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.

I am an insurance agent who shares your passion for solar and renewable energy. I am active in the space and have put together special Insurance programs to cover the needs of Solar Contractors while reducing their overall insurance costs.

Contact me if I can answer any questions or you need a second opinion on your current program at stever@paris-kirwan.com