What will power companies pay us for our power?
This is one of the 1st questions we get asked by our clients.
Not all of the power companies will pay you for the power that you export to them.
The power company puts an import/export meter in your meter box that measures power both ways.
If you plan your system size to suit your needs then the amount that you export could generate credits that help with your power bills in the winter when your system generates a bit less power and you use a bit more.Your solar system firstly provides power to your house that it uses straight away and any excess is “exported” to the power company for a credit.
So, what will power companies pay us for our solar power? As of the date of writing this which is June 2013 the rates that the power companies we deal with will pay you for your exported power are as follows:
Power Company Renewable Energy Tariffs (as at October 2014)
Meridian Energy Meridian will credit you 10c for every kwh that you export in the winter (May to September) and 7c for every kwh in the summer (October to April).
Contact Energy Currently will pay you 8c plus gst per kwh for each kwh you export but you will need to invoice them to get your credit.
Mercury have advised us by email that the buy back rate has been set at 8 cents/kWh.
Genesis currently only pay 5.95c kwh even though they market themselves as being “Green”.
Please Note: As power company tariffs change from time to time we advise all our customers to make enquiries to determine which power company is best for them.
Power Companies – Be sure to talk to the right people
If you need any information on the renewable energy tariff for your power company you can ask them directly, be aware though that we have had many clients who have been given incorrect information by call centre staff so it pays to make sure you are talking to someone in the right division to get the hard facts.
One of the great things about generating your own power is that if you have a holiday home and a main home you can put a system on your holiday home and as long as you have both accounts with the same power companies you can ask them to apply your power credit to your home account.
That way your holiday home can be making you money all year long.
Contact SolarKing today for no obligation, free solar quotes or give our friendly team a call on 0508 Solar NZ for free solar advice.
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