What is Smart Export and how does it benefit Feed-in Tariff customers?
Over 850,000 homes and businesses currently receive Feed-in Tariff (FIT) payments for the renewable power they generate and export to the grid.
As the second largest FIT administrator in the country, we support thousands of businesses to receive their payments. And now, we are proactively moving our eligible FIT customers over to Smart Export.
In this article, we explain how FIT payments are currently calculated; how this changes if you move onto Smart Export; and how to switch your FIT portfolio to Good Energy.
How are FIT payments calculated?
If you registered your small renewable technology before April 2019, you will receive two kinds of FIT payments for the power you generate:
- Your generation payment – for every unit (kWh) of electricity you generate
- Your export payment – a payment that estimates that you’ll send 50% of the energy you generate to the grid. This is known as a deemed export payment.
The unit rates you get for each of these payments will be distinctive to your generation type and when you installed your technology.
What changes with smart export payments?
Smart Export pays FIT customers with a smart meter for the energy they actually export to the grid, rather than an estimated 50%.
Our initial findings* from April to September 2023 show that our customers are exporting on average 60% of the electricity they generate to the grid – meaning they are making more money by moving to Smart Export. The larger the portfolio of sites, the more money customers on Smart Export can make.
Smart Export will only affect a generator’s export payment. The generation payment, which makes up the majority of a FIT payment, remains unaffected.
Why should I move to Smart Export with Good Energy?
We’re proactive: Good Energy is among the first FIT administrators to proactively move customers over to Smart Export and enable them to get paid for what they actually export.
We’re experts: As a voluntary FIT administrator, we manage this process for our customers because we genuinely want to help households and businesses to make more money from the renewable electricity they generate.
We have lots of in-house expertise and take all of the administration out of this process for our customers, such as by raising the export MPAN and working with the District Network Operator on their behalf.
Earn for what you export, sooner: By being with Good Energy, our customers are benefitting from getting metered export payments sooner than they would be if they were with another FIT administrator. This could see you earning more from your portfolio, like Good Energy’s customers*.
Access more smart tariffs: We well as proactively moving our customers onto Smart Export, we’re also working on a new product that will offer small generators more for the electricity they export. Open to FIT customers and SEG customers alike, SmartGen Portfolio pays generators with smart meters above market rates for the power they export – with the flexibility to switch back to FIT rates if the market drops.
Get in touch if you would like to move your FIT to Good Energy to start benefiting from Smart Export straight away.
*Our FIT customers are exporting on average 60% of the electricity they generate to the grid, based on 100-160 days of readings from 1800 meter points between April and September 2023.
