Solar power is one way that homeowners can have more control over their energy future while reducing carbon emissions, and improving air quality. Solar Photovoltaic (PV) systems can help reduce your energy bills on average $1,750 per year, but they can also have an impact on your insurance so make sure you understand the implications on your policy.

Through the SolarHomes rebate, Efficiency Nova Scotia offers incentives to make solar electricity more affordable for homeowners. The SolarHomes program helps Nova Scotians harness the sun’s energy by offering a rebate on approved solar systems.

 You will want to protect your investment. Get insurance coverage for the solar panels and your home. Talk to your broker or agent before you start the process to obtain the right insurance coverage, and to ensure the number of kilowatts you are installing are insurable.

As a new program, not all insurance companies offer adequate coverage so you should give your broker time to shop around and provide them with your solar panel proposal.

What you should know:

Solar panels can add significant value to your property, which has additional insurance implications. Most home insurance policies require you to report any renovations or upgrades that impact the value of your property. Speak to your broker or agent before installation begins to make sure you are adequately protected if you suffer loss or damage to your home.

If you choose to work with a solar developer who can install and maintain your solar panels, make sure they have a minimum of $1,000,000 of commercial general liability insurance to cover any problems that might arise.

Documentation to Share with Your Broker or Agent:

When you apply for any solar project, be ready to share documents that verify the safety of construction and to establish costs, such as:

• Solar Proposal
• Contract if you will be part of the net metering
• Your contractor’s commercial general liability policy#

• An invoice or purchase agreement outlining the total cost (including taxes) of panels, the installation of panels and the number of kilowatts generated (if applicable)

We would be happy to discuss any solar plans with you and help you navigate the required insurance going forward.