San Francisco, CA – September 23, 2024 – kWh Analytics, a leading provider of Climate Insurance for renewable energy assets, is excited to announce a new, $2.4M partnership with the U.S. Department of Energy Solar Energy Technologies Office (SETO) through the Materials, Operation, and Recycling of Photovoltaics (MORE PV) Funding Program. This partnership aims to develop innovative approaches to solar PV resilience, focusing on introducing asset resilience measures against natural catastrophes earlier in the asset development lifecycle.
The increasing severity and frequency of damage-causing natural catastrophes, such as hail, hurricanes, and floods, pose a significant threat to solar assets, putting clean energy goals at risk. In today’s environment, developers lack the tools they need to make informed decisions on how to design, build, and operate more resilient facilities; kWh Analytics' project aims to produce tools to help asset developers address the specific perils their assets are exposed to at every stage in the project lifecycle.
“This award is a testament to both the long-standing partnership between kWh Analytics and the U.S. Energy Department, and our organization’s commitment to advancing the energy transition,” said Jason Kaminsky, CEO of kWh Analytics. “Our deep industry knowledge and unparalleled data give us unique insight into climate-resilient design, construction, and management of renewable energy assets – knowledge that we apply to our underwriting decisions and risk assessment. ”
The funding will support several key initiatives, including aggregating real-world renewable energy physical loss data and developing standardized best practices. Project partners include the National Renewable Energy Lab, known for resilience best practice research; DNV, a prominent independent engineer; and lender's consultant STANCE Renewable Risk Partners.
In the context of solar energy, resilience refers to an asset's ability to withstand, adapt to, and quickly recover from disruptions caused by extreme weather events or other natural disasters. This includes features such as reinforced mounting systems, hail-resistant panels, and advanced monitoring and response systems. By focusing on resilience, the solar industry aims to ensure the long-term viability and reliability of clean energy infrastructure.
kWh Analytics is committed to connecting researchers and industry experts to the insurance market to foster a collaborative environment for sharing best practices and knowledge. Each year, kWh Analytics publishes its 'Solar Risk Assessment,' recognized as the solar industry's leading report on the evolving landscape of solar generation risk. The report has become a staple read for the solar insurance industry, serving as a guide for investors who recognize the importance of allowing data-based insights inform the deployment of capital. The MORE PV research award is a further opportunity to work alongside industry experts to advance resiliency measures to mitigate solar generation risks and collectively support the energy transition.
kWh Analytics was selected as a part of the SETO Materials, Operation, and Recycling of Photovoltaics (MORE PV) Funding Program. MORE PV projects address challenges associated with the rapid deployment of PV systems in the United States, including the increasing demands on PV materials, system operation and maintenance, and recycling. kWh Analytics is one of several project partners that will support technology improvements to reduce these challenges with a holistic view of all stages of the PV lifecycle—from the material needs and installation to operation and end of life.
ABOUT KWH ANALYTICS
kWh Analytics is a leading provider of Climate Insurance for zero-carbon assets. Utilizing their proprietary database of over 300,000 operating renewable energy assets, kWh Analytics uses real-world project performance data and decades of expertise to underwrite unique risk transfer products on behalf of insurance partners. kWh Analytics has recently been recognized on FinTech Global’s ESGFinTech100 list for its data and climate insurance innovations. Property Insurance offers comprehensive coverage against physical loss, with unique recognition and consideration for site-level resiliency practices, and the Solar Revenue Put production insurance protects against downside risk and unlocks preferred financing terms. These offerings, which have insured over $30 billion of assets to date, aim to further kWh Analytics’ mission to provide best-in-class Insurance for our Climate. To learn more, please visit https://www.kwhanalytics.com/, connect with us on LinkedIn, and follow us on X.
About the Solar Energy Technologies Office
The U.S. Department of Energy Solar Energy Technologies Office supports research, development, demonstration, and technical assistance to improve the affordability, reliability, and domestic benefit of solar technologies to support an equitable transition to a decarbonized energy sector. Learn more at energy.gov/solar-office.
Contact
Nikky Venkataraman
Senior Manager, Marketing
kWh Analytics
E | nikky.venkataraman@kwhanalytics.com
T | (720) 588-9361