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Solar export disproportionate to import

Hello all. With all the energy issues at the moment, we took the decision to have solar panels installed and we think it was a great idea, however, I’d like to know what the buy back Octopus currently offer at 7.5p pkW is so low, when they are clearly earning a lot more off my exported energy! 

As you can see, we exported 10x more energy than we used, but still paid about the same amount as we earned. 

Does anyone else offer a better export rate? Why so disproportionate?!?

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Comments

  • Krakkkers
    Krakkkers Posts: 1,330 Forumite
    1,000 Posts Third Anniversary Name Dropper
    Because the alternative letting it go back to the grid and getting zero.
  • That doesn’t answer my question, but thanks! 👍
  • Krakkkers
    Krakkkers Posts: 1,330 Forumite
    1,000 Posts Third Anniversary Name Dropper
    The answer then is more competition for excess.
  • Krakkkers
    Krakkkers Posts: 1,330 Forumite
    1,000 Posts Third Anniversary Name Dropper
    Some early adopters of Solar are getting 60p plus for their feed in.
  • Magnitio
    Magnitio Posts: 1,294 Forumite
    1,000 Posts Fourth Anniversary Name Dropper
    edited 8 September 2022 at 1:20PM
    Octopus Agile Outgoing pays good rates. averaged over 30p/kWh last month. At 2PM today it is 31.49p. Does require smart meter though.
    6.4kWp (16 * 400Wp REC Alpha) facing ESE + 5kW Huawei inverter + 10kWh Huawei battery. Buckinghamshire.
  • wrf12345
    wrf12345 Posts: 1,037 Forumite
    Seventh Anniversary 1,000 Posts
    many countries, the solar output is fully credited to the house owner so you would be receiving money rather than paying it out... retail energy and Ofgem are a disgrace but you presumably knew what you were signing up for...
  • Spies
    Spies Posts: 2,279 Forumite
    Part of the Furniture 1,000 Posts Photogenic Name Dropper
    Ask Octopus to go on Agile Export.
    4.29kWp Solar system, 45/55 South/West split in cloudy rainy Cumbria. 
  • I’ll look into Agile, I was slightly put off with this tarrif due to its fluctuating nature. Those on Agile, how does it fair over a 12 month period? Thanks in advance. 
  • MWT
    MWT Posts: 10,722 Forumite
    10,000 Posts Sixth Anniversary Name Dropper
    I’ll look into Agile, I was slightly put off with this tarrif due to its fluctuating nature. Those on Agile, how does it fair over a 12 month period? Thanks in advance. 
    As long as you are not on one of their EV tariffs, you can consider using Agile Outgoing for your export, you do not have to use Agile for your imports though.
    Do also consider that your import costs include a significant element for transport costs which do not apply to your exports, so you can't compare them directly.

  • I’ll look into Agile, I was slightly put off with this tarrif due to its fluctuating nature. Those on Agile, how does it fair over a 12 month period? Thanks in advance. 
    https://www.energy-stats.uk/octopus-agile-outgoing-export/
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