Energetic Insurance has announced the first solar energy project to utilize its SCOR-backed EneRate Credit Cover®. The 800-kilowatt carport project, developed by CalCom Energy and financed by Live Oak Bank, provides electricity to a retail center in California. This innovative insurance product mitigates default risk for businesses without public credit ratings that enter long-term power purchase agreements, unlocking new financing opportunities for commercial and community solar projects.
James Bowen, CEO of Energetic Insurance, highlighted that this milestone will help small and medium businesses access solar savings typically reserved for larger companies.
Learn more about this milestone project here.
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