What is the Smart Export Guarantee (SEG)

Okay, let’s unravel the mysteries of the Smart Export Guarantee (SEG). Think of it like this: you’ve got sunlight hitting those solar panels… why not turn those powerful rays into actual cash? It’s a smart way to take charge of your energy situation.

See, the UK’s all about going green these days, so naturally, the government came up with the SEG in 2020. Basically, the big energy companies have to cough up some money if you’ve got a fancy renewable setup (like solar panels) and you’re sending extra electricity back to them. It’s like getting an allowance for being eco-friendly!

So, why should this matter to you?

Well, let’s face it, energy bills are no joke. The SEG is a chance to actually offset some of those costs, maybe even make a few extra bucks. Who doesn’t like the sound of that?

Here’s the gist of it:

The whole idea is simple – if you’re generating your own clean energy, why should it disappear just like that? The SEG makes sure you get your hard-earned share. It’s basically the government saying, “Good on you for going green! Here’s a little something for your efforts.”

Right, so who’s this for?

Well, if you’ve got solar panels, a snazzy wind turbine, one of those cool anaerobic digesters, those little hydro plants (up to a certain size), you’re in the club! Even folks with those fancy combined heat and power setups can get in on the action. Just make sure your setup is certified, so it’s up to standard.

Now, for the fun part – getting paid! Your energy company sets the rate they’ll pay for each kilowatt-hour (kWh) you send their way. It’s a bit like shopping around for the best deal, so do some digging. The government says they have to pay, but the exact amount is up to them.

Want to squeeze the most out of the SEG?

Get a smart meter! It’s like having a little accountant for your energy – shows how much you’re sending out. Then you can be strategic about when you use power to boost those returns.

Here’s the big picture: the SEG is about way more than money. It’s about a greener planet and being in control of your energy. As we keep getting greener, things like the SEG will become even more important.

So, the Smart Export Guarantee isn’t just boring rules, it’s about making choices for your wallet and the planet. If that sounds like your thing, why not have a chat with us at SolarWyze? We’re solar ninjas here in East Anglia, here to help you make the most of the SEG and build a greener future. Now, that’s pretty cool, isn’t it?

To give you an idea what who’s doing what, here’s our list of the latest prices as of April 2024.

Don’t forget, these juicy rates can vary significantly depending on whether the tariff is fixed or variable, the length of the tariff, and additional benefits like battery storage. Also, some suppliers offer higher rates for customers who also import electricity from them, and certain requirements must be met to qualify for these tariffs, such as having a specific type of meter or meeting installation certifications.

FAQ: Your Guide to the Smart Export Guarantee

• Can I participate in the SEG with existing solar panels, or is it only for new installations? Absolutely, you can join the SEG party with your existing solar panels. The key requirement is that your installation must be MCS certified (or equivalent) to ensure it meets the necessary standards for quality and safety. So, if your setup is already up and running, you’re good to go – just check your certification and start enjoying the benefits.
• How do I find the best SEG tariff? It’s a bit like shopping for the best broadband deal; it requires a little legwork. Start by checking with your current energy supplier, but don’t stop there. Shop around and compare offers from different suppliers. Look beyond just the per kWh rate; consider their customer service, payment frequency, and contract terms. Comparison websites can be handy, but also direct contact with suppliers can give you a clear picture.
• Is there a minimum or maximum amount of electricity I need to generate to benefit from the SEG? No, there isn’t a minimum or maximum generation limit to qualify for SEG payments. Whether you generate a small amount of surplus electricity or have a more significant setup capable of producing lots of extra energy, you can still earn money. However, the financial benefit will naturally scale with the amount of electricity you export.
• Can I switch energy suppliers if I’m not satisfied with my SEG tariff? Yes, you can switch energy suppliers if you find a better SEG tariff elsewhere. Your ability to switch depends on the terms of your current contract, so it’s wise to check for any penalties or lock-in periods. Remember, when you switch, it’s not just about the tariff; consider the supplier’s reputation and customer service.
• How does the payment process work? Do I get paid automatically? After you’ve signed up for an SEG tariff, your energy supplier will pay you for the surplus electricity you export back to the grid. You’ll typically need a smart meter or an export meter to accurately track the amount of electricity exported. Payments are usually made on a quarterly or annual basis, directly into your bank account, depending on your supplier’s policy.
• How does the SEG benefit the environment? The SEG plays a crucial role in promoting the use of renewable energy sources by providing financial incentives to produce green energy. By encouraging households and businesses to generate their own renewable electricity and rewarding them for exporting surplus back to the grid, it reduces the reliance on fossil fuels, lowers carbon emissions, and contributes to a cleaner, more sustainable future for us all.

If you’ve got a headache from all those numbers, don’t panic. Grab a cuppa and give our team a call on 01206 700431 who will be happy to talk you through it.