Featured in Further upstream – 10-2024

Clear impact on premiums

Claire Kearns-McCoy and Paul Wormser, executives at consultancy Clean Energy Associates (CEA), consider the lasting impact of a May 2019 hailstorm that damaged 400,000 solar panels in Texas.
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pv magazine
High-profile incidents of hail damage have led to higher insurance premiums for at-risk projects. | Photo: CEA

 A freak hailstorm that hit West Texas on May 17, 2019, prompted an insurance payout totaling tens of millions of dollars, sobered the industry, and rallied critics of solar.Further high-profile damages have led to solar project insurance premiums rising by as much as 400%. At the same time, PV project coverage has reduced. Deductible requirements have …

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