This means that from now on clients of AU Optronics Corporstion (BenQ) can insure their PV projects with the option ‘Inherent defect and warranty' from Solar Insurance, which backs up the warranty of the modules and expands the cover in case of an inherent defect.
In the light of recent developments regarding bankruptcies or withdrawals from the solar market investors in PV are looking for better ways to protect their interest and secure their yield. Simply relying on the quality and warranty provided by the solar module manufacturer is not sufficient anymore these days.
In line with these developments, Solarif introduced a certification programme for PV module manufacturers in 2012. When a manufacturer applies for this certification and is approved, its clients have the option of extending their all-risk insurance with additional cover for damages due to inherent defect which creates a back-up of the warranty in case of damage due to inherent defect. This cover can be extended for up to twenty years.
The all-risk insurance also covers material damages, labour costs and loss of production due to external causes and should be taken out by the owner of the installation. The all-risk insurance including the additional cover for inherent defect stays in place if the certified manufacturer ceases to exist, or if the manufacturer disputes a warranty claim. The All-risk insurance including inherent defect covers all major risks, which insures that finance can be acquired more easily and any future sale of the PV installation will be more secure.
Anticipating on the recent developments within the solar market, AU Optronics Corporstion (BenQ) started cooperating with Solar Insurance to provide their customers a unique solution. Making it possible to provide our all-risk insurance including the additional cover for inherent defect on behalf of the investor / project owner himself. That way the rights of the investor / project owner are totally secured.
Certified manufacturers
Several manufacturers have recently received certification from Solarif giving their clients the option of covering their projects with the full insurance policy, also covering inherent defect. A list of these manufacturers can be freely obtained from the website of Solarif.
