What about warranties and guarantees?
At Autarco we believe intensely in the benefits of our total solution approach with insured performance guarantees. A performance guarantee that financially compensates when the system is underperforming is far more meaningful to rooftop solar owners than the solar panel component warranties, but any system performance guarantee we offer is always in addition to all the industry standard solar panel warranties, including:
- 10 year product warranty
- 25 or 30 year power output guarantee
Our agreements with Chint have the following statements;
“Chint declares hereby that all PV modules produced for Autarco Group BV or any of its subsidiaries are covered by the Chint “Limited Product Warranty” and 25 year “Limited Peak Power Warranty” terms on which you find enclosed.
The above means that, in case Autarco Group BV is no longer actively trading, any warranty claim against a faulty PV module manufactured by Chint for Autarco Group BV or any of its subsidiaries will be honoured by Chint as per the “Limited Product Warranty” and 25 year “Limited Peak Power Warranty” terms provided that it is a proven product defect.”
The solar panel Warranties are also fully insured by Munich Re or Lloyd’s of London.
The Dealer and end customer in effect receive four different levels of security on the warranties:
Autarco: Primary and EU based cover
Chint: Underwrite Autarco product warranty
Product Warranty Insurer: Underwrite Chint product warranty
kWh Guarantee Insurer: Underwrite Autarco kWh Guarantee
Our manufacturing approach means Autarco will never be listed in the Bloomberg Module Tier 1 list ourselves as one of the requirements is to own the factory. However, the Autarco MHE Series module is at least as good as the Astronergy modules on the list. Bankability is a measure of a banks willingness to finance a project and we have never experienced a bank unwilling to finance an Autarco project, conversely, our partners have typically been able to lend at lower rates thanks to the security provided by our insured performance guarantees.
In short, yes, Autarco modules are bankable.