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With buildings and construction accounting for around 40% of global carbon emissions, there is increasing pressure to decarbonise the real estate arena.

Risk Partner, Marsh Advisory UK, Consulting Solutions

With buildings and construction accounting for around 40% of global carbon emissions, there is increasing pressure to decarbonise the real estate arena. Solar best optimises the trade-off between commercial return, reputational benefits, and practical feasibility over other renewable energy and decarbonisation options.  Solar PV has low physical complexity and operational requirements, which facilitate strong strategic returns in terms of reputation and customer acceptance, as well as a financial payback of around 15 years.[1] So why rooftop solar?

There are several risk controls and considerations when adopting Solar PV.

Insurers are aware of the risks relating to this technology; rates are determined by size and voltage delivery of the installation. It is worth noting that not all insurers endorse Solar PV, and some only providing cover up to a certain voltage.

Given the different types of configurations and construction materials used for buildings where rooftop solar PVs are being installed — as well as the varied natural hazard exposures associated with their locations — organisations should consult their advisers when considering installation, in order to avoid difficulties at a later stage.

[1] https://www.theguardian.com/money/2022/aug/20/solar-panels-how-to-fix-your-energy-bills-while-the-sun-shines

[2] https://www.nfpa.org/News-and-Research/Publications-and-media/Blogs-Landing-Page/NFPA-Today/Blog-Posts/2019/07/16/mapping-the-codes-for-solar-photovoltaic-pv-systems

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