Solar Buy Back Rates NZ 2026: Which Power Company Actually Pays Best?
Most comparison sites rank retailers by buy back rate alone. That's misleading. Octopus Energy and Meridian offer NZ's highest flat rate at 17c/kWh — but self-consuming power at 34c saves twice as much as exporting at 17c. Your best strategy depends on how much you export, whether you have a battery, and whether you're willing to lock into a contract.
SolarScout TeamKey Takeaways
Octopus Energy and Meridian offer NZ's best flat buy back rates at 17c/kWh (with conditions). But self-consumption at 34c/kWh saves nearly double what exporting earns. Battery owners can unlock 40c/kWh during peak hours. The smartest strategy? Use more of what you generate.
- 1Best flat rates: 17c/kWh (Octopus, Meridian) — but lock-ins or seasonal conditions apply
- 2Self-consumption saves 34c/kWh. Exporting earns 12-17c. Use your solar first.
- 3Battery + TOU plan = 23-40c/kWh for peak exports (Octopus, Electric Kiwi, Ecotricity)
- 4Export >50%? Prioritise buy back rate. Export <30%? Prioritise low import rates instead
- 5From July 2026, all large retailers must offer time-varying buy back rates
Current NZ Solar Buy Back Rates (January 2026)
Most NZ power companies pay between 8-17c per kWh for exported solar. The table below shows buy back rates alongside typical import rates — because net cost is what actually matters.
Rate check: We verified these rates with each retailer in January 2026. Rates change — confirm directly before switching.
| Retailer | Buy Back | Best Rate | Import Rate | Lock-in | Best For |
|---|---|---|---|---|---|
| Octopus EnergyTOP | 13c | 40c | 22-26c | None | Battery owners |
| Meridian | 12c | 17c | 25-30c | 3 years | Stability seekers |
| Electric Kiwi | 9c | 23c | 23-28c | None | TOU optimisers |
| Powershop | 13c | 13c | 24-29c | None | Flexibility |
| Genesis | 12.5c | 12.5c | 26-31c | None | Simplicity |
| EcotricityCANTERBURY | 16c | 60c | 24-28c | None | Canterbury battery owners |
Octopus Energy
Buy back
Best
Import: 22-26c
Battery owners
No lock-in
Meridian
Buy back
Best
Import: 25-30c
Stability seekers
3 years contract
Electric Kiwi
Buy back
Best
Import: 23-28c
TOU optimisers
No lock-in
Powershop
Buy back
Best
Import: 24-29c
Flexibility
No lock-in
Genesis
Buy back
Best
Import: 26-31c
Simplicity
No lock-in
Ecotricity
Buy back
Best
Import: 24-28c
Canterbury battery owners
No lock-in
Import rates are indicative and vary by region and plan. The point: compare net cost, not just buy back rates.
What is a solar buy back rate?
When your solar panels generate more electricity than you're using, the excess flows back into the grid. Your smart meter records this, and your retailer pays you for it. That's your buy back rate — sometimes called a feed-in tariff or export rate.
The catch? You're selling at wholesale (8-17c/kWh) and buying back at retail (25-35c/kWh). Using solar directly always beats exporting it.
Example:
Your 6.6kW system generates 8,000 kWh/year. You use 5,500 kWh directly. The remaining 2,500 kWh gets exported.
At 17c/kWh buy back: 2,500 × 17c = $425/year in credits
At 12c/kWh buy back: 2,500 × 12c = $300/year in credits
That $125 difference matters — but if the 17c retailer charges 32c for imports while the 12c retailer charges 24c, the import savings usually outweigh the export difference.
The Fine Print: What Headline Rates Don't Tell You
The highest rate isn't always the best deal. Every premium rate comes with conditions — lock-in periods, regional limits, or seasonal availability. Here's what you need to know before you switch.
| Retailer | Headline Rate | The Catch |
|---|---|---|
| Meridian | 17c/kWh | Requires 3-year fixed contract |
| Octopus | 40c/kWh | Winter only (Apr-Sep), drops to 23c rest of year |
| Mercury | 18c/kWh | Must install via Harrisons, 2yr contract, capped at 500kWh/month |
| Ecotricity | 60c/kWh | Canterbury/Orion network only, battery required, trial programme |
| Electric Kiwi | 23c/kWh | Peak hours only (7-9am, 5-9pm weekdays) |
Requires 3-year fixed contract
Winter only (Apr-Sep), drops to 23c rest of year
Must install via Harrisons, 2yr contract, capped at 500kWh/month
Canterbury/Orion network only, battery required, trial programme
Peak hours only (7-9am, 5-9pm weekdays)
Our take
If you want the highest rate without conditions, Powershop's 13c or Genesis's 12.5c are your best bet. If you're willing to commit, Meridian's 17c with the $300 credit is solid value over 3 years.
Why the Highest Buy Back Rate Isn't Always Best
Here's the maths most comparison sites won't show you. The average NZ household pays 34-39c per kWh for grid power but only earns 12-17c for exported solar. Every kWh you use yourself saves roughly double what you'd earn by exporting it.
💡 Real example
You generate 20 kWh on a sunny day.
Option A: Export everything
Export all 20 kWh at 17c = $3.40
Option B: Prioritise self-use
Use 15 kWh yourself (saves 15 × 34c = $5.10)
+ export 5 kWh (5 × 17c = $0.85) = $5.95
Difference: $2.55 more per day by prioritising self-use.
That's $930/year — more than any rate difference would give you.
This is why obsessing over 12c vs 17c can miss the point. If you're exporting most of your generation, you've probably oversized your system or you're not home during the day. The real opportunity is using more of what you generate.
Three Buy Back Strategies for Different Households
Your best approach depends on one key number: what percentage of your solar generation do you export? Here's how to choose the right strategy.
Quick decision guide:
- →Export more than 50%? Strategy A (prioritise buy back rate)
- →Export 20-50%? Strategy B (balance import and export rates)
- →Export less than 20%? Strategy C (ignore buy back, optimise import)
- →Have a battery? Strategy D (time-of-use plans)
Most NZ solar households fall into Strategy B or C — typical systems export 30-40% of generation.
Strategy A — High exporters (50%+)
Prioritise buy back rate
If you export more than half your generation — typically because you're not home during the day — the buy back rate matters. Lock in the highest stable rate you can.
Who it's for:
- • Households away during peak solar hours
- • Oversized systems relative to daytime usage
Recommended plans:
- • Meridian Solar Plan (17c, 3yr)
- • Powershop (13c, no lock-in)
Strategy B — Balanced users (20-50% export)
Balance import and export rates
If you export 20-50% of generation, both your import rate and export rate matter. Don't sacrifice cheap grid power for a slightly better buy back.
Who it's for:
- • Typical households with some daytime presence
- • Properly-sized systems
Recommended approach:
- • Compare total annual cost, not just export rate
- • Use Powerswitch.org.nz with your actual usage
Strategy C — Low exporters (under 20%)
Ignore buy back, optimise import rate
If you export less than 20%, the buy back rate is almost irrelevant. Focus on the cheapest import rate and maximising what you use directly.
Who it's for:
- • Work-from-home households
- • EV owners charging during the day
Optimisation tips:
- • Hot water diverters
- • Timed appliances (dishwasher, washing)
- • Midday EV charging
Strategy D — Battery owners
Time-of-use plans unlock 23-40c/kWh
With a battery, you can store midday solar and export during evening peak when rates are highest. This unlocks time-of-use plans that pay 23-40c during peak hours.
The strategy:
- • Store excess during day
- • Export 5-9pm when rates peak
- • Or use stored power yourself (saves 40c+)
Recommended plans:
- • Octopus Peaker (23c peak, 40c winter)
- • Electric Kiwi MoveMaster (23c peak)
- • Ecotricity Resi-Flex (60c, Canterbury only)
How to Use More Solar (And Worry Less About Export Rates)
Before you switch power companies, consider whether you could simply use more of what you generate. Hot water alone accounts for 27% of the average NZ home's electricity — that's low-hanging fruit.
Solar hot water diverter: The $1,000 upgrade that pays for itself
A solar diverter sends excess generation to your hot water cylinder instead of exporting it. At ~$1,000 installed, it can capture 5-7 kWh/day that would otherwise earn you 60-85c (at 12c/kWh). Using it directly saves you $1.70-2.40/day at retail rates.
Popular options: Myenergi Eddi, SunStash, Paladin — all available from NZ suppliers with local support.
Free hack: Time your appliances to peak solar
Run your dishwasher, washing machine, and dryer during peak solar hours (10am-2pm in New Zealand, year-round). Most modern appliances have delay-start timers — smart plugs ($30-50) can automate older appliances too. Stagger them rather than running all at once to avoid exceeding your solar output. This simple habit can shift 2-4 kWh/day from export to self-consumption.
EV + solar in NZ: The perfect match
If you have an EV, charge it during the day when solar is generating. A typical EV uses 15-20 kWh per 100km — if you drive 40km/day, that's 6-8 kWh your panels could cover entirely. That's significant self-consumption potential that would otherwise be exported at 12-17c.
The best kWh is the one you never export. Every optimisation that increases self-consumption beats rate-chasing by 2:1.
The Battery Game-Changer
Without a battery, you export power during low-value daytime hours. With a battery, you can store and export during peak evening hours — potentially earning 40c/kWh instead of 12c.
Without battery:
Generate at noon → Export at 12c → Miss evening peak pricing
With battery:
Generate at noon → Store in battery → Export at 5pm for 23-40c
OR use stored power yourself → Save 40c+ vs buying from grid
How battery owners earn 40c/kWh (instead of 12c)
Your panels generate power at noon. Instead of exporting at 10c (off-peak), your battery stores it. At 5pm when you'd normally pay 40c+ for grid power, you either use your stored power (saving 40c) or export it (earning 23-40c). Either way, you win versus exporting at midday. This is why battery owners in NZ are increasingly choosing time-of-use plans.
About Ecotricity's 60c rate: It sounds incredible, but it's only available in Canterbury on the Orion network, requires a compatible battery, and Ecotricity controls when your battery charges/discharges. It's a trial programme with limited spots, ending September 2026.
Retailer Profiles
Quick overviews of each retailer's solar offering. Click to expand.
What's Changing in July 2026
The Electricity Authority is requiring major retailers to offer fairer buy back rates from 1 July 2026. This is good news for solar owners — but you don't need to wait.
July 2026: New rules for solar export rates
From July 2026, all large electricity retailers (more than 5% market share) must offer at least one plan with time-varying buy back rates. This means:
- ✓Genesis, Mercury, Meridian, Contact will all have to offer TOU export rates
- ✓Higher rates during peak demand (typically 5-9pm on winter evenings)
- ✓Fairer reward for exporting when the grid actually needs it
Switch power companies now or wait for July 2026?
- →Switch now if: You're on a low flat rate (<10c) and have a battery
- →Wait if: You're locked into a contract that ends mid-2026 anyway
- →Either way: The direction is towards fairer, time-varying rates
For most NZ solar owners without a battery, waiting until July 2026 won't hurt — but switching to a better plan now won't hurt either.
How to Switch Power Companies with Solar
Switching power companies is free and takes about 3-5 business days. Your new retailer handles everything — you just need to know your current usage and export data.
Check your current export data
Find this in your inverter app (Fronius, Enphase, SolarEdge, etc.) — most apps show generation, consumption, and export in real-time. Your power bill also shows monthly export totals.
Compare plans on Powerswitch
Use Powerswitch.org.nz with your actual address and usage. It shows both import AND export rates for your area.
Check for contract lock-ins
If you're on a fixed-term contract (like Meridian's 3-year Solar Plan), check for break fees before switching.
Sign up with your new retailer
Apply online. Your new retailer contacts your old one — you don't need to cancel anything.
Confirm your meter is registered for export
Most solar installations already have an import/export meter. If not, your new retailer will arrange the upgrade (usually free, 1-2 weeks).
Good to know: Switching typically takes 3-5 business days. There's no interruption to your power or solar generation during the changeover.
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Sources & Verification
Government & Regulatory
Rate Comparison
- Powerswitch — Solar Buy-Back Rates Comparison
- Rates verified directly with each retailer(January 2026)
Retailer Information
Last verified: January 2026. Buy-back rates change frequently — always confirm directly with retailers before switching.