Great news! The Government will soon be rewarding those for exporting renewable energy to the grid. The introduction and implementation of this plan is combined with new laws to ensure businesses and households are paid for exporting electricity to the grid, through renewable technology. The most common of course, being solar panels.
The implementation will run through the Smart Export Guarantee (SEG). This will place a legal obligation on energy suppliers, who tailor for more than 150,000 customers, covering more than 90% of the retail market, to introduce the export tariffs by 1st January 2020. This is a significant step for the industry, as more and more people are expected to move towards the use of renewable technology in their businesses and homes. The financial benefit adds that extra incentive.
The question being raised by many is, just how will this work? Following the introduction of this scheme, businesses and homes that have installed small-scale renewable energy technology will be paid for each unit of electricity that they sell to the grid. This will be tracked through smart meters, and will cover the likes of wind turbines and installed solar panels with a capacity of up to 5MW.
This concept is an additional push from the government, following the previous Feed-in Tariff (FiT) subsidy scheme. This particular initiative closed to new entrants in April this year, but had previously supported the installation of around 850,000 renewable projects.
Furthermore, it has “never been a better time to get into renewable energy”, states the Department for Business, Energy and Industrial Strategy (BEIS). A key reason for this, is that residential solar panels are now more than 50% cheaper than in 2011.
The scheme is another designed to help the growth of the small-scale renewable export market. This is expected to bridge the gap to smarter efficient energy systems being installed across the UK, with the popularity also being reflected in the use of smart meters.
Utility Trade Group have an abundance of experience in the design and installation of renewable energy solutions, combined with consultation in the energy procurement market. If you’re looking for some advice on how we might be able to help you by installing renewable technology and export of your energy to the grid, then get in touch today.
