Martin Lewis has revealed that people with solar panels on their homes can stand to earn hundreds of pounds. The MoneySavingExpert founder has shared a new guide on how to make the most of solar panels on the website.

He wrote on X: “Got solar panels? Can you switch tariff to earn £100s more. Our new guide to navigating your way through the complex array of solar tariffs to max your returns…” Over 1.5 million households in the UK already have solar panels. They have a hefty upfront cost – according to the Energy Saving Trust – a typical 3.5 kilowatt-peak PV solar panel system costs about £6,100. But after this, a typical household with this system can knock between £190 and £350 a year off bills at current Energy Price Cap rates. This means it could take a typical home at least 10 years to recoup the costs of installing panels. But you can still make money on the energy you don’t use.

If you had panels fitted between 2010 and March 2019, you will be on the Feed-In Tariff (FIT). Under this, you get paid by the Government (in England, Scotland, and Wales) for all the electricity you generate – it is income tax free, guaranteed for up to 25 years, and rises with inflation.

The export rate is fixed between 5.25p and 7.39p per kWh for up to 25 years. You can switch to the SEG scheme (see below), but these tariffs only last 12 months and can change frequently.

If you got solar panels after April 2019, the Smart Export Guarantee (SEG) scheme pays you for each kilowatt hour (kWh) of electricity that your solar panels generate and then export back to the grid.

The amount you can earn will depend on how much of your solar-generated electricity you use yourself, as the more you use, the less you have to sell. It also depends on your provider, as rates can range from just 1p per kWh to 30p per kWh.

There are different types of export tariffs for panels installed after 2019. Those installed by an energy company tend to have the best rates, between 15p and 25p per kWh (type one).

The other three types of export tariffs can be switched between: those that require you to be with the same supplier for solar export and energy supply, and have a solar battery (type two); those that require you to be with the same supplier for solar export and energy supply (type three); and those that offer standalone solar export tariffs (type four).

Annual earnings for type one are £225 to £375 a year, type two are £75 to £450, type three are £75 to £250, and type four are £15 to £90.

According to Money Saving Expert, the best SEG tariff is the Intelligent Octopus Flux by Octopus Energy, which pays 22p to 30p per kWh, depending on the time. This is a type two tariff that pays out every three months.

The best type three tariff is Next Export Exclusive by E. on Next, which offers 16.5p per kWh, with a yearly pay frequency. The rate is also fixed for 12 months. Scottish Power offers the best type four tariff with its SmartGen scheme. This offers 6p per kWh, paying out every six months.