Energi Launches Installation Performance Warranty

Energi Holdings Inc., a Delaware-based holding company that provides specialized insurance and risk-management solutions to energy firms, has officially launched its Solar Installation Performance Warranty, a cover to insure against lost revenue from a solar array in the event that a solar contractor's design or installation causes reduced output.

The Solar Installation Performance Warranty is purchased by the contractor and provides project owners, developers and lenders additional security for the electricity and solar renewable energy credit revenue generated from commercial solar installations, the company explains. The cover also allows solar contractors to avoid posting balance-sheet liabilities for performance guarantee obligations.

Coverage is available for U.S.-based solar contractors following best practices and will be underwritten through International Insurance Co. of Hannover Ltd., an operating insurance company of Hannover Re.

SOURCE: Energi

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