All Power Systems and Synthesis has developed a new solar savings insurance with a renowned global reinsure provider. Jay Naidoo, CEO, explains, “We provide independent, clean electricity for businesses in two ways: with All Power, we install solar rooftop systems for commercial clients who want to own their own sustainable electricity supplies. With Synthesis, we offer a complete financial solution with zero capital input from the client, and since Synthesis effectively owns these projects, we agree a guaranteed monthly fee for electricity, with zero risk.”
“Along with an international re-insurer, we have developed a unique Solar Savings insurance product to underwrite savings guarantees for both of our business models.” Simply put: with Solar Savings insurance, All Power’s clients can now insure their own solar plants against any loss of earnings. And Synthesis can give their clients the assurance that their service agreements are underwritten by a third-party, and their projected savings are guaranteed.
Naidoo’s latest client, Richard Bennet, Marketing Director of iProp owners of The Hydro Stellenbosch, said “As investors in Solar Rooftop Technology, the development and inclusion of an All-Risk Solar Insurance product such as this has assisted us by de-risking our investment quite considerably. Not only do we reap the great returns which solar power offers, we also have the assurance that the forecasted solar energy savings are guaranteed.”
Naidoo is quick to point out that this new policy is all-risk. “No matter what the adverse conditions are, be they weather-related, accidental or wear and tear; the savings, and or, income that your solar rooftop system was meant to generate over time, you will receive, guaranteed.” Notwithstanding, the endless variances currently prevalent in the energy business, providing an underwritten business guarantee is prudent and far-sighted.
