What is a solar property insurance?

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

Solar project owners and developers need property insurance to protect their investments, minimize downtime, ensure continuity and provide critical financial assistance in the event of a loss to their property. KWh Analytics has started offering a Solar property insurance against physical damages to solar arrays and other renewable energy assets, in partnership with Aspen Insurance.

kWh Analytics, an insurance provider for zero carbon assets,  announced the launch of a solar property insurance product in partnership with Aspen Insurance. The offering covers physical damage to solar and other renewable energy assets.The product is expected to be primarily used for utility-scale solar assets. The company has a database of over 300,000 operational renewable energy assets informing its property risk assessment capabilities. kWh Analytics has insured over $4 billion in assets to date.

Solar Property Insurance

“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. Its new insurance product is designed to mitigate risks in a changing market and climate, enabling financing for new projects.

In addition to its underwriting services, kWh Analytics leverages its data to develop resilient design practices. Through the evaluation of operational data, the company identifies the most relevant failures in PV asset operations. The findings are incorporated with the new solar property insurance underwriting and will be distributed to the company’s clients and broadly to manufacturers, operators, carrier partners, and investors to reinforce the further development of sustainable solar projects.

Also read How to use Solar Energy To Generate Economy In Your Home Or Company

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Universal Kraft’s main specialty is the development and construction of photovoltaic solar energy systems to provide clean energy, and affordable solutions at a global scale. Our 20 years experience allows us to assess opportunities and make decisions quickly, providing cost effective solutions for all our clients. Discover our optimized solar energy solutions here.

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