Solar Energy Productivity
A solar panel distributor in Rajasthan wanted to provide an energy production guarantee to its customers. They purchased a solar irradiance index insurance cover that pays out if total solar irradiance falls below a trigger level.
Who Can Benefit
- Homeowners
- Farmers
- Solar Power Plants
- Real Estate Developers
- Solar Equipment Manufacturers
- Education Institutes, Hospitals
- Residential & Commercial Complexes
Solar Irradiance
Sample Policy
A solar panel distributor in Rajasthan purchased a solar irradiance index cover that pays out if total solar irradiance falls below a trigger level.
Coverage Terms
POLICYHOLDERSolar Panel Distributor
LOCATIONRamsar, Barmer, Rajasthan
DATA SOURCESurface net solar radiation, ERA-5 Land (Geo Reference: 25.7°N 70.9°E)
PAYOUT BASED ONCumulative Solar Irradiance
COVERAGE PERIOD1st April to 31st March (Monthly payout)
PAYOUT CALCULATION(Trigger Level - Cumulative solar irradiance per month) × (Cost of kWh energy production/sq. mt.)
TRIGGER LEVEL80% of Expected Production
MAXIMUM PAYOUTUp to 100% of Sum Insured (at 0% of expected production)
Payout Sheet
For illustration purposes, a sample of one cover is presented below. Generally, covers using multiple indices are offered for comprehensive coverage.
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