEG tariff||N/A||N/A||N/A||N/A||N/A|
|2||Tesla||Tesla Energy Plan¹||Fixed||Unknown||12.0p||Unknown||Yes (must be Tesla Powerwall)||Yes (Octopus Energy)|
|3||Tesla||Tesla Energy Plan²||Fixed||Unknown||10.0p||Unknown||Yes (must be Tesla Powerwall)||Yes (Octopus Energy)|
|4||Social Energy||Smarter Export||No longer offers SEG tariff||N/A||N/A||N/A||N/A||N/A|
|5||Bulb Energy||Export Payments||Fixed||No fixed end date||5.57p||3 months||Yes||Yes|
|6||Octopus Energy||Outgoing Fixed||Fixed||12-month fixed term||7.5p||Monthly||Yes||Yes|
|–||E.ON Energy||Next Export Exclusive||Fixed||12-month fixed term||5.5p||Unknown||Unknown||Yes|
|8||OVO Energy||OVO SEG Tariff||Fixed||12-month fixed term||4.0p||3 months||Dependent on Installation||No|
|–||ScottishPower||Smart Export Variable Tariff||Currently Fixed||No fixed end date||5.5p||6 months||Unknown||No|
|10||SSE||Smart Export Tariff||Fixed||No fixed end date||3.5p||12 months||Unknown||Yes|
|–||Shell Energy||SEG V1Tariff||Currently Fixed||No fixed end date||3.5p||12 months||Unknown||Yes|
|12||British Gas||Export & Earn Flex||Currently Fixed||No fixed end date||3.2p||6 months||Yes||No|
|13||E.ON Energy||Next Export||Fixed||12-month fixed term||3.0p||Unknown||Unknown||No|
|14||Utility Warehouse||UW Smart Export Guarantee||Fixed||No fixed end date||2.0p||Unknown||Unknown||Unknown|
|15||EDF Energy||Export+Earn||Fixed||12-month fixed term||1.5p||Unknown||Unknown||Unknown|
Table last updated September 2022.
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.
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 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).