Solar property insurance protects utility scale and large commercial, industrial solar photovoltaic systems against physical loss, or loss of business income. 

Property insurance is essential for owners and developers of solar projects in order to safeguard their capital, reduce downtime, maintain continuity, and offer vital financial support in the event that their property is damaged. In collaboration with Aspen Insurance, KWh Analytics has begun to provide solar property insurance to protect solar arrays and other renewable energy assets from physical harm.

kWh Analytics, an insurance provider for zero carbon assets,  announced the launch of a solar property insurance product in partnership with Aspen Insurance. Physical damage to solar and other renewable energy assets is covered by the service.The main application for the product is anticipated to be utility-scale solar assets. The company’s property risk assessment capabilities are informed by a database including over 300,000 operational renewable energy assets. To date, kWh Analytics has insured assets valued at over $4 billion.

“The shift to a decarbonized economy is the largest macroeconomic revolution of our generation, and insurance will play a critical role in securing its future,” said Jason Kaminsky, chief executive officer of kWh Analytics. Asset owners have faced substantial cost increases in recent years, presenting a need for new solutions to manage and underwrite risk. In order to facilitate the funding of new projects, its new insurance product is made to reduce risks in a changing market and environment.

Apart from providing underwriting services, kWh Analytics utilizes its data to create resilient design methodologies. The business determines the most pertinent PV asset operating problems by analyzing operational data. To support the further development of sustainable solar projects, the findings are integrated into the new solar property insurance underwriting and will be made available to the company’s clientele as well as to manufacturers, operators, carrier partners, and investors in general.

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