Important Components of Solar Warranty
Understanding the warranty offered by a solar installation company is crucial in choosing the right Solar Installers.
Warranty is one of the most important things you need to take a closer look at when comparing proposals.
Like a spare tire, you don’t think of warranties until something happens and you really, really need it.
So, before any of the problems occur, make sure you dig deeper into the Warranty Clause. The fine prints and the details can sometimes be confusing but needs to be carefully examined.
After all, understanding the long-term financial impact of your warranty will help you be prepared for what lies ahead.
There are 2 types of warranties that the solar installers offer. Product Warranty and Performance Warranty.
Product Warranty covers the integrity of the panel. Any defect in materials, manufacturing and premature wear and tear is covered by this warranty. Most panel manufacturers warrant that their panels will not fail for at least 10-12 years and some even extend to 25 years. Remember, the longer the warranty period is, the more advantageous it is to you as a customer.
Performance Warranty on the other hand, this warranty covers the degradation rate of power output the panel can provide over time. A common practice in the solar energy industry is guaranteeing that the panels will produce electricity at 80-90% of their power output ratings. This means that the manufacturer guarantees that the panel will not lose 10-20% of their power output capacity over the 25-year period.
Knowing exactly what’s covered and for how long the warranty lasts, is very important.
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