Solar power in the United States includes utility-scale solar power plants as well as local distributed generation, mostly from rooftop solar panels or roof shingles which are photovoltaic in design. In 2015, 30% of all new domestic electricity generation capacity came from solar.
There are plans to build large solar plants in the U.S. Many states have set individual renewable energy goals with solar power being included in various proportions. California’s Governor enacted legislation requiring California's utilities to obtain 33% of their electricity from renewable sources before the end of 2020. It has been suggested that solar power's contribution could grow to 10% of the nation's power needs by 2025.
The fastest-growing area of the utility-scale segment is photovoltaics (PV). The U.S. PV market has grown at an average annual rate of 69% over the past ten years. Currently, “thin film” technology is among the most promising applications of PV. Thin film uses less silicon than other types of solar cells, which can lower manufacturing costs. Additionally, it can be used in a wider range of applications than traditional cells, including solar roofing tiles and windows.
Solar industry companies of all sizes, including those who work with photovoltaic (PV) technologies, rely on OneBeacon Technology’s knowledge and experience to identify and address emerging risks.
We work closely with our producers to stay ahead of industry trends and provide tailored insurance solutions to meet specific insurance needs. Ultimately, insureds benefit from the following coverages:
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When it comes to losses of electrical and electronic equipment, few events can match the destruction caused by surges (transients) and electrical noise. These phenomena are responsible for about 50 percent of most electronic equipment failures today—and that doesn’t even begin to take into account the latent damage or degradation to electrical equipment caused by surges.
This paper focuses on photovoltaics and provides an overview on what they are, the various types present in the field, power efficiencies, and the potential for growth.
Photovoltaics (PV) or solar cells are a type of semiconductor material that generates a DC electric current when sunlight strikes the cell and a portion of the light is absorbed by the cell. Cells are assembled and connected together to form a solar module or panel.