HOMEOWNERS with solar panels could be guaranteed hundreds of pounds a year if not more by selling excess electricity. Payments will be made to encourage households and businesses to generate their own power for the grid under the scheme. Wind power and solar forms of energy will allow for extra income tracked by their Electric smart meter. Energy Suppliers will bid for electricity meaning homeowners will get the best price for their energy under new laws introduced on Monday. The Smart Export Guarantee comes ahead of a government announcement expected next week on a net target of zero emissions by 2050 which will be very interesting to see. Energy Minister Chris Skidmore, said: “The future of energy is local and the new smart export guarantee will ensure households that choose to become green energy generators will be guaranteed payment for electricity supplied to the grid. “We want the energy market to innovate and it’s encouraging to see some suppliers already offering competitive export tariffs to reduce bills. “We want more to follow suit, encouraging small-scale generation without adding to consumer bills, as we move towards a subsidy-free energy system and a net zero emissions economy.”
A record was set at noon on a Friday in May 2017, when solar energy supplied around a quarter of the UK’s electricity. However, solar panel owners are not always at home on sunny days to reap the benefit. The new rules will allow them to make money if they generate electricity for the grid. Some 800,000 householders with solar panels already benefit from payments under a previous scheme. Greg Jackson, the founder of Octopus Energy, said: “These smart export tariffs are game-changing when it comes to harnessing the power of citizens to tackle climate change”. A few suppliers, including Octopus, already offer to buy solar power from their customers.
We think this is a brilliant approach to deliver a cleaner planet whilst giving the general public an opportunity to earn a passive income from something whilst doing some good. Solar is quickly advancing and the technology available today is extremely efficient and from this new smart export guarantee, it shouldn’t just save money on your electricity bill it should make you money. Be sure to follow us to find out the verdict of the governments supposed zero emissions by 2050 talk that’s expected to take place.