kWh Analytics has expanded its insurance coverage options with new Extra Pure Disaster protection, by way of its licensed insurance coverage entity Photo voltaic Vitality Insurance coverage Companies, particularly addressing the rising want for extreme convective storm safety within the renewable power market.
This new providing enhances kWh Analytics’ present property capability, which offers 100% operational and building protection for photo voltaic, wind and battery power storage belongings. The Extra Pure Disaster layer will present as much as $20 million in further capability particularly masking harm from extreme convective storms and named windstorms in non-coastal areas.
“Our loss database reveals that hail accounts for 73% of complete photo voltaic trade losses by harm quantity,” mentioned Jason Kaminsky, CEO of kWh Analytics. “As renewable initiatives develop in measurement and tax-equity traders and lenders require greater insurance coverage limits, we’re addressing a essential market hole with this specialised extra layer answer.”
A cornerstone of kWh Analytics’ method is rewarding resilience by way of its underwriting course of. Tasks that implement protecting measures comparable to hail stow capabilities, strengthened module traits together with glass thickness, and correct O&M protocols will profit within the extra layer, simply as they do in major protection.
“Resilience ought to be rewarded at each stage of protection,” mentioned Isaac McLean, Chief Underwriting Officer at kWh Analytics. “Our Extra Pure Disaster providing evaluates the identical resilience elements we take into account in major protection, and we request asset house owners and sponsors present us particulars of their hardening methods so we will appropriately credit score their threat mitigation efforts.”
To supply a standardized framework for evaluating hail resilience and provide insurance coverage credit score for protecting measures, kWh Analytics and VDE Americas have developed the Hail Stow and Danger Analysis device. This evaluation examines essential elements, together with panel specs, tracker stow angles, forecasting methods, and testing protocols. Tasks demonstrating sturdy hail protection methods by way of this analysis can safe extra favorable phrases, even within the extra layer.
Information merchandise from kWh Analytics
