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So, you’ve taken the plunge and invested in solar panels. That’s fantastic! You’re not only helping the planet but also potentially saving money on your energy bills. But how much can you actually earn from the excess electricity your panels generate and feed back into the National Grid? That’s where the Smart Export Guarantee (SEG) scheme comes in, and EON Next has some interesting offers for its customers.

Understanding the Smart Export Guarantee (SEG) Scheme

The SEG is a government scheme launched in 2019 that ensures you get paid for the electricity your solar panels generate but don’t use. This replaced the Feed-in Tariff (FIT) scheme, which closed to new applicants in 2019.

While the FIT scheme offered a fixed payment for every kWh of electricity exported, the SEG allows suppliers more flexibility in the SEG rates they offer. This can be good news for homeowners, as some suppliers are now offering more competitive rates than the FIT scheme ever did.

Here’s a table summarizing the key differences between the SEG and FIT schemes

FeatureSEGFiT
Launch date1st July 20192010 (closed to new applicants in 2019)
Payment schemeVariable rates offered by different suppliersFixed rate per kWh of electricity exported
Export meter requirementYesYes

EON Next SEG Rates: A Tiered System

EON Next has introduced a tiered system for SEG payments, meaning the amount you get paid for your exported electricity will depend on the tariff you choose. They offer four different rates, ranging from a basic 3p per kWh to a premium plus 40p per kWh.

EON Next SEG Tariffs / EON Next SEG Rates

Energy CompanySEG Tariff NameWho Can Access This SEG TariffSEG rate per kWh 
EON NextNext Export Premium PlusEON Next customers who have had both solar panels and a battery installed by EON after 1/1/202440p(a)
EON NextNext Export PremiumEON Next customers who have had solar panels installed by EON after 1/1/202425p(a)
EON NextNext Export ExclusiveEON Next customers, or non-customers who solar installed by EON16.5p
EON NextNext ExportEveryone3p
Rates correct on 3 June 2024. (a) Rate fixed for 12 months.

As you can see, there’s a significant difference between the basic and premium rates. However, it’s important to note that qualifying for the higher rates often comes with conditions like having EON installing your solar panels and battery.

EON Next SEG Rates vs. Other Suppliers

While EON Next offers some competitive rates, it’s important to remember that they’re not the only player in the SEG market. Other energy suppliers are also offering attractive tariffs, with some even exceeding the 40p per kWh rate offered by EON Next’s premium plus SEG rate.

For instance, Octopus Energy has been making waves with its time-of-use SEG tariffs. These tariffs pay you more for exporting electricity during peak hours when demand is high. This can be a great option if you can shift your electricity consumption to these times, perhaps by running appliances like washing machines and dishwashers outside of peak hours.

Here’s a comparison table summarizing the SEG rates offered by EON Next & Octopus Energy

Energy CompanySEG Tariff NameWho Can Access This SEG TariffSEG rate per kWh 
EON NextNext Export Premium PlusEON Next customers who have had both solar panels and a battery installed by EON after 1/1/202440p(a)
Octopus EnergyIntelligent Octopus FluxOctopus customers who have solar panels and a GivEnergy battery27p(b)
EON NextNext Export PremiumEON Next customers who have had solar panels installed by EON after 1/1/202425p(a)
Octopus EnergyOctopus FluxOctopus customers who have solar panels and a battery21p(c)
EON NextNext Export ExclusiveEON Next customers, or non-customers who solar installed by EON16.5p
Octopus EnergyOutgoing FixedOctopus customers(d)15p
Octopus EnergyOutgoing Fixed LiteOctopus customers who have an EV8p
Octopus EnergySEG TariffEveryone 4.1p
EON NextNext ExportEveryone3p
Rates correct on 3 June 2024. (a) Rate fixed for 12 months. (b) Time-of-use tariff, approx. 27p average. Peak rates 4-7pm. (c) Time-of-use tariff, approx. 21p average. Peak rates 4-7pm; low rates 2-5am. (d) Only Octopus Energy customers (not white labels) can benefit from its Outgoing Fixed 15p/kWh rate. White labels include Affect Energy, M&S Energy, London Power and Co-op Energy.

Maximising Your Solar Panel Investment with NXTGEN Energy Ltd

If you’re keen to maximise your return on your solar panel investment, you might want to consider teaming up with a specialist solar panel installer like NXTGEN Energy Ltd. They can help you design and install a solar panel system that perfectly suits your home’s energy needs and ensure you’re getting the most out of your solar panels.

NXTGEN Energy Ltd can also guide you through the SEG process and help you choose the right energy supplier to get the best possible rates for your exported electricity.

Conclusion: Making the Most of Your Solar Power

While EON Next has certainly made strides in the SEG market with their tiered system, it’s always essential to do your research and compare offers from different suppliers before making a decision. After all navigating the world of SEG rates can be overwhelming. Remember, the goal is to generate a decent return on your solar investment while contributing to a greener future.

So, are you ready to take the plunge and embrace solar power?

If you are interested in installing solar panels at your home or business, contact us today on 01268 928 690 or via the ‘Enquire Now’ button below. We are an accredited MCS installer of solar panels and battery storage solutions so we can install your complete Solar PV System to MCS Standards and we can help you with every step of the process, from a free no-obligation quote and solar PV system design service to installation to aftercare.

FAQ: EON Next SEG Rates

What is the Smart Export Guarantee (SEG)?

The Smart Export Guarantee (SEG) is a government scheme that ensures you get paid for the excess electricity your solar panels generate but don’t use.

How does the SEG differ from the Feed-in Tariff (FIT)?

Unlike the FIT, which offered a fixed payment for every kWh of electricity exported, the SEG allows energy suppliers to offer variable rates.

What are the EON Next SEG rates?

EON Next offers four SEG rates: Next Export (3p/kWh), Next Export Exclusive (16.5p/kWh), Next Export Premium (25p/kWh for customers who installed solar panels through E.ON Solar), and Next Export Premium Plus (40p/kWh for customers who installed solar panels and a battery through E.ON Solar).

How can I qualify for the higher EON Next SEG rates?

To qualify for the Premium and Premium Plus SEG rates, you must be an existing EON Next and have installed your solar panels through EON Solar or be an existing EON Next and have installed your solar panels and battery installed through EON Solar, respectively.

Are there other energy suppliers offering SEG rates?

Yes, several energy suppliers offer SEG rates. Octopus Energy, for example, has time-of-use tariffs that can be more lucrative if you can shift your electricity consumption.

How can I maximise my returns from solar panels?

Consider using a specialist installer like NXTGEN Energy Ltd to design and install your solar panel system. They can also guide you through the SEG process and help you choose the best energy supplier.

Should I stick with EON Next for my SEG?

It’s essential to compare offers from different energy suppliers to ensure you’re getting the best possible SEG rate for your exported electricity.

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