Aon Risk Solutions: Outlook for the Solar Insurance Market
October 26 2015
Bloomberg has recently reported that new funds for wind, solar, biofuels and other low-carbon energy technologies gained 16 percent year on year to USD 310 billion in 2014. Investment in solar projects rose 25 percent to USD 149.6 billion in 2014, its highest share of the total investment ever.
Growing awareness of the impact of air pollution and climate change will likely drive greater investment into renewable energy generally, and specifically, into the solar industry. Aon believes a deeper understanding of applicable financial risk management instruments will support investment into and development of this important renewable energy source.
In order to get an in-depth understanding of solar financing and the solar insurance market, Aon Asia Construction, Power & Infrastructure (CP&I) specialty team has undertaken discussions with more than 40 stakeholders including insurers, lenders, solar manufacturers, developers, and technical consultants in China, Japan, India, Europe, and the US. In addition, Aon has engaged external legal counsel to conduct legal review on policy wordings of major solar insurance products, including performance warranty insurance for solar Original Equipment Manufacturers (OEMs) and reduced yield cover for solar developers.
This white paper provides analysis on the global solar market and solar insurance market. We hope this perspective provides fresh insight into this important subject for stakehokders in the solar financing and development value chain. If you have any questions or wish to discuss the solar insurance further, please contact your Aon representatives or contact me at [email protected].
Xia Li
Associate Director, Construction, Power & Infrastructure
Specialty Broking, Asia
Aon Risk Solutions
-
QBE’s Hammond on transformation and growth
- July 2
The Asia chief executive discusses Covid-19, going digital and restructuring.
-
Swiss Re: Nat cats and man-made disasters in 2018
- April 10
Climate change, increased urbanisation and a growing concentration of assets were on the risk agenda for 2018.
-
Willis Towers Watson: 2019 Asia Market Report
- March 19
Economic uncertainty, more complex risks and tighter underwriting are all influencing Asia's markets.
-
Peak Re: Emerging Asia’s life and health opportunity
- March 11
Life and health premium growth is expected to outpace GDP gains in eight Asian markets.
-
Peak Re | From climate modelling to market opportunity: forging a new clarity on Southeast Asia’s climate risk
With the insurance industry facing an inflection point, the new imperative is seen as becoming active creators of risk intelligence.
-
BHSI WICare+ | Accelerating Payments, Empowering Recovery
Launched in cooperation with Steadfast’s Singapore network, WICare+ fills the gaps found in traditional coverage and keeps businesses and their workforce secure by covering up to SG$350,000 in medical expenses per claim.
-
BHSI | Managing non-Asian exposure in long-tail lines
While US-exposed business can look attractive to Asian carriers, managing the volatility around the long-term results and the ability to model those losses are crucial, say BHSI’s Marc Breuil and Marcus Portbury.
-
Allianz General | Allianz General combines innovative protection solutions while powering social good to lead Malaysian market
The insurer proactively addresses emerging risks and evolving customer protection needs while giving back to the community.
