Why Your Solar Business Needs Mechanical Breakdown Coverage
Guest Blog by Steve Rossi
I have had many conversations with Solar operators concerning mechanical breakdown. I would like to share an example from one of our insureds.
Our insured installed a solar power generating system capable of producing revenue of approximately $40,000 average per month. The transformer which was connected between the inverter and utility grid was damaged by an electrical breakdown; while the transformer itself was under $20,000, it was custom manufactured for the specific use and a replacement unit required approximately 3 months to obtain. During the downtime period, revenue loss from the system was 100%.
Under mechanical breakdown coverage the replacement transformer was replaced and loss of income was paid by the insurance carrier. The insured had a $2500 deductible.
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