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Conergy says it is “world’s first” solar company to offer output insurance

Germany-based Conergy has announced it is the “world’s first” solar company to offer Europe-wide output insurance, which is designed to provide customers with, among other things, ten-year protection against output decreases stemming from components or configuration defects, degradation and the delamination of modules. It is only available to Conergy customers.

The insurance is available to Conergy customers. Image: Conergy AG.

“Previously,” said the company, “customers were only able to assert claims for output decreases resulting from external influences, for example a lack of solar irradiation – the new Conergy insurance, on the contrary, covers any cause.”

It added that any customer with a solar plant built or engineered by Conergy "in Germany and other European countries" can take advantage of the insurance, which was developed by the Hamburg company together with insurance broker AON and an unnamed, “renowned” German insurer.

Commenting, Conergy insurance expert Jörg Grigo stated: “This insurance offers new planning and output security for customers: The customer is guaranteed 90 percent of the output for half of the assumed minimum lifetime of a solar plant. The insurer cannot terminate the insurance during these first ten years. Following this deadline, the insurance is automatically extended for one year at a time, but even then the insurance may only be cancelled by the insurer in extraordinary circumstances – this is a real breakthrough. This new investment security may make financing easier or improve terms.”