Photovoltaic
Warranty Insurance

Protect your long-term solar investment

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Wherever there is sun, there is need for protection

The dynamic and fast-growing pace of the photovoltaic industry has brought with it many opportunities but also many challenges. Rising material costs, high price pressure, changing legal conditions and the introduction of many new players on the field have all led to challenges for suppliers and investors alike.

Over the last 25 years, approximately every fourth manufacturer of solar panels went bankrupt or was taken over – and with them, went the warranties. This market volatility led to investors and park owners bearing the full risk of the panel performance and endangered the overall long-term profitability of their solar investment.

For manufacturers to remain competitive for their clients in this landscape, reliability is essential for the growth of their business on a global scale. Delivering premium quality and state-of-the-art technology that safeguards their customers long into the future is essential.

Check out how you will benefit from our PV Warranty Insurance

Munich Re offers you a flexible and reliable PV Warranty Insurance safeguarding the stable performance of solar assets for up to 25 years.

Meet us at Intersolar Europe, 6 - 8 October 2021, Messe München

You will find our booth in hall A5, booth number A5.537. We look forward to meeting you there!

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PV Warranty Insurance helps your business grow

Benefits for Manufacturers:

Enables your sales efforts on a global level
Instills confidence in the performance of your products
Positions you as a reliable business partner

Benefits for Investors:

Secures your long-term rentability of your solar investment
Protects you against insolvency of manufacturers and underperformance of panels
Can even lead to better financing conditions

Learn more about our Photovoltaic Warranty Insurance portfolio:

Munich Re has established an outstanding PV Warranty Insurance to keep your long-term investment profitable. We tailor our solution to your growth ambitions and your protection requirements.

Benefit from our tailored solutions to your growth ambitions and your protection requirements

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Munich Re’s PV Warranty Insurance Portfolio

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Munich Re issues a Warranty Partner List with photovoltaic module manufacturers that meet the following criteria:

The Warranty Partner

has passed the Munich Re annual due diligence process.
has bought insurance capacity for at least 100 MWp per year which is reinsured by Munich Re.
is entitled to register buyers of PV projects larger than 2 MWp for Munich Re's warranty insolvency protection: In the event of the manufacturer’s insolvency, the policy is seamlessly transferred to the registered buyer, ensuring that the warranty claims remain covered.

Munich Re’s PV Warranty Insurance Partners

Munich Re recommends that buyers request a Beneficiary Declaration Letter issued by Munich Re to confirm and verify that their PV modules have been registered (such a request can be made to the Warranty Partner).

The Warranty Risk of Solar

Our PV Warranty Insurance is straightforward and effective: manufacturers protect their ability to pay excessive warranty claims on modules for a period of 25 years (up to 30 years for glass-glass modules). In the event of the manufacturer’s insolvency, the policy is seamlessly transferred to you as a registered buyer, ensuring that your warranty claims remain covered. You can ask manufacturers that have purchased the cover for a Benerficiary Declaration Letter from Munich Re. This insurance enables you to take control of the warranty risk of solar – and the letter acts as your seal of approval.

Insolvency of the manufacturer, and
PV module warranty claim
(i.e. faulty manufacturing, material defects, excessive material aging)

Our offer

Significant risk transfer: high and extendable insurance protection over 25 years
Reliable loss payout: no first-come, first -served situation in claims scenarios
Individualised Benerficiary Declaration Letter issued by Munich

Top-Up Cover

With payout limits of 5–10%, Munich Re’s PV Warranty Insurance meets the financing requirements of most projects.

If buyers might need more coverage, they can extend protection with a Top-Up Cover directly from Munich Re. It provides excess of loss limit coverage for up to 100% of the system’s module value and can be additionally customised to include risks such as costs of labour, transportation or loss of revenue.

4 reasons why you should choose Munich Re’s PV Warranty Insurance

Local support and claims handling
International presence

A global network of local offices and insurance partners is essential for your support and efficient claims handling.

Limits
1%-9%+

The limit (in percent of a system’s module value) is the maximum payout of the insurance. Meaningful protection starts at 5%.

Assignability
Reserved budgets (dedicated limits) are clearly assigned to each project

For warranty coverage following a manufacturer’s insolvency, limits should be clearly assigned to each project.

Period of coverage
Seamless protection for 25 years

Coverage with one reinsurance partner for the whole duration ensures accountability.

Disclaimer

Not all Buyers of PV modules from the Warranty Partners listed above are eligible or have been reported to Munich Re as registered Buyers. Unless and until a Buyer has been declared to Munich Re and registered, no reinsurance coverage from Munich Re is afforded. Terms and conditions apply to the Policy which may potentially limit (or exclude) coverage. The specific rights and obligations of all parties as well as claims process are contained in the full Photovoltaic Sales Policy and the Photovoltaic Buyer Policy. For details please contact the module manufacturer to receive an Insurance Letter.