A Guide to Solar Panel Inverter and Batteries Insurance Cover.

At OneSure, we are pleased to announce that we have recently Invested in solar energy and are now completely off-grid, demonstrating our dedication to the environment and our valued customers. This eco-friendly initiative not only contributes to the reduction of our carbon footprint but also ensures that our operations continue to be efficient and dependable. With our solar-powered infrastructure, we can confidently provide continuous service to our clients when they need us the most while actively contributing to a sustainable future for all.

As South Africa transitions to renewable energy sources, residential and commercial solar panels are gaining popularity. Investing in solar technology not only reduces your carbon footprint but also offers the possibility of long-term energy cost reductions. Due to this increasing demand, it is crucial to protect your investment in solar technology with appropriate insurance cover. This article will discuss the most important aspects of solar panel insurance cover to help you make an informed decision and protect your solar system from unforeseen events.

Solar photovoltaic (PV) panel systems typically consist of PV panels, an inverter, and batteries. The PV panels are generally affixed to the roof of a building, but they can also be installed in other locations, such as a field. The inverter, which is usually mounted on a wall inside the building or as part of a portable system, converts direct current (DC) produced by the solar panels into alternating current (AC) used by your home or business. Batteries store the electricity produced by the panels for later use. These batteries can be lead-acid (either gel or absorbed glass matt) or lithium, with other types of batteries usually not insured.

When choosing PV solar system insurance, it's essential to understand the two primary types of cover: peril cover and all risks cover. Peril cover protects you against loss or damage to your solar system caused by events such as fire, lightning, explosion, malicious damage, and extreme weather conditions. In contrast, all risks cover offers more comprehensive protection, covering damage or loss from any cause not specifically excluded in the policy. It's crucial to note that certain exclusions apply, such as wear and tear, gradual deterioration, and losses covered by guarantees, warranties, or other insurance policies.

For a solar system to be insured, certain conditions must be met. The system must be installed by a qualified electrician with a red seal accreditation, which ensures proper training and competence. Additionally, power surge units must be installed into the distribution board connected to the insured items, and a Certificate of Compliance is required upon completion. These conditions help ensure that your solar system is correctly installed and maintained to minimize the risk of loss or damage.

When it comes to insuring batteries, the indemnity is typically calculated based on the actual value of the battery before the loss, multiplied by the remaining life expectancy (expressed as a percentage) as per the manufacturer's guidelines. This approach considers the shorter lifespan of lead-acid batteries compared to lithium batteries. In case a battery is part of a stack and cannot be replaced or connected to the stack, the insurer's liability will be limited to the outstanding life balance of the damaged battery.

Finally, security requirements may be stipulated in your insurance policy to protect against theft. This could include an operational 24-hour alarm system linked to a response unit, which must be activated when the property is unoccupied. The policy may also set out specific security requirements, such as the presence of security cameras or other protective measures.

In summary, solar panel insurance cover is crucial in protecting your investment in renewable energy technology. By understanding the key aspects of cover, adhering to the conditions and requirements, and selecting the appropriate type of insurance, you can ensure that your solar system is safeguarded against unforeseen events. As a result, you can enjoy the benefits of clean, green energy with peace of mind, knowing that your investment is protected and contributing to a more sustainable future.