Insurance

To ensure sustainability and financial viability, the solar industry needs a critical reevaluation and enhancement of both technical protective measures and financial risk management practices for solar installations in hail-prone regions.

The modernization and transition of energy sources towards environment-friendly options, jointly exercised with the capacity to conserve the proven available reserves, is an action fraught with foresight. The emergence of the future scenarios and how it will all play out in the long term remain unknown to the human consciousness. However, the foresight emanating through the intertwining of the collective consciousness of human existence shall undoubtedly provide us with a potent armory to articulate our response to the emerging scenarios.

The payment security fund administered by SECI will ensure late payments by debt-laden discoms will not affect solar developers. The government is considering a levy on PV projects to help maintain the fund.

Big players such as Acme, ReNew, Adani, Azure, Hero Future and Aditya Birla Solar are likely to stay away from procurement which requires 3 GW annual manufacturing commitment, says industry insider Gopal Lal Somani.

Inspectors from solar risk management company PI Berlin visited six projects and exposed cost-cutting in installation, non-existent warranties, serious safety concerns and improbable performance figures.