PV Solar Guarantees Warranties and Insurance
Guarantees, Warranties and Insurance
In case of Solar PV systems, the solar panel and most other equipment manufacturers offer guarantees and warranties. Before finalizing/signing the purchase contract with the solar installer, you should ensure to check the warranty and guarantee terms of Solar PV components and system. Some of them are mentioned below:
Solar PV Panels
- 10 years of product warranty against defect on materials and workmanship
- Performance Guarantee of 25 years. In most of the cases, this guarantee is for 10 years at 90% of rated peak power output and for 25 years at 80% of rated peak power output. Peak power output is the nameplate capacity of a Solar PV panel.
Solar PV panels degradation trend
Degradation of solar PV panel should not be above 2.0% for first year, 8.0% for next 11 years and should not be above 9.0% linear for 13 years to follow thereafter.
Inverter
Typically inverter warranties last for 5 years; however installer or manufacturer may give extended warranties for a period of 20 years though for a fee.
Mounting Systems
Generally suppliers provide 5 to 10 years product warranty against any manufacturing defect
Solar PV System Warranty
Installers give you workmanship warranty for a period of 1~2 years or even more in some cases. It includes repair/replacement against manufacturing defects and engineering defects.
Plant performance guarantee
Generally Installers provide plant performance guarantee for a predetermined period of at least 1 to 2 years or even more in some cases. Plant performance percentage value should be pre-determined and mentioned in the purchase contract agreement. In addition, you may ask for additional guarantees like Liquidated Damages for delay in execution or poor performance, etc.
Have more queries? Contact Us and we will be happy to answer those.
System Insurance
Most insurance companies now offer insurance products for Solar PV systems. Typically, the premium amount for a policy that covers fire & burglary of the system would be approximately 0.75% of sum insured/ capital cost. For example, if you have a 1 kWp solar PV system which costs approx. Rs. 65,000/-, your payable annual insurance premium will be approximately Rs. 487.50 under Fire & Burglary coverage. However, it is recommended that you take quotes from multiple insurance companies before you choose one.
