If you’ve got solar panels on your roof in New Zealand, you’ve probably wondered which power company will actually pay you a fair rate for the energy you send back. The answer isn’t as simple as a single name — because the top provider depends entirely on when you export and how much surplus you produce.

4 related posts

Highest published buy-back rate (peak): 40c/kWh (Octopus Energy, winter peak) ·
Stable year-round buy-back rate: 15c/kWh (Meridian Energy) ·
Number of major NZ power companies offering solar buy-back: 10+ ·
Typical tariff range (excl. GST): 8c – 40c/kWh ·
Residential solar payback period (average): 5 – 10 years

Quick snapshot

1Confirmed facts
2What’s unclear
  • Whether Octopus Energy’s peak 40c/kWh rate will remain beyond the current promotional period
  • Exact future adjustments — most providers reserve the right to change rates with notice
3Timeline signal
  • Rates updated across major retailers in early 2025, with Octopus Energy introducing the highest peak tier (Current Generation)
4What’s next
  • Watch for rate adjustments in late 2025 — competition among retailers is intensifying

The following table consolidates the key data points from the comparison.

Metric Value
Highest advertised buy-back rate (peak) 40c/kWh (Octopus Energy OctopusPeaker, via Current Generation)
Highest stable year-round rate 15c/kWh (Meridian Energy, via PowerSwitch)
Lowest buy-back rate among major providers ~8c/kWh (some standard plans, per Selectra NZ comparison)
Typical monthly export from a 5kW system 200-400 kWh (summer)
Maximum system size for residential buy-back 10 kW (most providers)

Can you sell solar power back to the grid in NZ?

Yes — selling solar power back to the grid is fully legal and increasingly common across New Zealand. The Electricity Authority oversees the rules for distributed generation, ensuring households can export surplus electricity safely. Most power companies offer a buy-back rate, typically priced per kilowatt-hour (kWh) exported.

How does net metering work in New Zealand?

  • With net metering, your electricity meter runs backwards when you export — effectively offsetting your consumption at the retail rate. However, New Zealand providers increasingly use gross export tariffs, where exports are metered separately and paid at a dedicated buy-back rate.
  • On a gross tariff, every kWh you send out earns the buy-back rate; you still pay the full retail rate for what you consume. According to PowerSwitch (NZ government-backed comparison tool), gross tariffs are now the standard for new solar connections.

What is the difference between gross and net export tariffs?

  • Net tariff: your exported kWh reduces your billed consumption at the same retail price. Usually simpler but you only benefit if you export more than you consume.
  • Gross tariff: you get a separate payment for exports, often at a different (sometimes higher or lower) rate than your retail price. This gives more transparency about what you’re earning.
The catch

SolarScout’s 2026 comparison notes that gross tariffs give clearer earnings visibility — but the actual buy-back rate might be far lower than your retail import rate, so the value depends entirely on the specific offer.

The implication for NZ households: gross export tariffs are now the norm, meaning the buy-back rate is a direct income stream. You’re not just “offsetting” — you’re actually earning per kWh.

Which power company pays the most for solar?

A cross-analysis of published rates from the 12 largest retailers reveals a clear split: Octopus Energy leads on peak and time-of-day rates, while Meridian Energy offers the best stable all-year rate. Below is the full breakdown of published offers, gathered from Current Generation (NZ solar industry knowledge hub) and verified against retailer pages.

“You’ll get a year-round buy-back rate of 15c/kWh across our open term plans.” — Meridian Energy website

“Our peak buy-back rate (with Electric Kiwi) was good, but Octopus was the best of the bunch.” — Reddit user comment, r/nzsolar

Provider Buy-back rate (c/kWh) Key conditions
Octopus Energy (OctopusPeaker) 40c peak winter, 23c peak other, 10c off-peak, 5c overnight Requires time-of-day metering; winter peak is seasonal
Octopus Energy (OctopusFlexi) 17c No lock-in; simple flat rate
Meridian Energy 15c (open-term), 17c (3-year fixed with $300 credit) Year-round; buyer-created tax invoices provided
Electric Kiwi (MoveMaster) 20c peak, 10c off-peak Time-of-day split; other plans at 8c
Ecotricity 13c – 21c Varies by location, plan, and time of day
Pulse Energy 14.2c Varies by location
Power Edge 17.39c (with 5-year contract) / 12.5c (no contract) Contract term affects rate
Powershop 13c All plans
Genesis Energy 12c All residential plans
Frank Energy 11c No fixed-term; system < 50 kW
Nova Energy 10c Standard plan
Contact Energy 8c Most residential plans
Mercury Energy 5c (standard), ~11c (flex solar with seasonal peak/off-peak) Flex solar has summer/winter split
The upshot

Octopus Energy’s OctopusPeaker plan is the clear leader if you can shift most of your export to winter peak hours. For households that can’t manage time-of-day scheduling, Meridian’s 15c/yr rate is the most reliable across all seasons.

Bottom line: The pattern: the highest headline rates come with conditions — time-of-day windows, contract terms, or seasonal restrictions. A flat year-round rate of 15c from Meridian offers less volatility but also less upside.

Which electricity provider gives the best solar rebate?

Some providers offer upfront rebates or sign-up credits rather than just ongoing per-kWh payments. This can tilt the value equation, especially for households with smaller export volumes.

What is a solar rebate vs a buy-back rate?

  • A buy-back rate is the per-kWh payment for exported electricity — it accumulates over time.
  • A rebate is usually a one-time credit applied to your first bill or as a cash incentive for switching. For example, Meridian Energy’s $300 credit on its 3-year fixed-rate solar plan effectively adds to total returns.

Providers offering upfront rebates or credits

  • Meridian Energy: $300 credit on the 3-year fixed solar plan (17c/kWh buy-back rate).
  • Octopus Energy: no upfront rebate, but their Flexi plan has no lock-in — a different kind of financial flexibility.
  • Other providers (Genesis, Ecotricity, Frank) typically don’t offer sign-up credits; the value is entirely in the per-kWh rate.

The trade-off: an upfront $300 credit is helpful for cash flow, but over a decade of exports, the per-kWh rate dominates total earnings. A high rate without rebate usually wins in the long run.

Is selling back to the grid worth it?

For most NZ households with a well-sized solar system, the answer is yes — but the breakeven point depends heavily on the buy-back rate you lock in and your household’s consumption pattern.

Factors that affect profitability

  • System size: a 5kW system typically exports 200–400 kWh/month in summer but much less in winter.
  • Buy-back rate: at 40c/kWh peak, a single summer month could earn $80+; at 8c/kWh, the same export yields only $16.
  • Daily fixed charges: even if you earn from exports, you still pay a daily connection fee (typically 50c–$1.50/day).

Typical payback period for a 5kW system

  • With the highest buy-back rates (Octopus Energy peak): payback can fall to 5–7 years.
  • With typical standard rates (8–12c/kWh): payback may stretch to 10+ years.
  • The analysis from Current Generation notes that selling back is generally worthwhile if you can export significant surplus during peak periods.

Why this matters: the difference between 8c and 40c can nearly halve your payback period. Choosing the right provider isn’t just a small optimisation — it’s the difference between a 5-year and a 12-year return on investment.

Who has the best solar buy back rate in NZ?

Based on published tariff schedules in early 2025, Octopus Energy’s OctopusPeaker plan offers the absolute highest headline rate at 40c/kWh during winter peak hours — but it requires time-of-day metering and seasonal timing. Meridian Energy offers the best stable all-year rate at 15c/kWh (open-term) or 17c/kWh (3-year fixed). For households that can’t shift export timing, Meridian is the safest choice.

Current top rates by provider

  • Highest peak rate: Octopus Energy – 40c/kWh (winter peak)
  • Highest stable all-year rate: Meridian Energy – 15c/kWh (open-term), 17c/kWh (3-year fixed with $300 credit)
  • Best time-of-day split: Electric Kiwi MoveMaster – 20c peak / 10c off-peak
  • Good variable rate: Ecotricity – 13c to 21c depending on location and plan

How to choose based on your usage pattern

  • Export mostly during weekday afternoons? Octopus Energy’s peak rate targets those hours.
  • Export evenly across day and night? A flat rate like Meridian (15c) gives you consistent income without watching the clock.
  • Have a battery and can time exports? Octopus Peaker or Electric Kiwi MoveMaster reward you for sending power during high-demand windows.
Bottom line: Octopus Energy is the best for households that can time their exports to peak windows. Meridian Energy is the best for consistent, year-round earnings without complexity. For everyone else, Electric Kiwi or Ecotricity offer competitive middle-ground rates.

The choice depends on your household’s export pattern and tolerance for complexity. Reviewing your own generation data against the rate structures above will point you to the optimal provider.

Additional sources

solarscout.co.nz, comparesolar.co.nz, solarrepublic.co.nz, solarscout.co.nz, powercompare.co.nz, mysolarquotes.co.nz, canstarblue.co.nz, selectra.nz, thinksolar.co.nz

For a detailed breakdown of which providers offer the highest payments, you can compare solar buyback rates across the leading NZ energy companies.

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Frequently asked questions

What is solar buy-back and how is it different from net metering?

Solar buy-back is the payment you receive for exporting surplus electricity to the grid. Net metering offsets your consumption at the retail rate, while buy-back is a separate per-kWh payment typically at a different rate. New Zealand has moved largely to gross export tariffs, meaning you get a dedicated buy-back payment.

Do I need a special meter to sell power back to the grid?

Yes — you need a bi-directional meter that records both import and export. Most power companies install this as part of your solar connection. Without it, your exports won’t be measured.

How is the buy-back rate determined — fixed or variable?

Rates vary by provider and plan. Some are fixed flat rates (e.g., Meridian 15c/kWh year-round); others are time-of-day or seasonal (e.g., Octopus Peaker’s 40c winter peak). Rates can change with notice, so check your contract terms.

Are solar buy-back payments taxable in New Zealand?

Generally, no — buy-back payments are treated as a reduction in your electricity bill rather than income. However, if you earn significant amounts (e.g., running a commercial-sized system), Inland Revenue may view it as taxable income. Most residential households don’t need to declare it.

Can I switch providers if I have an existing solar installation?

Yes — switching is similar to changing any power provider. Your solar system stays in place, and the new provider will set up a buy-back agreement. Some providers require a minimum contract term; check exit fees before switching.

What happens to my buy-back rate if I install a battery?

Adding a battery doesn’t change the buy-back rate itself, but it changes your export pattern. If you store solar during the day and export during peak evening hours, time-of-day tariffs (like Octopus Peaker) become much more valuable.

Which regions in NZ have the best solar buy-back options?

Availability varies — Octopus Energy is currently only in Auckland and selected regions. Meridian Energy and Genesis have nationwide coverage. Check with each provider for regional availability before comparing rates.

How often do providers update their buy-back rates?

Most review rates annually or quarterly. The Electricity Authority’s PowerSwitch (government-backed comparison) tracks live updates, so it’s worth checking before committing to a plan.

For New Zealand households with solar panels, the choice between providers is clear: if you can shift exports to peak windows, Octopus Energy’s 40c/kWh winter rate is unmatched. If you want simplicity and consistency, Meridian Energy’s 15c/kWh year-round rate is the most reliable. The worst-case scenario is staying on a default plan with 8c/kWh — leaving hundreds of dollars on the table each year.