Hail events have historically posed a considerable risk for utility solar projects, with weather instances creating up to $100 million in damages at large projects located in “Hail Alley” states such as Texas.
In some instances, the cost of insurance could exceed 25% of annual operating and maintenance expenses, said insurance broker Marsh. The firm offers five actions to properly evaluate risks and drive portfolio growth.
Once considered a low-cost investment, the price to build solar assets has increased considerably. To combat rising costs due to inflation, kWh Analytics partnered with project developer Pivot Energy to provide Solar Revenue Put production insurance across the developer’s multiple distributed solar projects totaling 70 MW in six U.S. states.
Yes Solar Solutions sees NABCEP as the gold standard for electrical installers and the only accreditation for solar installation companies.
The company offers protection against physical damage for solar and other renewable products in partnership with Aspen Insurance.
Without the SEIA proposals, solar-plus-storage projects would have needed to meet FEMA code S76-22 approval for Risk Category 4 , a risk category reserved for hospitals, fire, police and emergency services.
Also on the rise: Hanwha Solutions to expand solar cell and module manufacturing in the United States and Korea. The pv magazine tour of solar incentives stops in Vermont, home to aggressive renewable energy mandates and a one of the nation’s most forward-thinking utilities. IKEA to offer SunPower residential solar and energy storage. Electric vehicles are cheaper than gas-powered, depending on the state and incentives.
Owning an electric vehicle can save drivers thousands of dollars per year, with $6,000 average savings over the vehicle’s lifetime, but the savings is dependent on rebates, state fees, and the cost of gas and electricity.
Drones, honey, lidar, rock drills, and more were on the floor as northeast US focused vendors showed off their products in Boston.
Some of the risks involved with solar installations can be especially severe in areas of North America that experience very cold temperatures and cold and ice in the winter.
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