IRVINE, Calif. /California Newswire/ — PowerGuard Specialty Insurance Services announces that leading solar manufacturer, Talesun, has joined the growing number of global solar panel manufacturers to choose PowerGuard's unique PowerClip extended warranty protection.
Talesun Solar is an international manufacturer of high quality crystalline solar cells and modules. Located in Changshu, just 50 miles from Shanghai, Talesun operates the world's largest, fully automated production plant using state of the art technology. The company also has offices in Munich, Germany and San Jose, USA.
A specialty renewable energy program manager based in the United States, PowerGuard provides an innovative 25-year, non-cancellable quality and performance guarantee solution to back up a manufacturer's own warranty terms.
The insurance solution, conceived and underwritten by PowerGuard, offers back-to-back coverage for a 10-year limited product warranty. It also includes a 10-year warranty for 90 percent power performance and an additional 15-year warranty for 80 percent performance for panels sold by Talesun and covered by the warranty.
Through the use of insurance, PowerGuard is able to offer manufacturers the ability to provide the certainty their customers seek, as well as long-term stability for the industry.
Mike McMullen, managing principal of PowerGuard, shares, "PowerGuard is excited to see leading solar cell and module manufacturers around the world embracing the value that our unique and innovative risk-transfer product provides to them. PowerGuard will continue to support the development and success of the global renewable energy industry with unique, industry-leading products and services."
The PowerGuard solution is available globally. Its warranty terms are non-cancellable and will survive even insolvency and bankruptcy. Third-party rights to the policy are also offered, in case the original solar manufacturer goes out of business, backed by the capital strength of the insurance market.
About PowerGuard Specialty Insurance Services:
PowerGuard is a specialty renewable energy program manager specializing in the design and underwriting of unique insurance and risk management solutions for wind, solar and other alternative energy companies.
PowerGuard's PowerClip warranty product is the most comprehensive contractual liability coverage available to renewable energy manufacturers, project developers, power generation operators and the financial institutions who invest in them.
PowerGuard's PowerWrap Solar Project Guarantee Policy is a simple and straightforward insurance policy that guarantees the performance of the entire solar energy system – written on investment grade paper with an insurance company holding an AA- rating from Standard & Poor's. For more information please visit www.powerguardins.com .
Talesun is a premium manufacturer of solar modules and solar cells. The 200,000 square meter fully automated production facility of the company is located in China and is planned to reach a production capacity of 2 GW by the end of 2012. Talesun has subsidiaries in Shanghai, Munich and San Jose, USA.
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