Best Power Company for Solar Buy Back NZ: Top Rates 2025

If you’ve installed solar panels in New Zealand, you’ve probably wondered whether selling excess power back is actually worth it—and which company will pay you the most for it. The honest answer depends on rates, contract terms, and whether you’re willing to lock in a fixed plan. Here’s a clear breakdown of the best solar buy-back rates available in 2025, backed by official comparison data.

Meridian Energy Solar Plan: 17c/kWh excl. GST · Octopus Energy: 17c/kWh · Ecotricity Peak: 21c/kWh · Powershop: 13c/kWh · Top Rate Peak: 23c/kWh

Here’s how the major retailers stack up on buy-back rates and conditions in 2025.

“Looking at numbers alone, Meridian Energy (Solar Plan) and Octopus Energy both offer the best solar buy back rate at 17c/kWh (excl. GST).”

— Solar Republic, Solar Republic rate comparison

Who has the best buyback for solar?

When it comes to flat rates, Meridian Energy and Octopus Energy tie at 17c/kWh for standard buy-back. According to Solar Republic’s July 2025 comparison, both retailers sit at the top of the heap for solar exports without time-of-use complexity. Meridian requires a 5-year fixed contract plus a $300 sign-up credit, while Octopus offers no-contract flexibility with a 10kW system cap.

Meridian Energy Solar Plan

Meridian’s Solar Plan offers the highest flat rate among major retailers: 17c/kWh (excl. GST) on a five-year fixed term. Systems are capped at 10kW, and new customers receive a $300 credit. The trade-off is commitment—locking in for five years means your rate stays stable, but you’re tied if better deals emerge. For homeowners planning a long-term solar setup, this is the strongest straightforward option on the market.

Octopus Energy

Octopus Energy matches Meridian at 17c/kWh but without contract obligations on its Flexi plan. Systems up to 10kW qualify, making it ideal for renters or those unwilling to sign long-term deals. Octopus also runs the Peaker Battery Plan, which rewards battery owners with 23c/kWh during peak periods—significantly higher than any flat rate. Night and off-peak rates drop to 5c and 10c respectively, so battery storage is essential for maximizing returns on that plan.

Ecotricity peak rates

Ecotricity targets the renewable-minded seller. Standard rates sit around 12-16c/kWh, but peak-time exports can reach 21c/kWh—competitive with Octopus Peaker for those without batteries. The catch is that peak rates only apply during specific windows, and off-peak drops to 16c/kWh. If your household generates solar during midday hours, you may capture those peak rates without a battery. Ecotricity also markets itself as 100% renewable, which appeals to environmentally driven buyers.

“However, it’s important to remember that using your solar energy yourself is much more valuable than exporting it. On average, electricity from the grid costs around 30 cents per kWh.”

— Apollo Energy, Apollo Energy solar savings guide

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

Yes—New Zealand allows homeowners with grid-connected solar systems to sell excess electricity back to retailers. The scheme operates under rules set by the Electricity Authority, and participation requires an approved import/export meter. Not all retailers offer buy-back, and those that do apply different rates, caps, and contract terms. Entry barriers are low: most retailers with buy-back programs simply require a qualifying system size and compatible metering.

Electricity Authority rules

The Electricity Authority defines buy-back rates as excluding GST and measured in kilowatt-hours. Retailers set their own rates within this framework, and some use time-of-use pricing models that vary by hour. System size limits also apply—most capped at 10kW for residential, though Frank Energy permits up to 50kW. Grid connection approval is required before export payments begin, and the process typically involves your retailer and a certified installer coordinating with your lines company.

Buyback programs overview

Over a dozen NZ retailers now offer solar buy-back, ranging from 8c to 23c/kWh depending on the plan. Powershop, Mercury, Flick, and Nova all participate, alongside larger names like Genesis and Contact Energy. Some newer entrants—Nau Mai Ra, Globug, Tensor—do not offer buy-back, so checking your retailer’s policy matters before installation. Powerswitch NZ hosts a centralized rate table that clarifies which retailers participate and their current pricing.

Is selling back to the grid worth it?

The math depends heavily on how much solar you generate, when you generate it, and what rate you secure. For most homeowners, self-use remains more valuable than export—grid electricity costs around 30c/kWh, while buy-back typically tops out at 23c/kWh even at peak. Selling excess back covers some costs, but maximizing self-consumption (using solar when panels are active) yields better financial returns than optimizing for export rates alone.

Payback period factors

Several variables determine whether solar plus buy-back pays off: installation cost, system size, orientation, shading, household consumption patterns, and the rate you lock in. A system with high daytime generation and high export rates may break even faster, but for most households, the payback period stretches beyond 7-10 years when relying on buy-back alone. Adding battery storage shifts the economics by letting you store solar for peak-demand hours rather than selling it cheap to the grid.

Pros and cons

The implication: buy-back supplements solar returns but should not be the primary driver of installation decisions. Prioritize self-consumption optimization first.

Which electricity company pays the most for solar?

Octopus Peaker currently leads at 23c/kWh during peak hours, but only for battery-equipped systems on time-of-use plans. For flat-rate seekers without batteries, Meridian and Octopus Flexi both sit at 17c/kWh—tied for the highest fixed-rate buy-back among major retailers. Ecotricity reaches 21c/kWh at peak but drops to 16c/kWh off-peak, making it competitive only for homes that generate during specific windows.

Rate table breakdown

Fixed buy-back rates across major retailers range from 8c to 17c/kWh for standard plans. Powershop offers 13c/kWh with no cap or exit fees—a middle-ground option without contract lock-in. Genesis and Electric Kiwi sit at 12-12.5c/kWh, competitive but below the top tier. Contact Energy pays just 8c/kWh with a 10kW cap, placing it among the lowest payers for solar exports.

Peak vs off-peak

Time-of-use plans reward solar owners who export during peak demand windows. Octopus Peaker charges 23c/kWh peak, 10c/kWh off-peak, and 5c/kWh overnight—the highest ceiling but also the lowest floor. Flat-rate plans sacrifice peak upside in exchange for predictability. For most residential solar setups, midday generation aligns roughly with “peak” windows, so flat-rate 17c from Meridian or Octopus Flexi may outperform variable plans without batteries.

How much do you get for selling power back to the grid?

In 2025, NZ buy-back rates span 8.5c to 23c/kWh depending on retailer and plan type. At the low end, Contact Energy pays 8c/kWh; at the high end, Octopus Peaker reaches 23c/kWh peak. Most flat-rate top performers sit around 17c/kWh (Meridian, Octopus Flexi). Rates exclude GST, and Powerswitch confirms all buy-back payments are measured in kilowatt-hours exported to the grid.

Rate comparisons

Fixed rates cluster between 12c and 17c/kWh for most major retailers. Variable rates swing between 8c and 22c depending on time-of-use windows—Flick Electric’s indicative rate sits around 13.2c/kWh, changing with wholesale prices. Toast Electric offers 10c/kWh but only in select Wellington-area regions. Powershop rounds out the mid-tier at 13c/kWh with no contract lock-in or leaving fees.

Company-specific payouts

Mercury Energy offers 8.5c-11.1c/kWh on standard plans, though partner deals (like Harrisons Solar) can reach 18c/kWh excl. GST. Megatel pays 13c/kWh (GST exclusive), and Nova Energy sits at 10c/kWh. Frank Energy caps at 11c/kWh for systems up to 50kW, and notably excludes GST-registered customers from its program. These variations mean a few minutes of comparison shopping can mean hundreds of dollars annually for high-export households.

Related reading: Hot Water Heat Pumps Prices NZ · Free Healthy Homes Assessment

Frequently asked questions

For New Zealand homeowners with solar panels, the choice between retailers comes down to whether you want contract certainty or flexibility. Meridian Energy delivers the highest flat rate at 17c/kWh on a five-year plan, but Octopus Energy matches that rate without locking you in. Battery owners should weigh Octopus Peaker’s 23c/kWh peak against the complexity of time-of-use pricing—self-use remains more valuable than export at any rate, so optimizing when you consume your solar matters as much as which company you sell to.

Homeowners can compare top plans and see how current buy-back rates stack up against hot water heat pump prices in NZ to determine whether solar investment makes sense for their household.