Bergler guides · Investors & full feed-in · May 2026
Investors & full feed-in 2026 — HEIV, GMP and direct marketing
This page addresses pure full-feed-in projects without self-consumption — solar parks, large roofs with promotion, investor-driven PV. You'll find the four relevant promotion tracks, decision logic for picking one, the mechanics of the sliding market premium incl. a worked example, a commercial feed-in calculator comparing three scenarios (HEIV / GMP / spot), and the key thresholds. For self-consumption-driven projects, switch to the commercial guide. Legal references remain German originals.
Four compensation and promotion tracks — overview
The following instruments combine or exclude each other depending on project setup. Detailed conditions in the modules below.
| Instrument | What | Paid when | Requirement |
|---|---|---|---|
| Reference market price | Compensation per kWh via grid operator | ongoing, hourly from 1.7.2026 | System ≤3 MW or ≤5,000 MWh/year |
| Single payment GREIV | Investment subsidy up to 30 % | one-time at construction | System ≥100 kWp, with or without self-consumption |
| High single payment HEIV | Investment subsidy up to 60 % | one-time at construction | System ≥2 kWp without self-consumption, 15-year full feed-in obligation, auction from 150 kWp |
| Sliding market premium GMP | Top-up on market price | ongoing over 20 years | System ≥150 kWp without self-consumption, auction won, direct marketing mandatory |
Strategic decision — with or without self-consumption?
This choice must be made at construction and decides the promotion track. No mixed model is possible.
Key question
Do you want to consume any electricity yourself in the next 15 operating years, or sell locally via ZEV / vZEV / LEG?
- Construction subsidy: investment grant up to 30 % (KLEIV below 100 kWp, GREIV from 100 kWp).
- Ongoing compensation for fed-in electricity: reference market price, hourly spot price from 1.7.2026.
- Full flexibility: self-consumption, ZEV, vZEV, LEG all possible.
- Combinable with bonuses (tilt angle, winter electricity, parking areas) if conditions met.
- Higher subsidy (HEIV up to 60 %, GMP plannable over 20 years).
- Strict condition: for 15 years all produced electricity must be fed into the grid.
- Combinations excluded: no self-consumption, no ZEV, no vZEV, no LEG participation.
- After the 15-year period the system can be repurposed for self-consumption or local marketing.
No mixed model is possible — the decision must be made at construction.
Understanding the auctions — HEIV vs. GMP auction
Both auctions award funds to full feed-in systems but differ fundamentally in payout, risk and marketing.
| Aspect | HEIV auction | GMP auction |
|---|---|---|
| What is awarded | High single payment | Sliding market premium |
| Payout | one-time at construction | ongoing over 20 years |
| Form of support | Investment grant up to 60 % of reference-system costs | Compensation rate in Rp./kWh, Pronovo tops up to market price |
| Bid given in | CHF per kW installed capacity | Rappen per kWh, guaranteed for 20 years |
| Requirement | PV without self-consumption | PV without self-consumption, ≥150 kW |
| Marketing | as VNB standard | direct marketing mandatory |
| Liquidity at construction | high | none |
| Market risk for operator | high (market price unfiltered) | low (price capped both ways) |
Auction mechanics (simplified)
- Pronovo runs several auction rounds per year.
- Bidders submit a bid; BFE sets a price ceiling per round.
- Lowest bids win, until the auction volume is exhausted.
- Losing bidders can participate in a later round.
Choice: You can take part in either a HEIV auction or a GMP auction, not both at the same time.
Mechanics of the sliding market premium GMP
The GMP is a difference top-up, not an additional bonus on the market price. The operator ends up at the auctioned compensation rate — no more, no less.
Formula per Art. 30aquinquies EnFV
GMP payout = compensation rate (auction) − reference market price − avg. HKN price
Important: The GMP closes the gap, it does not add unbounded on top of the market price.
Worked example — GMP payout
| Component | Value |
|---|---|
| Compensation rate from auction | 9.0 Rp./kWh |
| Quarterly reference market price (BFE) | 5.5 Rp./kWh |
| Average HKN price | 1.5 Rp./kWh |
| → GMP payout from Pronovo | 2.0 Rp./kWh |
Producer's total revenue
| Revenue from | Value |
|---|---|
| Power sales on market (direct marketing) | 5.5 Rp./kWh |
| HKN sales | 1.5 Rp./kWh |
| GMP top-up from Pronovo | 2.0 Rp./kWh |
| Total | 9.0 Rp./kWh = auction rate |
Cap on the upside
At very high market prices: Art. 30anovies EnFV regulates the «excess portion». If the market price is well above the auction rate, part is clawed back. The producer is therefore capped at the top as well.
Conclusion
Consequence: GMP provides 20 years of price security at the level of the auction bid — paid out quarterly by Pronovo. It is a risk equalisation, not an extra subsidy on top.
Direct marketing and the hourly spot price from 1.7.2026
Direct marketing means the operator sells the produced electricity not via the local grid operator but directly on the power market (day-ahead, intraday) — usually via an aggregator or direct-marketing partner. Requirement: market-participant status, balance-group assignment (handled by the aggregator).
With the planned switch on 1.7.2026 the VNB-take-off compensation moves from a quarterly average to the hourly spot market price. This brings VNB-take-off compensation close to what direct marketers already experience today: actual hourly day-ahead prices with all their volatility.
Direct marketing is mandatory
- When a GMP auction is won (compulsory).
- For systems above 3 MW capacity and above 5,000 MWh annual production (no grid-operator take-off obligation anymore).
Direct marketing is voluntary
For systems between 100 kW and 3 MW without GMP commitment: switching between grid-operator take-off and direct marketing is possible per 1 January each year, with advance notice to the grid operator. No free switch-back during the year — the choice binds for at least the current year.
What changes concretely on 1.7.2026?
- Hours with negative spot prices are passed through directly.
- Self-consumption optimisation and battery storage gain additional economic relevance.
- Active marketing via aggregator (intraday, balancing energy) becomes a strategic option.
Important note
As soon as an operator switches to direct marketing they forgo the minimum compensation (if below 150 kW) and the protection of the grid-operator take-off obligation. Return is possible depending on the setup, but not always at will.
Commercial feed-in calculator — compare three promotion tracks
Adjust system size, specific yield and auction bid to see what HEIV (investment grant), GMP (market premium over 20 years) and pure spot-market sale yield. The calculator is a simplified comparison — bonus components, inflation and direct-marketing fees are not included.
Commercial feed-in calculator — three promotion tracks compared
Pronovo pays the difference between the auctioned compensation rate and the market price (minus HKN) for 20 years. Direct marketing mandatory. Requirement: 15-year full-feed-in obligation.
- Power sale on market522'500
- HKN sale142'500
- GMP top-up (Pronovo)190'000
Assumptions and notes
- Simplified comparison calculator — no bonus components (tilt angle, winter electricity, parking areas), no inflation, no discounting.
- Auction price ceilings are set per round by BFE. Current values: HEIV up to ca. 460 CHF/kW (varies by system type), GMP ceiling per round published.
- For the spot scenario we use the current quarterly reference market price as proxy — actual revenue over 20 years depends on price trajectory and own-yield profile.
- Direct-marketing fees (aggregator margin, balance-group fees) are not included — typically 0.2 – 0.5 Rp./kWh.
- HEIV track: 15-year full-feed-in obligation — self-consumption / ZEV / vZEV / LEG excluded during this period.
- GMP track: additionally direct-marketing obligation via aggregator. Compensation rate capped upwards by Art. 30anovies EnFV.
Thresholds at a glance
These size classes decide on minimum compensation, auction obligation and grid-operator take-off obligation.
| Threshold | What happens |
|---|---|
| ≤ 30 kW | Minimum compensation 6.0 Rp./kWh (with or without EV) |
| 30–150 kW with EV | Degressive minimum compensation 180 ÷ kWp |
| 30–150 kW without EV | Minimum compensation 6.2 Rp./kWh |
| 150 kW | Cap for minimum compensation. Above: no statutory protection downwards. |
| 150 kW | Lower limit for HEIV auction and GMP auction (only without self-consumption). |
| 3 MW capacity or 5,000 MWh/year | Upper limit of grid-operator take-off obligation (Art. 15 EnG). Above: producer must self-market. |
Correction to a common confusion: There is no general direct-marketing obligation at 500 kW for new systems. That threshold stems from the old KEV scheme and only still applies to legacy KEV systems with an existing compensation contract — it is not relevant for systems entering operation from 2026.
ZEV, vZEV, LEG: incompatibility with HEIV and GMP
Whoever obtains HEIV or GMP via auction commits for 15 years to «100 % feed-in to the grid». That excludes all forms of self-consumption.
| Setup | Compatible with HEIV/GMP? | Reason |
|---|---|---|
| Direct self-consumption | No | Violates «without self-consumption» definition |
| ZEV | No | Legally counts as self-consumption |
| vZEV | No | Legally counts as self-consumption |
| LEG | Legally open | Legally open, practically no. HEIV requires 15 years of «100 % feed-in to the grid». Sales to LEG participants are treated as HEIV violation in practice. |
| Sale to local utility (VNB take-off) | Yes | Classic use case |
| Sale via direct marketer | Yes | Mandatory for GMP. Fulfils full-feed-in obligation. |
Practical consequence
If you plan a larger system and want to keep local marketing (LEG, vZEV) as an option, choose the GREIV track with up to 30 % investment promotion. For a pure investment system without local use, HEIV or GMP via auction are on the table.
Delayed feed-in and guaranteed flexibility (StromVV Art. 19c)
What you may steer as operator on feed-in — and where the grid operator may regulate.
Permitted without special approval
- Storage in battery and time-shifted feed-in.
- Self-consumption optimisation via EMS, heat pump, e-mobility.
- Contractual options such as «Top-40 products» (higher compensation against the option to curtail up to 40 % of annual energy).
Guaranteed grid-operator flexibility (Art. 19c StromVV)
- 70 % feed-in limit at the connection point — mandatory for new systems from 1.1.2026 (inverter setting); for existing systems, grid-operator curtailment remains discretionary.
- Yield loss from the 70 % limit is typically below 3 % of annual energy (for standard south-facing systems).
- Guaranteed use of flexibility is not compensated.
- Grid operator may curtail at most 3 % of annual generated energy at the connection point.
- Retrofitting costs for curtailment may not be charged to the producer (ElCom newsletter 12/2025).
FAQ — commercial & investors
What is the difference between KLEIV, GREIV and HEIV?
KLEIV is the single payment for systems below 100 kWp, GREIV for systems from 100 kWp — both with or without self-consumption, max. 30 % of investment costs. HEIV is the High Single Payment for systems without self-consumption, max. 60 %, from 150 kWp only via auction.
Source: Art. 25–30 EnFV, Pronovo
How does the sliding market premium GMP work?
GMP pays the difference between the auctioned compensation rate and the reference market price (minus the HKN price). The operator receives the auctioned rate overall, capped at the top via the «excess portion» rule.
Source: Art. 30aquinquies and 30anovies EnFV
Can I combine HEIV or GMP with a ZEV / vZEV / LEG?
No. The «without self-consumption» condition excludes all forms of self-consumption, ZEV and vZEV explicitly. LEG is legally open but treated as HEIV violation in practice. Only after the 15-year full-feed-in period a repurposing is possible.
Source: Art. 28 ff. EnFV, Pronovo practice
What is direct marketing and when do I need it?
Direct marketing means the producer sells the electricity directly on the market (via aggregator), not via the local grid operator. Mandatory when a GMP auction is won and for systems above 3 MW or 5,000 MWh/year. Voluntary for systems from 100 kW (option exercisable per 1 January).
Source: Art. 14 EnG, Pronovo
What changes on 1 July 2026 for large systems?
Compensation via grid-operator take-off shifts from the quarterly average to the hourly day-ahead spot price. Systems above 150 kWp without minimum-compensation protection experience low and negative spot prices directly.
Source: UVEK consultation of 16 September 2025, entry into force subject to consultation results
Which bonuses exist for large systems?
Winter-electricity bonus for systems from 100 kW with over 500 kWh winter-electricity surplus per kW (since 1.1.2026, replacing the altitude bonus), tilt-angle bonus from 75°, parking-area bonus from 100 kW. The bonuses are cumulatively capped per system — the total is limited under Art. 30c EnFV.
Source: Art. 30c EnFV, Pronovo
What is the legal situation regarding negative spot prices for large systems?
Systems above 150 kWp without GMP have no statutory protection. A legal interpretation derives a 0 Rp./kWh floor from the term «compensation», but this has not been conclusively settled. For individual spot-price agreements we recommend fixing a 0 Rp./kWh floor contractually.
Source: Art. 15 EnG, Bergler Energie advisory practice
What about the intraday market and balancing energy?
These revenue streams are relevant only for direct marketers and are accessed via aggregators. For statutory compensation under Art. 15 EnG only the day-ahead spot price counts. For systems with battery storage from ca. 200 kWh, the combined marketing of energy and flexibility can be economically attractive.
Source: Bergler Energie, advisory practice
For homeowners (single/two-family)
Residential guide
Compensation calculator, minimum-compensation schema, storage simulator and the four local marketing models.
For landlords, administrators, condos
Apartment buildings & ZEV
Pass electricity to tenants: ZEV, vZEV, LEG, Praxismodell — plus tenant wallboxes and heating replacement.
For SMEs, workshops, halls (with self-consumption)
Commercial & industrial
Cut electricity costs through self-consumption, peak-shaving storage, employee wallboxes and e-fleets — including electric trucks.
Live electricity prices and market mechanics
Swiss electricity market 2026
Hourly day-ahead prices with drill-down — plus explainer on negative spot prices and legal classification.
Authoritative sources
Only official state sources. The decisive texts are the laws and ordinances currently in force on fedlex.admin.ch. Bergler Energie AG accepts no liability for completeness or currency.
Legal basis
- Federal Energy Act (EnG, SR 730.0), Art. 14 and 15
- Energy Promotion Ordinance (EnFV, SR 730.03), Art. 15 (reference market price), Art. 25–30 (single payments), Art. 30aquinquies (GMP), Art. 30anovies (excess portion), Art. 30c (bonuses)
- Electricity Supply Ordinance (StromVV, SR 734.71), Art. 19c (guaranteed use of flexibility)
- ElCom newsletter 12/2025 (retrofitting costs for curtailment, Praxismodell)
- UVEK consultation 16.9.2025 on revision of energy ordinances (consultation closed 22.12.2025), planned entry into force 1.7.2026 (hourly spot price), transition rule until 31.12.2027
Data and information sources
- Swiss Federal Office of Energy (BFE) — reference market prices, auction results
- BFE Open Data (opendata.swiss)
- Pronovo AG — federal executing body
- ElCom — Federal Electricity Commission
- ENTSO-E Transparency Platform (day-ahead prices)
- Industry association — Swiss Electricity Industry Association (VSE)
- Industry association — Swissolar
Information as of: May 2026. This information does not replace individual technical or legal advice.
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