kWh Analytics raises US$ 20m for company growth, introduces new insurance coverage item

• Solar asset insurance company kWh Analytics has actually elevated US$ 20 million for business growth and also establishing extra services to sustain solar and also energy storage asset proprietors.

It has actually likewise introduced the launch of its new 'Building Product' that supplies all-risk protection versus physical damages for solar, storage, and also wind projects, kWh Analytics said.

The San Francisco-based firm claimed it intended to bring the options to international markets.

"These new offerings will continue to change underwriting as well as pricing within the renewable resource insurance policy area by leveraging real-world data," said the firm via a media release.

"The world requires more renewable resource to minimize climate adjustment, and insurance is vital to guaranteeing these projects get developed," said its CEO Richard Matsui.

At the end of last year, kWh Analytics introduced a new offering that it claimed allows PV project proprietors to get ahead of time settlements in return for maintaining asset performance.

The business has actually had a strong concentrate on solar asset efficiency just recently, with its 2021 Solar Generation Index (SGI), which puts together understandings from greater than 350 operational solar assets in the US, showing how the performance people solar assets against P50 estimates worsened over the last years. The report made it into PV Tech's top 10 stories of last year.

kWh Analytics uses a proprietary data source of renewable energy project efficiency, which draws information from more than 300,000 operational assets, to finance insurance policies for renewable resource. It is funded by equity capital as well as the United States Department of Energy (DOE).