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ENERGY SHORTFALL INSURANCE
01/
The policy has been designed to account “non-traditional,” nonphysical damage related risks that solar projects regularly face.
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This protection supports the performance of the project at the system level to help sustain its intended revenue stream once that project becomes operational.
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Defined coverage under policy:
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Unintentional error in the calculation of the target production;
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Defect of the insured energy installation; or
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If actual solar radiation that is less than assumed in the target production calculation.
COVERAGE
highlights
01/
Multi-year basis – usually 5 years term, Premium prepaid at Inception.
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Coverage is triggered when the annual output falls below a specified amount -typically 90% of projected output / yield
03/
The policy covers up to a specified amount –typically an amount equivalent to 30% of the projected output / yield which is an Annual Limit
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The projected yield figure is agreed at inception of the policy and adjusted annually using an agreed-upon degradation factor
05/
The Policy is Non Cancellable and No Deductibles are applicable
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