Good Energy Group PLC (AIM: GOOD), is pleased to announce that Good Energy Solar customers will now be able to access an exclusive 40p per kilowatt hour export tariff as the Company has doubled its Solar Savings Exclusive rate.

The new 40p per kilowatt hour rate, which is fixed for 12 months, is the highest export tariff rate available on the market and eligible for Good Energy customers who have installed a solar array and battery storage through Good Energy Solar, have a smart meter and are on one of Good Energy’s supply tariffs. The announcement reinforces Good Energy’s commitment to rewarding existing customers using multiple energy-saving products within the Good Energy ecosystem.

The rate could see a typical home with a 10-panel solar and storage installation effectively receiving free electricity after their bill reductions and export payments. Based on a typical household usage of 2700kWh and an annual electricity bill of £873, bills would be reduced to £293.52, and an annual export payment of £322.37 for 25% of generation would leave them in credit by £28.84. With 10 panel solar and storage installations from £10,500, this means customers could pay off more than 8% of the upfront costs in a year.

Tom Parsons, director of sales and origination at Good Energy, said: “Since Good Energy launched HomeGen – the first ever export tariff for UK homes with solar – 20 years ago, we have been committed to helping people to become generators of renewable power themselves. With this new export rate, we are continuing to help microgeneration make financial sense.

“Doubling what was already a competitive export tariff to match the best rates on the market shows exactly that – providing a one-stop solution for green-minded customers and offering a suite of products that help them simultaneously reduce carbon and save money. By focusing on multiple products and tariffs that work in tandem, we are working to incentivise customers to embark on a deeper and broader relationship with us and boost their overall lifetime value.”

CEO Nigel Pocklington provides an overview of the recent interim results in the video below