The Irish public are embracing the new Government incentive to install residential PV Solar Systems and the opportunity to sell Solar Electricity back to the grid.
So How Much Can You Earn From Selling Solar Electricity to the Grid?
Solar panels can provide most of the electricity for a typical home. This saves on electricity from the grid, lowering your bills. Lower bills have been and will be the main benefit of solar panels in Ireland. However, there is now (from 2022) an extra benefit to solar panels in Ireland: Export payments.
When it’s bright, or you’re not using much electricity, solar panels can produce more power than you need. You can store some energy in a battery, but at some point your battery will be full. Eventually, surplus electricity will flow out of your house and into the grid. Irish solar panel owners did not get paid when this happened… until now.
According to the Government press release, here’s what you can look forward to:
Homeowners/Domestic Electricity Customers
You willll be eligible to sell surplus electricity to your electricity supplier (you can shop around for the best rate)
No cap on the amount of electricity you can sell
First payments to be “within a reasonable time after June 2022”
You can also get a grant (up to €2,400) towards the cost of the panels
Small (Up to 5.9kW)
Same export payments and grants as for domestic electricity customers
Large (6 kW +)
€0.135 guaranteed payment per kWh exported
Payment falls by €0.01 per kWh each year from 2024
Expected to commence in Q3 2022
€2,400 grant does not apply (but other incentives still might)
So How Much Can You Earn From Selling Solar Electricity To The Grid?
It all depends on how many panels you have and how much of your electricity is surplus.
Example: 6kW of solar panels on an Irish roof can generate about 5,500 kWh of electricity per year. If half the electricity is used in the house, and your electricity supplier offers €0.08 per kWh, then you’ll:
Save €605 by producing electricity for your own needs
Earn €220 for your exported electricity
Benefit €825 per year in total
Interested? Contact us today to see how we can assist you in setting up your PV Solar residential system.