E.ON launch solar buy back scheme following closure of Feed-In Tariff

E.ON has launched ‘Solar Reward’, a new payment scheme for homeowners wanting to fit solar panels.

It’s designed to plug a hole created by the closure of the government’s popular Feed-in Tariff subsidy scheme, which closed for new applicants yesterday (March 31).

Since 2010, the Feed-in Tariff scheme has guaranteed payments to around 900,000 generators for the total amount of electricity that’s produced, as well as for any energy exported to the grid

The first 500 new solar installation customers will be rewarded for exporting back to the grid, and Solar Reward will provide 5.24p per every kilowatt-hour (kWh) of energy exported.

Michael Lewis, Chief Executive of E.ON UK,  said: ‘Through Solar Reward – which we believe is the first offer of its kind in the UK – we want to continue encouraging and giving confidence to homeowners across Britain looking to invest in solar energy. We know how important solar is for our future which is why we’re leading the industry in rewarding our customers for doing their part to help.

‘By taking power into their own homes, and hands, and generating their own clean energy which rewards them for exporting back to the grid, this not only gives our customers greater control over reducing their electricity consumption but also helps us create a better tomorrow by providing more clean and green energy solutions.’