Solar Buy-Back Rates NZ: Every Retailer Compared (2026)
NZ buy-back rates run from about 8c/kWh to 24c/kWh depending on your retailer and plan, and the highest headline rates come with the tightest conditions. That gap can mean hundreds of dollars a year. This guide breaks down every retailer, explains the July 2026 regulation, and shows you how to read past the headline to the rate you will actually earn.
Already on solar? Check your current buy-back rate against the table below. If you’re getting less than 10c/kWh, switching could save you $200 or more per year.
Key Takeaways
What you need to know
- NZ buy-back rates run from about 8c/kWh to 24c/kWh (Meridian’s published winter peak). The highest headline rates carry the most conditions, and some, like Contact’s Good Charge peak, are not published at all until you sign up.
- New Zealand has no government-mandated feed-in tariff. Each retailer sets their own rates, and they can change them at any time.
- Self-consumption is worth 2 to 4 times more than exporting. Every kWh you use yourself saves you 30 to 38c. Every kWh you export earns you only 8 to 16c.
- Regulatory changes from July 2026 require large retailers to offer at least one time-varying export plan, though no minimum buy-back rate is mandated.
- Don’t chase the highest buy-back rate in isolation. Your import rate, daily charges, and overall plan value matter more than export cents alone.
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Compare up to 3 quotesWhat Is a Solar Buy-Back Rate?
A solar buy-back rate is the price your power company pays you for surplus electricity exported to the grid. In NZ, published rates run from about 8c/kWh to 24c/kWh (Meridian’s winter peak). There is no government-mandated minimum, so each retailer sets its own rate and can change it at any time. Some retailers do not publish a headline export rate at all: Contact prices its Good Charge plan by address, so you only see the number once you are inside the sign-up flow.
When your solar panels produce more electricity than your home is using at that moment, the surplus flows back into the grid. Your power company pays you for that exported energy. The rate they pay is your “buy-back rate” (also called a feed-in tariff or export rate).
In countries like Australia and the UK, governments mandate minimum feed-in tariffs. New Zealand doesn’t do this. Each electricity retailer sets their own buy-back rate, and they can adjust it whenever they like. That’s why rates vary so much across the market.
Here’s the thing that catches most people off guard: you pay 30 to 38 cents per kWh to buy power from the grid, but you only get 8 to 16 cents for every kWh you sell back on a standard flat rate. That’s a big gap, and it’s the main reason self-consumption matters more than your export rate (more on that below). How much you actually export depends on where in NZ you live: the regional output data shows the spread between Northland and Invercargill.
You buy electricity at 30 to 38c/kWh but sell it back at 8 to 16c on a standard rate. The real value of solar is using the power yourself.
Your buy-back rate is shown on your power bill as a credit. Most retailers calculate it per kWh, appearing as a negative line item that offsets your usage charges. Some retailers offer a flat rate across the day, while others (like Octopus) pay more during peak hours.
Every NZ Retailer Compared
Contact’s Good Charge is quoted all over the internet at 25c/kWh peak, but Contact does not publish it: it prices by address, so the only Contact figure on the record is its 8c/kWh standard rate, the market’s lowest. The highest peak any retailer actually publishes is Meridian’s, at 24c/kWh in the winter peak windows (15c/kWh the rest of the year). Octopus pays 23c/kWh at peak on its Peaker plan, and Electric Kiwi advertises 23c/kWh on its own page while its Powerswitch profile puts MoveMaster at 20c/kWh. Ecotricity pays 21c/kWh peak with a market-leading 16c/kWh off-peak, Mercury pays 18c/kWh (ex GST, so about 20.7c including GST) via its Harrisons promo (capped at 500kWh per cycle), and Genesis sits in the middle at a flat 12.5c/kWh (ex GST). Note that the biggest headline rates are the most heavily conditioned: read the table before you switch.
On mobile, a few columns are hidden for readability. Here are the key details for each retailer.
- Octopus Energy: OctopusFlexi is time-of-use: 19c/kWh peak, 14c/kWh off-peak on most networks. The Peaker plan (for battery systems) pays 23c/kWh during peak export hours (7-11am, 5-9pm). Import rate: ~30c/kWh.
- Meridian Energy: Open-term Freedom or Night Saver plans pay 15c/kWh year-round, lifting to 24c/kWh in the winter peak windows (7-10am and 5-9pm, Jul-Sep) with a $120 credit. A separate 3-year fixed solar plan locks 17c/kWh flat with a $300 signup credit. Import rate: ~32c/kWh.
- Mercury: Standard 11.1c/kWh. The 18c/kWh Harrisons promo (ex GST) needs a Harrisons install plus a 2-year contract, and is capped at 500kWh per billing cycle (exports above that revert to 11.1c). Import rate: ~33c/kWh.
- Electric Kiwi: Time-of-use plan, and the sources disagree. Electric Kiwi's own solar page advertises 23c/kWh peak and 11.5c/kWh off-peak; its Powerswitch profile puts MoveMaster at 20c/kWh peak and 10c/kWh off-peak, and the Everyday and GO250 plans at 8c/kWh. Ask for the number in writing before you switch. Import rate: ~32c/kWh.
- Ecotricity: 100% certified-renewable retailer. 21c/kWh peak export, 16c/kWh off-peak. Strongest off-peak rate among major NZ retailers. Import rate: ~31c/kWh.
- Genesis Energy: Flat 12.5c/kWh (ex GST) across all residential plans, the same rate as its Frank brand. Paid at one rate all day, so there is no peak window to chase. Import rate: ~34c/kWh.
- Contact Energy: 8c/kWh standard, the market's lowest. Good Charge advertises a higher rate for the 7-9am and 6-10pm weekday windows, but Contact prices by address and does not publish the cents. The widely-quoted 25c is on no Contact page. Import rate: ~29c/kWh.
- Frank Energy: Flat 12.5c/kWh (ex GST), no fixed-term contract. Systems up to 50kW. Not available to GST-registered customers. Import rate: ~28c/kWh.
Which retailer should you pick?
If you have a battery, the highest published peak rates are Meridian’s 24c/kWh (winter only) and Octopus Energy’s Peaker at 23c/kWh. Contact’s Good Charge is quoted at 25c/kWh, but Contact does not publish it, so you cannot compare it before you sign, and its off-peak is only 8c/kWh, the lowest on the market. Which plan wins depends on how much of your export you can actually push into the peak windows. If most of your export lands in the middle of the day, a higher off-peak rate like Octopus’s beats a bigger headline number every time.
If you prefer rate certainty, Meridian’s 3-year fixed solar plan locks 17c/kWh with a $300 signup credit. Its open-term Freedom and Night Saver plans pay 15c/kWh year-round, lifting to 24c/kWh in the winter peak. Either way you trade the highest peak rate for predictability.
Genesis at 12.5c/kWh (ex GST) is a solid middle-ground option with no conditions or caps. Mercury’s Harrisons promo rate of 18c/kWh (quoted ex GST, so about 20.7c including GST) looks attractive, but it’s capped at 500kWh per billing cycle and requires going through a specific installer.
Why the Highest Rate Isn't Always Best
This is the single biggest mistake we see solar homeowners make. They switch to whichever retailer offers the highest buy-back rate without looking at the full picture. Here’s why that can backfire.
The import rate matters more
A typical NZ household with solar still imports 40 to 60% of their electricity from the grid (evenings, cloudy days, winter). If you switch to a retailer paying 23c/kWh for exports but charging 38c for imports, you could end up paying more overall than staying with a retailer offering 12c exports and 28c imports.
Let’s run the numbers for a typical 6.6kW system:
- Annual generation: about 9,000kWh
- Self-consumption (60%): 5,400kWh
- Exports: 3,600kWh
- Grid imports: 3,500kWh
With a 23c export / 38c import retailer, your export credit is $828, but your import bill is $1,330. Net cost: $502.
With a 12c export / 28c import retailer, your export credit is $432, but your import bill is $980. Net cost: $548.
The difference is only $46 in this example. But change the self-consumption ratio (say you’re out all day and only self-consume 40%), and the cheaper import rate wins easily. Always compare the full plan, not just the export number.
Daily fixed charges add up
Every NZ power plan includes a daily fixed charge (typically $1.30 to $2.20/day). Some retailers with high buy-back rates make up the margin with higher daily charges. Over a year, that’s $475 to $800 before you use a single kWh. Always factor this in.
Contract terms and conditions
Mercury’s 18c rate is capped at 500kWh per billing cycle. If your system exports more than that (most 6kW+ systems will in summer), anything above the cap drops to their standard 11.1c. And Meridian’s headline 24c only applies in the winter peak windows (Jul-Sep); outside those it’s 15c. Always check what the top rate is actually conditional on.
Always compare the full plan: import rate, export rate, daily charges, and any caps or conditions. The best buy-back rate on paper isn’t always the best deal in practice.
Self-Consumption vs Export: Where the Real Money Is
Here’s the maths that changes how most people think about solar. Every kWh you generate and use in your own home saves you the full retail rate (30 to 38 cents). Every kWh you export only earns you the buy-back rate (7 to 17 cents). That means self-consumed solar is worth two to four times more than exported solar.
For a typical system generating 9,000kWh per year:
- At 60% self-consumption (5,400kWh), you save $1,728 at 32c/kWh avoided import
- The remaining 3,600kWh exported at 12c earns you $432
- Total benefit: $2,160/year. But 80% of the value comes from self-consumption, not exports
If you could push self-consumption from 60% to 80% (using a battery, timer-controlled hot water, or shifting appliance usage), your savings jump significantly even though you’re exporting less. For what a battery actually adds to your installed cost, see the full NZ pricing breakdown covering panels, inverters, batteries, and electrical work.
Smart habits that boost self-consumption
You don’t need a battery to increase self-consumption. These changes are free:
- Run your dishwasher, washing machine, and dryer during the middle of the day when panels are producing
- Set your hot water cylinder to heat during solar hours (your electrician can install a timer, or your installer may configure this)
- Charge devices and run the vacuum during daylight hours
- If you have an EV, charge it during the day whenever possible
- Use delay-start timers on appliances so they run while you’re at work
Self-consumed solar is worth 2 to 4 times more than exported solar. Simple habit changes can boost your self-consumption from 60% to 80% without a battery.
Batteries: the self-consumption multiplier
A home battery stores your daytime solar surplus and releases it in the evening when you’d otherwise buy from the grid. This can push self-consumption from 60% to 80 or even 90%. At current battery prices ($9,000 to $24,000 installed), the payback on a battery alone is still long (8 to 15 years). But when you factor in time-of-use savings and backup power value, it’s getting closer to worthwhile for many households.
Read our full guide: Solar Battery Storage NZ: Costs, Brands, and Is It Worth It?
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Compare up to 3 quotesThe July 2026 Regulatory Change
The Electricity Authority has been reviewing distributed generation pricing for several years. In late 2025, they confirmed that new regulations come into effect from 1 July 2026 requiring large retailers (those with 5% or more of the market) to offer at least one time-varying export plan that pays more for exporting at peak times. Importantly, this does not set a minimum buy-back rate: retailers still choose the actual cents-per-kWh.
What does that mean in practice? Some details are still being finalised, but the direction is clear:
- Retailers will need to demonstrate their export rates reflect the actual value of distributed solar to the grid
- The Electricity Authority will publish guidelines on how to calculate this value
- Smaller retailers (under 5% market share) won’t be covered initially, though this may expand later
- The rule mandates a time-varying plan, not a minimum rate: no guaranteed cents-per-kWh floor is set
Two related changes have already landed alongside it. From 1 April 2026, lines companies must pay a rebate for power you export during peak windows (passed on by your retailer as a credit). And from 11 May 2026, new residential solar systems have a default 10kW export limit. Both are separate from the 1 July retailer rule, so it pays to check how all three affect your setup.
This is good news for solar homeowners, but temper expectations: because no minimum rate is mandated, low-paying retailers are not forced to lift their cents-per-kWh. Don’t expect the gap between retail and export rates to disappear entirely. The grid has real costs (transmission, distribution, maintenance) that need to be covered.
From July 2026 big retailers must offer a time-varying export plan, though no minimum rate is mandated. Self-consumption is still worth more than exporting.
Our advice: don’t wait for the regulations to go solar. The financial case already works with current rates. Any improvement in buy-back rates from July 2026 is a bonus on top of your existing savings.
How to Switch Retailers for Better Rates
Switching power companies in NZ is free and usually takes 1 to 3 business days. There’s no penalty for switching (unless you’re on a fixed-term contract). Here’s how to do it properly.
1. Step 1: Check your current plan
Log into your current retailer’s app or website. Note down your import rate (cents per kWh), export/buy-back rate, and daily fixed charge. If you can’t find these, call them and ask.
2. Step 2: Compare on Powerswitch
Go to Powerswitch.org.nz (a free government-backed comparison tool run by Consumer NZ). Enter your address and usage details. It will show you estimated annual costs across all available retailers in your area.
Important: Powerswitch doesn’t always show buy-back rates prominently. You may need to click into plan details or contact the retailer directly to confirm the export rate.
3. Step 3: Compare both import AND export
Don’t just look at the buy-back rate. Calculate your total annual cost including imports, exports, and daily charges. The cheapest overall plan may not have the highest buy-back rate.
Switching power companies is free and takes 1 to 3 business days. Always compare the total plan cost, not just the export rate.
4. Step 4: Check meter compatibility
Some retailers and plans require a smart meter. Most NZ homes already have one, but if yours hasn’t been upgraded, your new retailer will arrange it (usually free). A few time-of-use plans need a meter that records half-hourly data. Check with the new retailer before signing up.
5. Step 5: Sign up online
Most switches happen entirely online. Your new retailer handles the transfer with your old one. You won’t lose power during the switch. Your old retailer will send a final bill, and the new one starts billing from the switch date.
Time-of-Use Plans: Are They Worth It?
Time-of-use (TOU) pricing charges you different rates depending on when you use (or export) electricity. Typically, you pay more during peak hours (7 to 9am, 5 to 9pm) and less off-peak. Some TOU plans also pay more for solar exports during peak periods.
Octopus Energy’s Peaker plan is the standout example in NZ. It pays 23c/kWh for exports during peak hours versus around 10c/kWh off-peak. If your system or battery is still exporting at 5pm in summer, that peak rate really adds up. We timed every published peak window against a real solar day in our breakdown of when those peak rates are actually paid, which is what decides whether a TOU plan is worth it for your household.
TOU works best if you can shift usage
The catch with TOU pricing is that your import rate is also higher during peak hours. If you’re cooking dinner, running the heat pump, and charging your EV between 5 and 9pm, those expensive peak import rates can eat into any export gains.
TOU plans are best suited to households that:
- Have a battery that can discharge during peak hours (avoiding expensive peak imports)
- Are disciplined about running appliances off-peak (delayed-start dishwashers, overnight EV charging)
- Have a north-facing roof that still produces well into the late afternoon
When flat-rate plans win
If your household’s usage pattern is hard to shift (young kids, working from home, high evening usage), a flat-rate plan with a decent buy-back rate is simpler and often just as cost-effective. Genesis at 12.5c/kWh (ex GST) with no conditions is a good example.
How Buy-Back Rates Affect Your Payback Period
Your solar payback period is how long it takes for your system to “pay for itself” through electricity savings and export credits. Buy-back rates play a role, but they’re not the biggest factor.
Let’s compare payback periods for a 6.6kW system ($13,000 installed) with 60% self-consumption:
The difference between the worst and best buy-back rate? About one year on your payback period. That’s meaningful, but it’s the self-consumption savings ($1,728) doing the heavy lifting in every scenario. Increasing your self-consumption from 60% to 80% has a bigger impact on payback than doubling your buy-back rate.
Switching from 8c to 16c buy-back saves about one year on your payback. Lifting self-consumption from 60% to 80% saves you more.
Tips to Maximise Your Export Revenue
While self-consumption should be your first priority, there are ways to get more from the power you do export.
Choose the right retailer for your usage pattern
If you export most during the middle of the day (typical for households where everyone’s at work), a flat-rate plan with a strong buy-back rate makes sense. If you have a battery and can time your exports for peak hours, a TOU plan like Octopus Peaker will earn you more.
Size your system appropriately
Oversizing your system sounds appealing, but if most of the extra generation goes to export at 12c/kWh, the return on those extra panels is much lower. A well-sized system that matches your usage pattern (with a modest buffer for future needs like an EV) is usually the sweet spot.
Monitor your generation and export patterns
Most modern inverters come with monitoring apps (Enphase, Fronius, SolarEdge, Huawei). Check your daily export patterns. If you’re exporting heavily between 10am and 2pm, that’s power you could be using yourself with simple habit changes.
Review your plan annually
Buy-back rates change. New plans launch. What was the best deal last year might not be this year. Set a calendar reminder to review your plan every 12 months. Use Powerswitch to check if a better option is available.
Consider a battery for export arbitrage
On a TOU plan, you can store cheap daytime solar in a battery and export it during peak hours for a higher rate. This is sometimes called “export arbitrage.” It’s not the primary reason to get a battery, but it’s a nice bonus if you’re already considering one.
What to Do Next
If you’re already on solar, check your current buy-back rate and compare it to the table above. If you’re getting less than 10c/kWh, it’s worth switching.
If you’re still considering solar, the buy-back rate is one piece of the puzzle. The bigger questions are: how much will you self-consume, what will the system cost, and what’s your total payback period? Our full payback breakdown walks through all three together, and our installer guide covers how to vet who actually quotes you. The free solar survey below takes about 3 minutes and gives you personalised estimates for all of these.
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Compare up to 3 quotesFrequently Asked Questions
What is the highest solar buy-back rate in NZ right now?
The highest rate any retailer actually publishes is Meridian’s 24c/kWh, and it applies only in the winter peak windows (7 to 10am and 5 to 9pm on weekdays, July to September). The rest of the year that plan pays 15c/kWh. Octopus Energy’s Peaker plan pays 23c/kWh at peak, and Electric Kiwi advertises 23c/kWh on its own solar page, though its Powerswitch profile puts MoveMaster at 20c/kWh, so get that one in writing. Contact’s Good Charge is quoted all over the internet at 25c/kWh, but Contact publishes no export rate at all: it prices by address, and the only Contact figure on the record is the 8c/kWh Powerswitch lists for its home buy-back. Every one of these top rates applies only during limited peak hours, so the rate you earn across a full year is much closer to the off-peak number.
Do I have to pay tax on solar buy-back income?
For residential solar systems used primarily for your own home, the IRD does not treat buy-back credits as taxable income. If you’re generating at a commercial scale or running a business, different rules may apply. Check with your accountant if you’re unsure.
Can my retailer change my buy-back rate?
Yes. Unless you’re on a fixed-term plan (like Mercury’s 2-year Harrisons plan), your retailer can adjust your buy-back rate with notice. Most give 30 days’ notice, and you can switch to another retailer if the new rate doesn’t work for you.
What happens to my exported power at night?
Solar panels don’t generate at night, so there’s nothing to export. Any electricity you use at night comes from the grid at your standard import rate. This is where batteries come in: they store daytime solar for evening use, reducing how much you buy from the grid after dark.
Is there a minimum system size to get a buy-back rate?
No minimum size is required. Even a small 2kW system will export surplus power and earn buy-back credits. However, very small systems may not export enough to make the rate a significant factor in your savings. For most NZ homes, a 5kW or larger system is the practical starting point.
Will the July 2026 regulations guarantee a minimum buy-back rate?
No. The Electricity Authority has not set a minimum rate. From 1 July 2026, large retailers (5% or more of the market) must offer at least one time-varying export plan that rewards peak exports, but they still choose the actual cents-per-kWh. Separately, from 1 April 2026 lines companies must pay a peak-export rebate. Neither guarantees a minimum buy-back rate.
Should I wait for better buy-back rates before going solar?
We wouldn’t recommend waiting. The financial case for solar already works at current rates because most of your savings come from self-consumption, not exports. Any improvement in buy-back rates from the July 2026 regulations is a bonus. Every month you wait is a month of savings you miss out on.
How do I find my current buy-back rate?
Check your latest power bill. Look for a line item showing export credits (sometimes called “solar buy-back” or “generation credit”). It will show both the kWh exported and the rate per kWh. If you can’t find it, log into your retailer’s app or call their customer service line.
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Comments
2What months are classed as winter and what months are classed as summer, we have 2 different buy back rates on our plan
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