Just over a year after Astronergy and Munich Re signed a contract to cover Astronergy’s crystalline-silicon PV modules, the two companies have revealed a new agreement that sees the reinsurer covering all crystalline-silicon PV modules sold by Astronergy as of January 1, 2011. The new contract additionally calls for Munich Re to back-up the performance warranties Astronergy issues against excessive power loss over the next 25 years.
It is of note that the insurance agreement apparently does not cover Astronergy’s micromorph thin-film silicon products, but does include the entire 2011 and 2012 production volume of the company’s crystalline-silicon modules.
“The best way to protect the investment on PV systems is by choosing the strongest and most reliable partners for our PV modules. Since Astronergy's founding, quality has been our top priority. Having our modules' quality recognized by Munich Re is the result of extensive long-term efforts and continuous improvement, and we are looking forward to maximizing our customers' benefits through this service,” commented Dr. Liyou Yang, CEO of Astronergy.