Solar Energy Buy Back Rates
Looking for the best solar and electricity rates? Chat to the Switchme team. 0800 179 482 or email us at firstname.lastname@example.org
We have collated New Zealand's leading solar energy retailers offering $$ to sell back to the grid. We suggest comparing your power bill and working out the best price for solar. Click here to compare power companies
How does solar buy back work?
A solar buyback provides solar owners with the option of selling the excess power they generate from their panels to power suppliers who offer this plan
How much electricity can I sell back to the grid?
How much money you can you make selling your electricity back to the grid can vary and depends on supplier rates. Since rates vary with the market value of electricity, there's no set dollar amount that you could be assured of or expect to be paid.. Buy back rates vary from suppliers so it is good idea to look around – here at Switchme we can help advise you of suppliers buy back rates and aid your process of exporting back to the grid and receiving the benefits of doing so – call 0800 179 482 for guidance and help.
How do I get paid for my solar power?
How does it work?
- Install eligible/appropriate technology such as solar panels in your home.
- Use the electricity that is generated by your system and sell back the excess energy to the grid via your chosen energy supplier. Switchme can advise you of suppliers and the best option for your property and area.
- Your supplier arranges the payments based on the rate arranged at the time of installation and your method.
Genesis Energy Buy Back Rates
HomeGen is for Genesis customers who would like to sell electricity that they create and don't need back into the grid. Currently offering 12 cents per kWh exported to the grid.
Only available to Genesis electricity customers with approved generation equipment (wind, solar or micro-hydro) and with no more than a 50 kWh output.
To get set up for HomeGen, you need the correct generation equipment and an import/export meter. This meter costs $127 including the installation of it – it will replace your current meter(s). There could potentially be other charges to be aware of such as costs from your network company to connect your generation equipment to the grid.
Mercury Buy Back Rates
Mercury is currently buying back power that you export at between 8 and 12 cents per kwh. Special terms do apply to rates. These rates can change and are not inclusive of GST or other discounts they offer on different plans. See Mercury solar rates here.
Mercury will install your solar panels, upgrade your current meter if needed to a smart import/export one that works to generate solar energy.
ChargeSmart is a locally-owned energy solutions provider with a proven track record in excellent customer care especially with new technology installations, like EV chargers. Mercury sold its solar business to ChargeSmart, effective 1 February 2021.
Meridian Buy Back Rates
Provide Solar buy back to customers generating electricity and wanting to export the excess to the grid.
Meridian will buy the excess at rates that based on average prices on the New Zealand Electricity Market. They also provide buyer-created tax invoices which is a time-saving benefit for GST-registered customers who need these details and documentation.
Meridian buys the exported electricity from you at a rate of 8 cents per kWh. This is then applied as a credit on your next electricity bill.
Meridian can assist you or your chosen solar provider to make sure that you have the correct import/export meter installed, ensuring you can harness the power of the sun and help export back to the grid.
Trustpower Buy Back Rates
Generate your own power? You may have the opportunity to sell your surplus generation to Trustpower.
Throughout New Zealand Trustpower buy electricity from domestic generators, including solar panels, micro hydro schemes and wind turbines under 10 kW capacity. This is called distributed generation and could be a great way for customers to help decrease their power costs
How your power is measured
Your import/export meter measures the ‘surplus energy you generate. The power you supply to the grid, after the power you use, is then taken from the power you generate. Whatever power you generate and use yourself is not metered, however this does still save you buying electricity. The meter is read or estimated monthly and the surplus energy is that you have generated will be credited to your monthly invoice at the generation rate in cents per kWh.
What you earn
Trustpower’s generation rate is in accordance with the cost of electricity on the market, adjusted for volume and other factors. Their current generation rate is 8.5c/ kWh + GST.
Solar Buddies™ is an option for Trustpower customers who have Solar Panels. If you've got solar panels, you may sometimes generate more power than what you can actually use. You can then choose to sell this surplus power back to your Trustpower supplier at market buyback rates (currently 7c per unit* for Trustpower customers). Solar Buddies™ offers you the opportunity of instead of selling your extra power back to Trustpower, you can actually sell it to people you choose as "buddies" at a rate you agree with them. Add several buddies and you can determine their rates – these can be different for each buddy – it’s up to you. It is to be noted that you can only sell up to 50 units to your buddy each mon
*For instance, 2 units = 2 kWh
See Trust Power Solar rates here
Electric Kiwi Buy Back Rates
If you are creating solar generation at home you will only pay for the additional electricity outside of what you have generated. On Electric Kiwi’s MoveMaster plan you'll get a 12.5c/kWh buyback rate for excess electricity that’s exported to the grid, or 8c/kWh on their other plans (excluding GST).
All Electric Kiwi plans offer a solar buyback rate. This will be added to your account if a solar register is connected at your property.
See Electric Kiwis solar rates here (search Solar on the page)
Powershop Buy Back Rates
Powershop offer solar buy-back will pay you for any excess generation your home exports back to the grid.
Their buy-back rate is subject to change and is currently 8.5 cents per kilowatt hour exported. You do need an appropriate import-export meter for this buy back option.
Powershop have a mobile app and online tools to make it easy to track how much power you are using and exporting. Every day Powershop will receive information from your meter on what you are generating and feeding back to them. This data will be accessible on your mobile app under the heading ‘daily export’ graph. It can also be seen on your desktop account as a ‘heat map’, offering you detail down to the half-hour.
When you receive your monthly power invoice it will also show the dollar value of any solar power that Powershop have bought back from you.
If you join Powershop and sign on to their solar buy-back scheme now, you can get $150 free power over your first twelve months if being a customer with them. See Powershop electricity rates here
Powershop solar rates - See more information here.
* Page last updated on the 31st January 2021.