On Monday, South African firms All Power Systems and Synthesis announced the launch of the country’s first commercial solar savings insurance.
The duo said in a statement that the insurance is aimed at businesses using rooftop solar energy. Which faced the risk of their panels being damaged by hail or developing a system fault, among other hazards.
Commercial solar savings insurance: partners
According to All Power Systems CEO, Jay Naidoo, the firms partnered with a global reinsurer to develop a unique solar savings insurance product to underwrite savings guarantees for companies.
“With All Power, we install solar rooftop systems for commercial clients who want to own their own sustainable electricity supplies,” Naidoo said.
“With Synthesis, we offer a complete financial solution with zero capital input from the client, and since Synthesis effectively owns these projects, we agree a guaranteed monthly fee for electricity, with zero risk.”
Synthesis Power Holdings is a partnership between All Power Systems, an energy service company, and Fusion Energy, a clean energy concern based in Stellenbosch.
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