New tariff to incentivise solar installations with Good Energy having previously recognised huge potential in the market. Image: Pixabay.

Renewable energy supplier Good Energy has launched a new smart export tariff for households with solar panels that will see 10p paid per kWh.

The “Power for Good” tariff will pay households with solar panels installed 10p per kWh for renewable energy exported. Doing so could lead to the typical solar-powered home getting around £150 per year for the energy shared.

Good Energy released a similar tariff for businesses earlier this year which marked an “evolution for the business” with the scalability offering significant potential, the firm said.

Customers that choose to move to a smart export will receive payment for the actual amount of electricity they export, as opposed to the 50% of what they generate covered by the Feed in Tariff (FiT) scheme’s standard estimate of the proportion of a customer’s export.

This means that customers that export more than 50% of the electricity they generate through technologies such as solar panels and micro-wind turbines could earn more.

The new tariff supports Good Energy’s intention to capitalise on the growing interest surrounding solar panels. Recent research conducted by the company recognised a growing appetite for solar generation with over 250,000 UK-based households considering a solar installation by 2026.

Creating a competitive tariff to coincide with solar could incentivise many to install solar at home.

“Solar is a key pillar of our green energy services strategy and today's announcement marks another significant milestone in our journey towards being the go-to provider and one-stop-shop for solar power generation and leading export tariff prices. It is a pleasing development which follows swiftly on the back of our first solar installation, and we expect it to drive more households to switch to solar,” said Nigel Pocklington, CEO of Good Energy.

“Following a year of record energy prices, we expect the growing interest in solar to continue at a significant rate as the Government, together with businesses and consumers, focus on building long-term renewable energy solutions. We will continue to drive interest and expand our customer base with competitive leading export tariffs, financing and bundling to make cutting carbon cost-effective and accessible for all.”