asset insurance

A combination of supply chain disruptions and extreme weather events that damage operational assets can lead to extended solar project downtimes. Rosa van Reyk, a senior underwriter at GCube Insurance, explores how the industry can ease supply chain pressure by rethinking cost efficiency and increased collaboration between developers and insurers.

San Francisco-based data analytics and insurtech firm kWh Analytics has partnered with Aspen Insurance to launch property insurance for renewable energy assets.

The US’s blocked solar supply chain combined with the threat of operational modules being damaged by extreme weather could leave project developers and asset owners at risk of revenue loss as replacement equipment becomes hard to source.

Supply chain woes, spiralling energy prices and the COVID-19 pandemic have reversed the downward trend in average business interruption (BI) claims for renewables developers, with sector-wide average business downtime days up by 38% on 2016.  

Solar asset insurer kWh Analytics has raised US$20 million for business expansion and developing additional solutions to support solar and storage asset owners.

The new edition of PV Tech Power, volume 29, is now available to download, including our comprehensive cover story on solar’s critical next decade.