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Homeowners with solar panels could be guaranteed hundreds of pounds a year by selling excess electricity.
Payments will be made to encourage households and businesses to generate their own energy for the network under this program.
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Wind and solar power will provide additional income through the smart meter.
Suppliers will make an offer for electricity, which will allow homeowners to get the best price for their energy under the new laws introduced on Monday.
The smart export guarantee comes ahead of the announced announcement by the government next week of a net zero emission target by 2050.
Minister of Energy and Clean Growth, Chris Skidmore, said: "The future of energy is local and the new smart export guarantee will ensure households who choose to become green energy producers to receive a payment for the electricity supplied to the network.
"We want the energy market to innovate and it is encouraging to see that some suppliers are already offering competitive export rates to reduce bills.
"We want more people to do the same, encouraging small-scale production without raising consumer bills as we move toward a non-subsidized energy system and a zero-emissions economy."
CHANGE OF PLAY
Greg Jackson, chief executive of Octopus Energy's supplier, Greg Jackson, said, "These smart export rates are changing the game to harness the power of citizens to fight climate change.
"This means that houses and businesses can be remunerated to produce clean electricity, like traditional generators, by replacing old dirty power plants and injecting more renewable energy into the grid.
"It will help lower prices for everyone because we use cheaper energy generated locally by our neighbors."
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Residential solar panels are now more than 50% cheaper than in 2011.
As part of a previous government program, 850,000 small scale renewable energy project installations had been installed.
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