Viewing that distributed PV system installations (mainly rooftop) in China have so far lagged behind schedule due to high risks, China's National Development and Reform Commission (NDRC) has arranged insurance companies to provide relevant insurance services to solve the problem, according to NDRC.
The National Energy Administration under NDRC has set a target total capacity of 8GWp for distributed PV systems to be installed around China in 2014 and 6GWp for ground-mounted PV power-generating stations, NDRC indicated. However, the total installation capacity of distributed PV systems in the first quarter was only 188MWp, 2.35% of the annual target, NDRC noted. This was mainly because banks were conservative about lending to investments in distributed PV systems due to risks in steady power generation, NDRC said.
To dissolve such risks, insurance companies are preparing to provide insurance specifically against risks incurred in distributed PV system investments.
The insurance services are expected to encourage banks to offer lending to boost installations, NDRC said.
