Written by
Amy Buxton, Financial Trend Guru
, 6 December 2017

If you’re thinking about installing solar panels or already have them, you might be worried about trying to switch energy suppliers, in case you are tied in, but actually, you have no reason to be concerned.

While it is common practice for your current energy supplier to pay your Feed-in Tariff, this is not a stumbling block to finding a more cost-effective energy plan, as Feed-in Tariffs are a subsidy paid by your Feed-in Tariff licensee and that does not need to be the same company as your energy supplier. As an added bonus, you can decide to swap out which supplier buys your excess electricity. I'm on the fence about solar panels. 

Should I fit them?

Installing solar panels is a big decision, but one that many people are making. They offer a more environmentally responsible method for running your home, which is fantastic, but they can also earn you a decent amount of household income through the Feed-in Tariff, which sees you being paid for any excess electricity that your panels generate, but you don’t use.

You can choose which supplier to sell your excess electricity to, though it is common practice to select your current supplier, to keep everything simple.

Does every energy supplier pay Feed-in Tariffs? 

Every one of the ‘big six’ energy suppliers is bound by law to pay Feed-in Tariff and while smaller, independent operations have no obligation to do so, many choose to anyway. Something to remember is that what you will be paid for your electricity is a universal price, so there is little point in shopping around for a better reimbursement.

Who are the ‘big six’ energy suppliers?

If you are definitely giving thought to install solar panels, you should know who the main energy
suppliers are, for when you need to find a Feed-in Tariff payer. The ‘big six’ are:
 

 

#1

 

 

#2

 

#3

 

 

#4

 

 

#5

 

 

#6

 

 

 

 
Written by
Amy Financial Trend Guru
, 6 December 2017

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