SOLAR PLANT INSURANCE

 Last few years Solar energy is promoted by GOI very religiously. As our country has most of the days sunshine which make it a very viable alternative to conventional energy

With subsidy and easy finance along with a favorable regime makes it is very attractive on a long-term basis.

Also, the easy availability of solar panels and other required know-how is a plus point.
Electricity act 2003 makes solar energy in commercial as well as industrial units mandatory.
Now we move to open access regime in near future will make it a very good business proposition. 
Rooftop solar plant with a priority purchase agreement (power) is also making it a viable business.
Other benefits are there but we are not going to discuss them.

What we are going to discuss is how to make solar plants work for you with minimum loss.

When we plan a solar plant, we technical expert who guides us on it.

If you see the damage caused by the storm, a stampede or thunderstorm is more prone to occur which results in loss of energy generation.
It is found that we are consulting the firms which are using common knowledge for every geography of our country.
But in reality, every part of our country have unique weather condition.

As an example, if we go towards the southern coastal region, a cyclone is a major issue. So the other part of our country has another problem.

When one goes for the cover i.e. insurance cover, lots of queries are raised.
Sometimes a proposal is declined because of technical issues. There may be not big but damage by this is very high.

Simply when one decides to install the solar plant either on the ground or rooftop, the best solution is we have to take the insurance company along with us.

Normally insurance companies have an expert with them to guide us in the whole process.
They do get involved from planning to execution of the project. 
So the damage due to weather or any other reason gets reduced. So our loss. Which makes our project not only financially viable but also reduces our premium outgo.



Location: Faridabad, Haryana, India

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