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: 

1. Location, Location, Location – geography, geology and meteorology can require specific risk mitigation strategies to keep insurance costs manageable.  
2. 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.  
3. 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.