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
-
AIG’s McMurdo to join Steadfast MGA as CUO personal lines
- August 20
The move comes as the broking group's MGA division acquires AIG's HNW home and contents portfolio.
-
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.
-
WTW | A new way forward: Cutting through Asia’s coal conundrum
With power demand soaring and coal placements declining, fossil fuel plants and insurers must work in tandem to accelerate decarbonisation and ensure the region’s resilience.
-
Marsh | Closing the nat cat protection gap with effective physical climate risk mitigation
Climate modelling and risk engineering expertise can help with risk mitigation and insurance affordability.
-
Zurich | Designing result-driven embedded insurance propositions
Embedded insurance is more than just a tick in the box, it calls for a hands-on approach involving thoughtful consideration of customer value.
-
Peak Re | Unlock the potential of South-East Asia insurance markets
Multiple positive growth drivers underpin optimism about the insurance outlook of the region.