Low Solar Irradiance

Empower your solar energy business to succeed, even during low solar irradiance, with our customized parametric solution

Things you can do

Overview

Businesses that rely on solar energy can be at risk of low power generation due to cloudiness or inclement weather causing low solar irradiance. Arbol's parametric insurance offers protection against revenue losses that stem from low solar irradiance, providing peace of mind with customized coverage.

Available

All 50 U.S. states

Who can benefit

Utility-scale solar power plants
Commercial rooftop solar panel installations
Solar equipment manufacturers
Energy storage facilities
Off-grid solar system operators

How it works

Using ERA5 land surface solar radiation downwards hourly data, our coverage makes insureds eligible for loss payments if cumulative solar irradiance falls below the pre-selected trigger, helping manage financial risks associated with low solar irradiance.

An example structure

For informational purposes only. Actual coverage may vary by carrier.

Context

Jason operates a remote lodge and resort that relies on an off-grid solar panel system for energy. If there is abnormal cloudiness or inclement weather for a prolonged period of time, Jason will incur significant costs to use backup generators or cancel reservations due to a lack of ability to provide hospitality services.

Contract structure

Client

Off-grid solar panel system

location

Breckenridge, Colorado

peril

Lack of solar irradiance

full limit recovery

0 kilowatt hours per square meter

Payouts Based on

Cumulative solar irradiance

limit

$50,000

payout table example

x% for Cat 3 within 30 miles

y% for Cat 4 within 20 miles

z% for Cat 5 within 10 miles

Daily threshold

limit paid at

Payment per kwh per sq meter

$1,000

time period

6/1 - 8/31

Coverage trigger

50 kilowatt hours per square meter

data source

National Hurricane Center

Payout profile

Next steps

If you're an agent, you can request a premium indication

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If you have a question?

Climate Risk Insurance Solutions LLC, doing business as Arbol Insurance Services, and operating in New York under the name Arbol Insurance Services LLC (“Arbol” or “AIS”) is licensed as a property casualty and surplus lines insurance agency in all states in which insurance is offered and such licenses are necessary to offer this insurance. All descriptions or highlights of the insurance being provided are for general information purposes only, do not address state-specific notice or other requirements, and do not amend, alter, or modify the actual terms or conditions of an insurance policy. Availability and qualification for coverage, terms, rates and discounts may vary by jurisdiction. Our state license numbers can be found here. AIS does not solicit from the public. Any carrier ratings contained herein are as of 7.18.23. A.M. Best ratings are under continual review and subject to change. Current ratings can be found at www.ambest.com.