AXIS Capital Holdings Limited has released a special report detailing the impact of severe weather, particularly hail, on solar technology. As a significant insurer in renewable energy, AXIS has gathered insights from five years of hail damage claims data to enhance understanding and mitigation strategies for solar photovoltaics (PV) projects.
Richard Carroll, Global Head of Energy at AXIS, emphasized the collaboration with industry experts and partners like Nextracker and Vaisala Xweather. "This special report brings together expert analysis from the AXIS Global Energy team and leading voices in the solar industry and reflects our shared commitment to advancing understanding around solar technology and resilience," he stated.
The report reveals that hail accounts for over half of the total gross claims for natural catastrophe (NatCat) and extreme weather events in the US and Canada. Hail claims are also globally recognized as costly after strong winds. Key findings include differences in claims amounts based on glass type used in PV modules and issues with tracker systems during hail events.
Daniel Stevens, Head of Engineering at AXIS, highlighted the growing threat of extreme weather to solar projects. "As solar projects grow, so does the threat from extreme weather, especially hail," he said.
Greg Beardsworth from Nextracker noted that intelligent tracking systems are crucial for mitigating hail risks. Scott Mackaro from Vaisala pointed out advances in data use that help identify localized risks.
To learn more about protecting solar technology against hail damage, readers can access the full report titled "Solar vs. Hail: Pivoting Away From Danger."