kWh Analytics, the market leader in Climate Insurance, today (April 23) announced a successful collaboration with Nextracker, a global leader in advanced solar energy solutions, that resulted in a 50 percent reduction in severe convective storm deductible for a solar project in Arkansas. This partnership demonstrates how strategic technology implementation can significantly improve insurance terms while enhancing risk mitigation for renewable energy assets.
The collaboration was initiated when traditional carriers became unwilling to cover a municipal solar developer's hail risk, a growing challenge for solar assets in severe weather regions. kWh Analytics, recognizing that the project employed Nextracker's solar tracking systems, developed an innovative insurance structure with comprehensive hail limits with low deductibles contingent on the implementation of Nextracker NX Horizon Hail Pro automated stow technology.
"This collaboration with Nextracker exemplifies how data-driven underwriting can incentivize resilience measures and benefit all stakeholders," said Jason Kaminsky, CEO of kWh Analytics. "By quantifying the risk reduction from advanced technologies like automated hail stow, we're able to offer significantly improved insurance terms."
The NX Horizon tracker system features core technology that enables rapid stowing without relying on grid power. The Nextracker asset management team collaborated with the municipal utility to upgrade existing tracker systems to include Hail Pro control system hardware and firmware, unlocking automatic stow capability. These enhancements included integrating DTN hail forecasting service and Nextracker's tailored hail stow thresholds, which trigger automatic stowing based on hail size, proximity to the site, and likelihood of impact.
"As extreme weather events become more frequent, having the ability to actively mitigate hail risk is becoming essential for solar asset owners and insurers," said Andrew Griffiths, vice president asset management, Nextracker. "Our Hail Pro technology is delivering measurable value by keeping critical infrastructure operating in the field, and in this case, contributing to lower insurance deductibles. This collaboration proves that smarter tracker design and advanced software can strengthen asset resilience and improve project economics."
For the developer, the benefits extended beyond insurance savings to operational improvements and peace of mind. "This is so much easier and lets us sleep better at night and focus on preserving utility services for our community members," said the municipal utility operations manager.
This collaboration exemplifies how partnerships across the renewable energy industry can deliver tangible benefits for all stakeholders. When technology providers, insurers, and asset owners work together, they create innovative solutions that can reduce risk, lower costs, and enhance project reliability.
You can learn more about the insurance deductible benefits resulting from this collaboration in kWh Analytics' case study.
ABOUT kWh Analytics
kWh Analytics, a leading Climate Insurance provider, underwrites property insurance and revenue firming products for renewable energy assets. Our proprietary database of 300,000+ zero-carbon projects and $100B in loss data fuels advanced modeling and insights, enabling precise underwriting decisions. This data-driven approach incorporates resiliency measures in risk evaluation, promoting sustainable practices in the renewable energy sector.
Trusted by 5 of the top 10 global (re)insurance carriers, we've insured over $40 billion in assets to date. Our tailored solutions further our mission of providing best-in-class Insurance for our Climate. Recognized by InsuranceERM Climate and Sustainability Awards, kWh Analytics continues to pioneer in the renewable energy insurance sector.
Learn more at https://www.kwhanalytics.com/, or LinkedIn
Contacts
Nikky Venkataraman
Senior Marketing Manager
kWh Analytics
nikky.venkataraman@kwhanalytics.com
+1.720.588.9361
