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Understanding UK Smart Export Guarantee (SEG)
The UK Smart Export Guarantee (SEG) is a government policy that enables households and businesses with solar panels to earn money by selling their excess electricity back to the grid. Under this scheme, energy suppliers are required to offer tariffs to customers for the electricity they export to the grid.
Unlike its predecessor, the Feed-in Tariff (FIT) scheme, which ended in 2019, the SEG focuses on paying for the electricity exported rather than the total amount generated. This means that consumers are incentivized to consume more of their self-generated electricity to maximize their profits.
Participation in the SEG scheme is voluntary, but it presents a great opportunity for solar panel owners to not only reduce their electricity bills but also potentially earn extra income from their renewable energy generation.
Profiting from Battery-Stored Solar Energy
One way to maximize the benefits of the SEG scheme is by investing in battery storage technology. By storing excess solar energy in batteries, homeowners and businesses can further reduce their reliance on the grid and increase their energy independence.
Battery storage allows consumers to store surplus electricity generated during the day for use during peak demand periods or at night when solar panels are not producing energy. This flexibility not only helps in reducing electricity bills but also enhances the overall efficiency of the solar PV system.
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In addition, with the combination of solar panels and battery storage, consumers can take advantage of time-of-use tariffs to further optimize their energy usage and savings. This setup enables them to sell excess energy back to the grid when prices are high and draw electricity from the grid when prices are low, ultimately leading to greater financial returns.
