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Rooftop solar power to be insured

Users of rooftop solar power will be insured for the first time in Vietnam under a deal among solar energy solution provider SolarBK Holdings, Bank for Investment and Development of Vietnam (BIDV), and BIDV Insurance Corporation (BIC).
Rooftop solar power to be insured ảnh 1Users of rooftop solar power will be insured for the first time in Vietnam under a deal among solar energy solution provider SolarBK Holdings, BIDV, and insurer BIC. (Photo: VNA)

HCM City (VNA) – Users of rooftop solar power will beinsured for the first time in Vietnam under a deal among solar energy solutionprovider SolarBK Holdings, Bank for Investment and Development of Vietnam(BIDV), and BIDV Insurance Corporation (BIC).

The three firms held an event in Ho Chi Minh City on September 20 tolaunch an insurance product for households that use SolarBK Holdings’ BigKsolar panels to generate electricity.

As the quantity of power produced by rooftop solar panels largelyrelies on weather condition, the insured would get compensation if the quantityis not as expected.

If the actual volume ofelectricity produced is lower than 75 percent of the estimated volume, the clientswill receive money for the difference from the BIC over a period of five years.

According to Nguyen NgocQuynh from SolarBK Holdings, when customers purchase BigK rooftop solar systemsfrom the SolarGATES, a subsidiary of SolarBK Holdings, from now to July 31,2019, they will be provided with this new type of insurance.

The customers can also getloans from the BIDV for their purchases at preferential interest rates for upto 36 months that are applicable until October 31 this year.

This move aims to encourage more people to use the renewable energy inthe future as the industry is still in its early stage. –VNA 
VNA
#rooftop solar power #insured #solar energy solution #insurance #BigK #solar panels #power #electricity #renewable power #solar power #Vietnam #Vietnam news #Vietnam News Agency #Vietnamplus #business #economy
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