Protection for the solar system: the photovoltaic insurance
Investing in a photovoltaic system is only worthwhile if the system performs consistently flawlessly. Over time, the system is exposed to many hazards and influences that can cause damage to modules and components. To protect yourself from repair costs and loss of revenue, photovoltaic insurance is essential for every plant operator.
Even for small installations in the private sector experts recommend taking out a photovoltaic insurance. The larger the investments, the more important this becomes. Storms, hail, floods, overvoltage: With time, solar modules and components can be severely affected.
The main reasons for a photovoltaic insurance
Hedging: Protection against risks
An updated photovoltaic insurance protects the system from damage. It does not matter whether the damage is caused by weather conditions, vandalism or animal bites.
Reimbursement: Replacement of lost revenue
The plant operator receives money (feed-in tariff) for feeding the electricity into the public grid. If the system fails due to damage claims, the lost earnings are compensated.
Individuality: Insurance according to own needs
A modern insurance concept incorporates many factors around the photovoltaic system. The heart is the photovoltaic insurance, which can be extended by additional, optional services – from assembly insurance to GAP cover.
Price question: Comparing offers is worth your time
For many operators of solar systems, it always causes amazement: dealing with your own photovoltaic insurance can not only make sense in terms of content, but also save money in the long run.
The reason for this is simple and logical: most PV insurances are based on the value of the photovoltaic system at construction. However, the market has changed massively in recent years – and module and component prices have fallen significantly (over 50% since 2010). A current insurance offer is based on the current replacement value of the solar system. As a result, earnings are generally much lower than for old insurance.
PV Insurance: areas in detail
In order to meet the different needs of customers, PV insurances are often based on a simple and meaningful modular principle. The insurance cover is therefore divided into the following areas:
Property and loss of income insurance
The heart of any photovoltaic insurance is the property and loss of income insurance. The property insurance protects the plant operator against damage caused by numerous external influences that could damage the solar system (such as weather conditions, explosions, vandalism, animal bites, overvoltage). In turn, the loss of income insurance ensures that the income losses arising from insured damages are compensated.
The liability insurance can optionally be integrated into the PV insurance. Liability insurance covers damage caused by the photovoltaic system and for which the operator is liable: personal injury (such as electric shock, broken glass), property damage (roof damage, property damage due to loose components) and other damage.
Installation insurance (optional):
If the solar system is first from scratch, it is worthwhile to familiarize yourself with the installation insurance. During construction, damage can be caused, among other things, to construction components – even theft is unfortunately a well-known scenario in assembly work.
GAP coverage (optional):
The GAP cover (also known as differential compensation) is a hedge that replaces the time value of the photovoltaic system in the event of a total loss, should this not be rebuilt. If rebuilding is not possible, at least the remaining debt will be reimbursed from the financing of the facility. Limit is the agreed sum insured.
Yield Guarantee coverage (optional):
The yield guarantee coverage secures the forecasted annual energy yield of the solar system.
Cyber clause (optional):
The Cyber Clause is an optional insurance policy that is designed to protect against losses caused by the loss of data or energy transfer by third parties in a damaging manner.
Further information about photovoltaic insurance
As a rule, operators of photovoltaic systems maintain these as traders. The contributions for the PV insurance can be taxed in this constellation and reduce the profit. So a part of the contributions will be transferred to the tax office.
When financing a photovoltaic project, the lending institution often expects to take out a photovoltaic insurance. Banks often offer insurance cover of their own – but it pays to make comparisons, since insurers specialized in renewable energies and solar can often offer better and cheaper services.