Iberdrola has moved in advance of the legislation - Royal Decree 244/2019, which is in the process of being implemented - and taken a pioneering role in compensating its customers for the surplus energy they produce, based on actual energy readings. The first 200 customers to have completed the process of registering their installations will be given a discount on their December electricity bills corresponding to the power generated by their solar installations that they have not consumed themselves and have fed into the grid.
Surplus compensation application process
To obtain a compensation payment in their electricity bills it is necessary for customers to complete a process which starts with submitting an application for registration of self-consumption with compensation to the relevant autonomous regional government's Department of Industry. Once this is approved, the regional administration informs the distributor company of the customer's particulars and those of the installation so that it can carry out its own registration process. The distributor then notifies the marketer, which draws up a contract with the user providing for compensation in the monthly electricity bill for unconsumed surpluses fed into the grid.
To facilitate this process, and pending completion of the procedures for obtaining the compensation in the electricity bill, Iberdrola has launched its "Plan Solar", which allows customers with photovoltaic installations to benefit from a reduced price during the hours of darkness so they can thus start obtaining compensation for their surpluses from the moment they sign up. The company has established this reduction as a 10 euros per month flat fee as a provisional estimate of the value of the surpluses.
Smart Solar, the turnkey solution for generating your own energy
Iberdrola launched "Smart Solar" some years ago, it is a turnkey solution for the generation and consumption of photovoltaic energy which includes a personalised study and design, administrative processing, installation, financing, advice on insurance, maintenance and monitoring by means of online tools. For customers signing up to this plan, Iberdrola will take charge of handling the administrative procedures when applying for compensation for surpluses.
The savings generated with these installations can reach as much as 70% of the annual electricity bill if the home is equipped with solar storage batteries, or 40% if it is not. In either case, this is without taking into account the municipal and/or regional subsidies available (reduction in IBI (land value tax), through IRPF (personal income tax) or special subsidies from specific budget allocations). In the case of solar panel installations for businesses, estimated savings can represent between 30% and 35% of the pre-solar electricity bill.
As with all Iberdrola's smart solutions, customers will be able to check on the energy they produce and consume in real time through the Iberdrola website or the Iberdrola app and operate their installation autonomously.
