On Twitter Mayor Geordin Hill-Lewis says: “10% of all solar installations in Cape Town since 2018 were in Jan and Feb this year!” (2023)
Good news, because every solar panel installed reduces the load on the grid and brings Cape Town closer to being immune against loadshedding (if it will improve the grid is not in my experience to answer!)
My experience is in Short-Term insurance and here are a few things to keep in mind (assuming this is a fixed, permanent installation) regarding Solar Installations:
1) Home Installation: Notify your insurer that the installation was done (sending the detailed invoice is a good idea). Be sure that the insured value of the property is enough to cover the increased cost of the Solar Installation.
2) Commercial Installation: Be very sure to notify your insurer about the solar installation, as it is by nature “Goods in The Open” and there are requirements for Goods in the Open. In essence, the insurer wants to know when they insure goods that is outside the building – it is not automatically covered.
I would prefer to see the Solar Installation on the schedule with an insured amount and corresponding premium.
From everything I read, criminals love to steal solar panels, the batteries and surely inverters, too. Make sure that you have adequate Theft cover to protect an expensive asset against loss due to theft.
Lastly: Inverters and MPPT’s (not sure they are still separate from the invertors these days) are electronic equipment and it is worth considering to insure it under the Electronic Section of the policy.
Lastly, it goes without saying that any solar installation must comply with SANS and should come with a Certificate of Compliance (also a good idea to email that to the insurer or broker).
Bottom line is don’t be so excited about your freedom that you forget about the insurance and make sure you get the right cover for YOU! Commercial insurance is not one-size-fits-all.
Feel free to contact me regarding Short-Term Insurance Questions!