SOLAR VS HAIL: PIVOTING AWAY FROM DANGER
Conclusion
With more solar capacity installed globally between 2022-2024 than in the previous 50 years combined[1], solar PV has become a main engine for growth in renewables. This opportunity also brings heightened risk particularly associated with extreme weather, and notably hail.
As the solar industry continues to build more projects in exposed locations, effective collaboration between the insurance sector, solar developers, and technology providers will be essential. Through deepening understanding of the challenges and risk mitigation strategies, we have an opportunity to elevate and strengthen the sector’s resiliency and support its future growth.
In this spirit, we are deeply grateful to our contributing authors for their insights, time commitment, and partnership as we developed this comprehensive report. We hope the combination of data and insight proves useful and impactful for solar project developers and the industry’s ability to manage and mitigate hail risk.
Tell us what you think and let’s continue the discussion. You can get in touch with the AXIS Global Energy team here
[1] International Energy Agency (2024) World Energy Investment 2024 World Energy Investment 2024 – Analysis - IEA
