SolarIndustryMag.com: Yingli, Munich Re Enter Performance Warranty Agreement

Yingli, Munich Re Enter Performance Warranty Agreement

by SI Staff on Tuesday 11 December 2012

comments: 0

Yingli Green Energy has signed a module performance warranty insurance agreement with one of Munich Re's specialty primary insurers.

Under the terms of the agreement, Yingli Green Energy and Munich Re will provide additional economic security for large-scale commercial and utility project developers, investors and debt providers. The agreement will cover Yingli Green Energy's multicrystalline modules sold from October 1, 2012 to September 30, 2013.

In the event of an unexpectedly large performance loss below guaranteed performance specification, Munich Re indemnifies Yingli Green Energy for its performance warranty obligations, the companies explain. The agreement covers the 10-year and the 25-year warranties on all multicrystalline Yingli Solar modules, guaranteeing that within 10 years, multicrystalline Yingli Solar modules exhibit a power output of no less than 91.2% of the nominal power output specified on the module's original product label.

Furthermore, it covers multicrystalline modules within 25 years exhibiting a power output of no less than 80.7% of the nominal power output as specified on its original product label.

Latest Top Stories

Test Centers Report On PV Module Durability Initiative

Fraunhofer test laboratories have issued their first report on PV module durability based on a new test regime meant to simulate real-world conditions in a variety of climates over time. What does it take to be world-class solar?

Global PV Thrives As Reports Say Renewables Hit $244 Billion In 2012

Two international reports on global renewable energy spending say investments dipped last year due in part to falling solar prices. However, overall demand remained strong, notably in developing economies.

Report Says Solar Was 48% Of New U.S. Electric Capacity In Q1 Of 2013

According to a new industry report, the U.S. installed 723 MW of new solar capacity in the first quarter of this year, a 33% increase over the same quarter of 2012. What does the future hold?

EU Publishes Duty Rates On Chinese Solar Products

The European Commission reveals the duty rates it plans to impose on Chinese solar firms come Aug. 6. Which companies will face the highest tariffs?

EU Imposes Chinese Solar Tariffs: A Prod Rather Than A Slap?

The European Commission has decided to impose long-expected tariffs on solar products from China. However, the rate is lower than initially anticipated, with increases slated if trade talks break down. Will the program produce a deal or spark a trade war?

Submit comment