What Are the General Rates for Photovoltaic Insurance? How Much Will It Cost in 2025?

Introduction: With the advancement of the “dual carbon” goals, the photovoltaic industry is experiencing rapid development. However, due to significant project investments and long cycles, it faces multiple risks, including natural disasters, equipment failures, and accidents. Photovoltaic insurance has become a crucial barrier to ensure the stable operation of this industry. This article focuses on key questions such as “How to insure photovoltaic projects?” and “How is the insurance cost for 2025 calculated?”, providing a comprehensive guide for insuring photovoltaic projects and planning costs to mitigate potential risks.

1. What Are the General Rates for Photovoltaic Insurance?

The rates for photovoltaic insurance are not fixed and typically fluctuate between 0.1% and 2%. The specific rate depends on several factors:

• Project Scale: Large photovoltaic power stations involve many devices, cover extensive areas, and have a high overall value, leading to concentrated risks. Therefore, their rates are usually at the higher end of the range, around 0.5% to 2%. In contrast, small distributed photovoltaic projects, such as residential rooftop installations, have lower risks and may have rates as low as 0.1% to 0.3%.
• Geographical Location: Projects located in areas prone to natural disasters, such as typhoons, heavy rains, or earthquakes, have a higher likelihood of suffering losses, resulting in increased rates. Conversely, projects in stable climates with fewer disasters will have relatively lower rates. For example, photovoltaic insurance rates in coastal regions frequently hit by typhoons may be 0.2% to 0.5% higher than those in inland areas.
• Technology Type: The application of new technologies and equipment, which require market validation for performance stability and reliability, is assessed to have higher risks by insurance companies, leading to increased rates. Conversely, mature technologies and equipment that have stood the test of time are evaluated as lower risk, resulting in lower rates.
• Risk Assessment: Insurance companies conduct a comprehensive assessment of project operation management levels and potential safety hazards in the surrounding environment. Projects with standardized operations and safe surroundings typically enjoy more favorable rates; however, if there are operational disarray or hazards like the accumulation of flammable materials nearby, rates will increase.

2. How Much Will Photovoltaic Insurance Cost in 2025?

Calculating based on the insured amount: Assume that the value of a photovoltaic station’s equipment and related assets is 8 million yuan. If the rate is 0.2%, the annual insurance cost would be 8 million × 0.2% = 16,000 yuan; if the rate is 0.5%, the annual premium would be 8 million × 0.5% = 40,000 yuan.

Common Employer and Group Accident Insurance Costs:

• PACIFIC Employer Insurance (Standard Version):
  • 300,000 yuan coverage: 600 yuan/year
  • 500,000 yuan coverage: 900 yuan/year
  • 800,000 yuan coverage: 1,300 yuan/year
  • 1 million yuan coverage: 1,500 yuan/year
  • 1.2 million yuan coverage: 1,900 yuan/year
• PING AN Photovoltaic Group Accident Insurance 2025 Edition:
  • Quarterly premium (standard level 10, 5%):
    • 300,000 yuan: 228 yuan
    • 500,000 yuan: 324 yuan
    • 800,000 yuan: 460 yuan
    • 1 million yuan: 560 yuan
    • 1.2 million yuan: 660 yuan
  • Half-year premium (standard level 10, 10%):
    • 300,000 yuan: 429 yuan
    • 500,000 yuan: 611 yuan
    • 800,000 yuan: 858 yuan
    • 1 million yuan: 1,001 yuan
    • 1.2 million yuan: 1,248 yuan
  • Annual premium (standard level 10, 5%):
    • 300,000 yuan: 570 yuan
    • 500,000 yuan: 810 yuan
    • 800,000 yuan: 1,150 yuan
    • 1 million yuan: 1,400 yuan
    • 1.2 million yuan: 1,650 yuan
• YANGGUANG Property Insurance Group Accident Insurance (Plan A):
  • Plan 1: 570 yuan/year
  • Plan 2: 850 yuan/year
  • Plan 3: 1,255 yuan/year
  • Plan 4: 1,415 yuan/year
• Property Insurance Related Costs: For example, the PACIFIC Photovoltaic All-Risks Insurance is categorized into typhoon and non-typhoon regions. The all-risks insurance includes mandatory theft coverage at a rate of 0.15%, based on either “book value” or “contract price”; optional self-ignition coverage at a rate of 0.01%; and optional third-party liability insurance for 50,000 yuan at a rate of 0.06%. Assuming a photovoltaic project in a non-typhoon region has a book value of 5 million yuan and only purchases the all-risks insurance with theft and self-ignition coverage, the annual premium would be 5 million × (0.15% + 0.01%) = 8,000 yuan. If third-party liability insurance is added, the premium increases by 50,000 × 0.06% = 30 yuan, resulting in a total premium of 8,030 yuan.

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