Good Energy Launches FIT REGO Boost Service for Small-Scale Solar Generators

October 16, 2024 11:10 PM AEDT | By Team Kalkine Media

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Good Energy Launches FIT REGO Boost Service for Small-Scale Solar Generators — Image source: Shutterstock

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Key Points:

Good Energy launches a new service enabling FIT microgenerators to register for Renewable Energy Guarantees of Origin (REGOs), enhancing their recognition and earning potential.

The new service simplifies the complex process of applying for REGOs, making it more accessible for non-expert FIT generators.

Good Energy continues to advocate against the misuse of REGOs for greenwashing, ensuring transparency and authenticity in renewable energy sourcing.

Good Energy Group PLC (LSE:GOOD), a leading supplier of 100% renewable electricity and energy services, has announced an innovative new service aimed at supporting small-scale solar generators. The initiative allows Feed-in Tariff (FIT) generators to register for Renewable Energy Guarantees of Origin (REGOs), marking a significant advancement for microgenerators in the renewable energy sector.

This new service will enable FIT microgenerators to receive recognition for producing renewable electricity for the first time since the scheme’s launch in 2010. By opting into the program, FIT customers can potentially enhance their earning capacity by up to 9%*, a substantial increase that underscores Good Energy’s commitment to maximizing financial returns for its customers.

REGOs are certificates issued by Ofgem to verify that electricity is generated from renewable sources. However, the registration process for REGOs has traditionally been complicated and time-consuming, often deterring FIT generators, who may lack energy expertise, from participating. To address this issue, Good Energy has collaborated with Ofgem to create the FIT REGO Boost service, streamlining the registration process and making it more accessible for FIT generators.

The FIT REGO Boost service is available to participants in the FIT scheme, which has been closed to new entrants since 2019. With over 180,000 FIT customers, Good Energy is the largest voluntary administrator of the scheme, continuously seeking ways to enhance support for microgenerators. In addition to the new REGO service, Good Energy has transitioned more than 55,000 FIT customers to smart export systems. This upgrade allows FIT generators to earn income based on the actual energy they share with the grid, rather than the previously assumed 50%. Analysis from Good Energy indicates that, on average, FIT generators contribute around 60% of their generated energy back to the grid.

The introduction of the FIT REGO Boost service, alongside smart export, positions Good Energy to create a more balanced relationship between its generator customers and the energy supplied to end-users in the future. This initiative represents a significant step forward in the evolution of decentralized energy systems.

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