ReneSola independant insurance assessment
ReneSola has announced that Solar Insurance & Finance (Solarif), an international and independent insurance broker specializing in insurance for PV installations, has certified ReneSola modules based on a positive audit of the Company involving relevant technical, financial, environmental, and labor considerations.
As a result, ReneSola customers who choose to insure their PV projects through Solarif are eligible for additional coverage that extends the warranty to include inherent defects. This coverage can be extended up to 20 years and is typically coupled with Solarif's "all-risk" coverage, which covers material damages, labor costs, and loss of production due to external causes. The all-risk insurance, including the additional coverage for inherent defects, remains valid even if the certified manufacturer ceases operations or disputes a warranty claim. The insurance is now available for all ReneSola China-facility made modules, and coverage for modules from the Company's global network of production facilities is expected to be available shortly.
"Solarif certification represents another third-party endorsement of our quality PV products and reflects our commitment to providing long-term value to our customers," said Mr. Xianshou Li, ReneSola's chief executive officer. "The global solar industry has experienced considerable ups and downs over the last two years and buyers of PV products are understandably cautious when choosing among the many options available. ReneSola customers can buy with confidence knowing that warranty protections of up to 20 years are available to them. This type of coverage not only facilitates the financing of a PV installation, it can also boost an installation's resale value."
