Solar Insurance Costs Drop by Half Since 2010

The cost of insuring a solar plant has dropped by 50% since 2010 because of cheaper photovoltaic panels that lead to lower project costs and reduced premiums.

By staff Writer | Updated on February 04, 2014

The cost of insuring a solar plant has dropped by 50% since 2010 because of cheaper photovoltaic panels that lead to lower project costs and reduced premiums, according to Bloomberg.

Claims filed for projects reveal that few of the risks first feared such as module underperformance in hot climates, panel theft, and defunct warranties from manufacturer bankruptcies have been reported. Data compiled by Bloomberg also shows that the cost of crystalline silicon panels—the majority of a plant’s costs—fell 67% since 2010.

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