Solar panel warranties vs. system performance guarantees:
Since commercial solar panels are a significant and long-term investment, our organization’s stakeholders will want to prove that the client investment will be protected. This typically happens through some kind of solar panel warranty or solar production guarantee (also called a performance guarantee)—or a combination of these.
Solar warranties and guarantees mitigate the risk of faulty equipment, breakage and/or underperformance that might occur. Problems with solar panels are statistically rare, particularly when you choose solar equipment from proven manufacturers. But the presence of documented assurances can give you a greater understanding of the long-term financial impact of solar ownership, and help gain stakeholders’ buy-in for your proposed solar project.
As our clients researching commercial solar options, they will likely encounter a wide variety of warranties and guarantees with different types of coverage and term lengths, plus lots of fine print that might make it unclear what’s covered and what’s not. In addition, depending on the manufacturer, warranty definitions can vary greatly.
For example, did you know that there’s a difference between solar panel product warranties and power warranties? And did you know that solar panel power warranties are different from performance guarantees? And that performance guarantees can be difficult to get and usually come with strings attached pertaining to operations and maintenance? The options can get confusing, but it’s important to understand the differences when you’re deciding between solar companies.
Comparing solar panel product warranties, power warranties and performance guarantees:
Energia-Star provides solar panel replacement coverage. This Contractual Liability Insurance Product (CLIP) coverage provides equipment protection that is designed to replace or wrap around the manufacturer’s warranty. Available for manufacturers, project owners and developers, this product provides comprehensive protection.