Solar insurance costs significantly less, says expert

Solar insurance costs have come down significantly in mature markets, Jamie Fleming, senior underwriter at GCube Underwriting Ltd., said.

Mr. Fleming said "the price of panels has dropped but that's not where our key exposure is," Bloomberg reported.

"The risk of weather, flood, theft is still there,” he added.

A report by Bloomberg New Energy Finance funded by Swiss Re A.G. said that by 2020, the market for insuring renewable-energy projects will reach $2.8 billion of premiums.

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