Renewable Energy & Sustainability

Renewable energy insurance provides comprehensive protection for solar, wind and battery storage projects. Coverage typically includes property damage to the generating equipment and balance of plant, equipment breakdown due to mechanical and electrical failures, business interruption that compensates for lost revenue when your facility can't generate power following a covered property or equipment breakdown and general liability protection. Most programs also address construction-phase risks, environmental exposures and cyber threats. The right policies protect both your physical assets and the revenue streams that make these projects financially viable.

HUB provides insurance for solar photovoltaic installations, wind turbines, battery energy storage systems and many other sustainable energy facilities. We cover utility-scale projects generating power for the grid, commercial and industrial installations serving specific facilities and distributed generation assets across multiple sites. Our programs address both ground-mounted and rooftop solar arrays, wind farms, biogas facilities and emerging technologies such as hydrogen and Carbon Capture. Coverage extends to all property that forms part of each project.

Federal tax incentives, such as the Investment Tax Credit (ITC) and the Production Tax Credit (PTC), can affect insurance requirements. Lenders and tax equity investors can mandate specific coverages, levels and policy terms to protect their financial interests in projects benefiting from these credits, where clawbacks and tax rulings can significantly impact revenue. These types of insurance are specific and outside of the general property and casualty insurance typically procured.

Absolutely. HUB structures portfolio insurance programs that cover multiple renewable energy sites under a single policy. This approach often reduces costs compared to insuring each project separately, while simplifying administration and claims management. Portfolio programs work particularly well for independent power producers, utilities and investors managing geographically dispersed assets. We can design coverage that accommodates projects at different development stages, various technologies and multiple locations while maintaining the flexibility to add or remove assets as your portfolio evolves.

Construction-phase coverage protects your project from groundbreaking through commissioning and commercial operation. Builder’s risk insurance covers physical damage to materials, equipment and installations during construction. Delay in startup coverage compensates for lost revenue when construction delays prevent your project from meeting commercial operation dates. The policy addresses risks like weather damage, equipment transit, theft of high-value components, testing and commissioning failures and EPC contractor default. Coverage typically extends through a testing period after substantial completion to ensure all systems perform as designed before transitioning to operational insurance.

Yes, renewable energy insurance covers damage from hurricanes, hail, windstorms, floods, tornadoes and other natural catastrophes. Solar panel hail damage and wind turbine blade failures are among the most common weather-related claims, while wildfire exposures from drought and/or lightning events are also on the rise. Insurers use catastrophe modeling to assess your location's exposure to extreme weather and price coverage accordingly.

Projects in high natural catastrophe-exposed areas face higher deductibles and premiums, and in some cases, limited capacity requiring excess catastrophe coverage or parametric insurance. Strong risk management practices, such as solar panel tracking systems for hail or wind storms, remote monitoring and response to high-wind events for turbines, and vegetation management processes, improve insurance terms and conditions and, in some cases, can mean the difference between insurable and uninsurable risk.

Equipment breakdown insurance covers mechanical and electrical failures that aren't caused by external physical damage. This includes inverter failures, transformer malfunctions, gearbox failures in wind turbines, battery system thermal events and SCADA system breakdowns. Standard property policies often exclude these internal failures, making dedicated equipment breakdown coverage essential. The policy typically covers repair or replacement costs, business interruption losses during downtime and expediting expenses to speed up repairs. Given the sophisticated technology in renewable energy facilities, this coverage protects against expensive component failures that can take projects offline for extended periods.