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Insuring Solar Project Bankability – Episode 24 of Power Players by Origis®
Manage episode 452152408 series 2934471
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Topic: Insuring Solar Project Bankability
Moderator: Michael Eyman, Managing Director, Origis Energy Services
Guest: Carol Stark, Managing Director for Aon’s North America Renewable Energy Practice
In Episode 24 of Power Players by Origis®, host Michael Eyman and Carol Stark, Managing Director for Aon’s North America Renewable Energy Practice, discuss strategies to reduce insurance costs for large-scale solar projects.
Three key takeaways to reduce overall insurance costs developers should consider:
- Location, Location, Location – geography, geology and meteorology can require specific risk mitigation strategies to keep insurance costs manageable.
- Pay me now or pay me later – by picking quality equipment like panels, trackers and racking along with reputable contractors, such as EPC and O&M firms, developers and owners could spend slightly more on upfront costs but reduce their insurance costs over the life of the project considerably.
- Timing is everything – by engaging early and often with insurance partners, developers can mitigate risks by making projects more resilient, improve overall premiums, and make the entire solar project more bankable.
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