Obtaining complete protection from Solarif for PV solar system
Solarif Insurance is an independent entity offering solutions that protect PV solar systems. The core operations include risk assessment, matchmaking, and financing. Risk assessment helps the manufacturers of inverters and panels to obtain the needed certification in the area of quality. Matchmaker builds the bridge between the sellers and buyers of PV projects. The financial business activity covers financial structuring necessary for a PV project and arranges the needed funds.
As an independent insurance broker, Solarif delivers extensive and dedicated services to the solar energy system. It advises EPC contractors, developers, and investors with appropriate insurances that protect the PV projects. For manufacturers, the company recommends about product liability and warranty insurances. In case of a claim, Solarif takes care of the administrative process.
Guarantee insurance for PV owners
Solarif offers three different coverage policies for PV owners. Together, they provide the required protection to individuals who own a solar energy plant. The products are:
1. Inherent Defect: Solar energy system is clean, safe, and financially attractive. However, it is difficult to state the quality of the manufactured components including the panel. As each of the panels is different, the inherent coverage protects the owner for panels and inverters in the best possible means.
2. PV Performance Guarantee: The policy covers the owner if there is a shortfall in the generation of the power as described by the manufacturer. Upon falling below a particular level, the performance guarantee protection kicks-in offering the needed support. Advantages include – guarantee MWh on energy produced, secures rate of investment, underwritten for a single project or a portfolio, and non-cancellation agreement with A-rated insurer.
3. PV Performance Warranty: The warranty is applicable for both manufacturers and investors. For manufacturers, the Corporate Cover offers long term protection in guaranteeing the capital returns issued for 25 years. In doing so, manufacturers offer credible warranties while keeping their balance sheet protected. When it comes to investors, the policy protects against insolvency of the manufacturer who supplied and installed the PV modules for a solar park.
Solarif provides extensive support to investors, asset owners, PV manufacturers, EPC contractors, and solar project developers. Investors receive operational and risk insurance, essential coverage, political risk coverage, natural disasters, terrorism, violence, and lack of required sun to generate electricity.
Manufacturers receive third-party insurance that supports warranty during a claim and protecting interest of customers during bankruptcy. It is likewise possible to opt for liability insurance depending on the requirement. EPC contractors receive transport, construction, operational, and liability insurances. For solar park developers, Solarif offers public and professional liability insurance.
With the right kind of protection from Solarif insurance, it is possible to protect PV investment against any unforeseen circumstances.