Before determining whether or not you need to insure your solar photovoltaic (PV) installation, it’s important to understand what you’d be insuring against.
Most high quality solar panels carry 25-year warranties that protect you from malfunctions and breakages.
With no moving parts, solar panels are incredibly resilient. Occasional cleaning and minimal upkeep can keep a well-installed PV system going strong for decades. In fact, many solar installations continue generating clean electricity for 40 years or longer (well beyond the manufacturer’s warranty).
As a result, the vast majority of solar PV installations do not require any additional insurance. Breakages are rare. And if they happen, you are usually fully covered.
What if you’re risk-averse and want extra protection? After all, falling debris isn’t always covered under the manufacturer’s warranty. And what about unforeseen accidents like natural disasters?
In many cases in western countries such as the US, homeowners insurance policies automatically cover solar installations. In these cases, you don’t need to buy additional insurance. But this is unlikely to the case in countries such as India – but it is best for you to check with your home insurance company, all the same!
If your current insurance company doesn’t cover solar installations, then you can consider talking to specialised solar insurance providers.
Do remember that in countries such as India, solar power plant and solar panel insurance are indeed evolving sectors, but you already have a good number of packages.
Packages offer protection typical risks such as fire, storm and theft .
Insurance packages are also available for over all solar power plant, that cover risks from breakdown, minimum yield and construction risks.
Specifics of the packages vary from one insurance company to another, so please check with the insurance company on all the risks that the insurance package covers.
You can get to know more from here on Solar Power Plant Insurance.
You Might Want to Check Out these Questions Too on Risks & Warranties
- How Much Do I Stand to Lose If I Choose a Poor Quality Solar Panel?-Here
- Have there been Real Life Failures of Solar Panels within a Few Years after Installation?-Here
- Can Solar Panels Withstand Hailstorms?-Here
- Can Solar Panels Withstand Snow and Rain?-Here
- Can Solar Panels be Damaged by Floods?-Here
- What Happens if the Solar Panel Manufacturer Goes Out of Business?-Here
- What Warranties Should I Look for While Purchasing Solar Panels?-Here
- What Happens if there are Bird Droppings on Solar Panels?-Here
- What Happens if Heavy Objects Fall on Solar Panels?-Here
- What Happens if Someone Accidentally Walks on Solar Panels?-Here
- What is PID (performance induced degradation) of a Solar Panel?-Here
- How Can I Protect Solar Panels Against Monkeys and Other Animals?-Here
- What All Can Go Wrong with Solar Panels?-Here
- What is the Shading of Solar Panels all About? What are Its Implications?-Here
- What are Light Induced Defects in Solar Cells?-Here
- What is a Solar Module Derate Factor?-Here
- If a Cell in a Solar Panel Doesn’t Work, Does It Affect Generation from Other Cells?-Here
EVALUATION PARAMETERS
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