Despite the problems that have emerged recently, photovoltaic systems represent an investment that many households in Cyprus have chosen with the aim of saving energy while simultaneously contributing to environmental protection.
Nevertheless, like any investment we make, photovoltaic systems face specific risks that can threaten their operation and consequently the return on your investment.
In this article, we examine the five most significant risks facing residential photovoltaic installations in our country and how you can protect yourself.
1. Extreme Weather Phenomena
Our country, despite its Mediterranean climate, is not immune to extreme weather phenomena. Strong winds, storms, and floods, which in recent years have been appearing more frequently due to climate change, can cause significant damage to photovoltaic panels.
Typhoons, tornadoes, and storms can detach panels from their mounts or destroy them completely. Additionally, hail can cause cracks and microfractures that significantly reduce their efficiency.
2. Lightning and Power Surges
Lightning represents one of the most dangerous hazards for photovoltaic systems. A lightning strike near or directly on the installation can cause catastrophic damage not only to the panels but also to the inverter and the rest of the home’s electrical system.
Power surges caused by lightning can destroy even the entire system, leaving you with an enormous replacement cost.
3. Fires
Another significant risk for photovoltaic systems is fire. Whether originating from the photovoltaic system itself due to a short circuit, or from external sources such as forest fires, which unfortunately are common in Cyprus during the summer months, they constitute a serious threat.
Smoke from fires can also cover panels with soot, reducing their efficiency. Furthermore, the high temperatures during a fire can cause irreparable damage to the panels and the electronic components of the system.
4. Theft and Attempted Theft
Unfortunately, due to the increasing value of photovoltaic systems, they have become targets for theft and vandalism. System components, such as inverters and the panels themselves, can be removed and resold.
Even attempted theft can cause significant damage to the installation.
These phenomena are particularly common in remote areas or in residences that are not permanently occupied, such as vacation homes.
5. Earthquakes and Natural Disasters
Cyprus is located in a seismic zone, and although major earthquakes are rare, even lower intensity seismic vibrations can cause damage to the support bases of photovoltaic panels, leading to displacements or even their collapse. Additionally, falling trees or branches during natural disasters can cause direct damage to the panels.
Protect Your Investment
Seeing these risks, it becomes clear how important it is to protect your investment.
Home Photovoltaic Installations Insurance from SoEasy Insurance offers comprehensive coverage for all the above risks, ensuring that you won’t face large replacement or repair expenses.
Additionally, the insurance program includes coverage for production loss, compensating you for the income you lose during the period your system is not operating due to damage from one of the insured risks. Thus, you secure not only your investment but also the income it generates.
In a world where unpredictable risks are always present, insuring your photovoltaics is a smart protective move that offers you peace of mind and security.
You can learn more about Home Photovoltaic Installations Insurance at the link below: https://soeasyinsurance.com.cy/home-photovoltaic-installations/
Contact us by phone at 7777 4567, or via email at info@soeasyinsurance.com.cy and our specialized staff, as well as our insurance intermediaries, are ready to offer you appropriate guidance to protect your investment.