Solar Performance Warranty Insurance

The minimum term of coverage is 15 years from the date the park starts commercial operations.

Solar performance warranty insurance.

You will find that this warranty is fairly standard across most manufacturers. The solar park performance cover is offered for new and recently developed parks and can be placed as early as the financing phase facilitating preferential financing conditions and potentially ensuring a favourable reception on the secondary market. The performance warranty is to warrant the degradation of the cells over 25 years. Munich re s pv warranty insurance meets the financing requirements of most projects.

A performance warranty or guarantee is issued by the solar panel s manufacturer and covers the product s effectiveness. A solar panel s product warranty insurance covers the integrity of the panel itself and protects you against problems such as manufacturing defects. Pv module warranty claim. As a provider of power purchase agreements performance guarantee insurance can result in millions of dollars in savings in finance cost and increase access to many.

The solar panel warranty insurance caters to solar park developers with the park owner as the insured and sole beneficiary. The warranty risk of solar insolvency of the manufacturer and. This insurance enables you to take control of the warranty risk of solar and the letter acts as your seal of approval. Icici lombard s solar panel warranty insurance provides cover against performance degradation of solar modules and manufacturing defects that are under performance warranty.

A solar panel s performance warranty will typically guarantee 90 production at 10 years and 80 at 25 years. The policy safeguards the insured against performance degradation of pv modules under performance warranty due to the hazards related to faulty manufacturing material defects and material ageing. The warranty partner has bought insurance capacity for at least 100 mwp per year which is. Solarinsure has developed a strategic relationship with a leading worldwide insurance company to underwrite this business through its energy products performance guarantee program.

The manufacturer may state that the performance will only reduce by say 10 after the first 10 years and then another 10 over the next 15 years. This type of warranty takes into consideration a decrease in an average solar panel s production value of between 0 25 and 0 5 percent each year. 1 solar panel performance warranty. The future is now.

An equipment warranty will typically guarantee 10 12 years without failing.