Leading climate insurance provider to provide affordable tax credit insurance solutions, supporting growth of distributed generation clean energy projects.

NEW YORK: #InsuranceforourClimate--kWh Analytics, a leading Climate Insurance provider, today announced it has been awarded $500,000 from InnSure's Insurance Innovation Prize supported by the New York State Energy Research and Development Authority (NYSERDA). The funding will support the development of a tax credit insurance product tailored specifically for small-scale distributed generation (DG) renewable energy projects, addressing a critical market gap in renewable energy financing.

The new insurance product will enable projects under 20 MW to effectively monetize transferable tax credits introduced by the Inflation Reduction Act (IRA). While the IRA made tax credits transferable, in part to promote distributed generation, traditional tax credit insurance solutions require extensive and expensive due diligence from highly specialized and skilled professionals that smaller projects cannot support. This creates a substantial barrier for smaller renewable energy projects seeking to participate in the tax credit market.

"The transition to clean energy requires innovative financial solutions that work for projects of all sizes," said Jason Kaminsky, CEO of kWh Analytics. "This award will enable us to leverage our extensive data, insurance expertise, and technological advantage to open new financing pathways for smaller renewable energy projects, supporting the deployment of clean energy across the country."

kWh Analytics will apply its data-driven approach, powered by its AI-enabled underwriting assessments and proprietary database of over 300,000 renewable energy projects, to streamline and standardize the due diligence process for tax credit insurance. With a proven track record of attracting top-tier insurance capacity to renewable energy markets and successfully deploying innovative products, kWh Analytics has established itself as a trusted channel for insurers looking to deploy their balance sheet in the rapidly growing renewable energy segment with over $30 billion in assets insured to date..

The new tax credit insurance product is expected to launch within 18 months, supporting the growth of distributed generation solar and battery storage projects in New York and nationwide.

About kWh Analytics

kWh Analytics, a leading Climate Insurance provider, underwrites property insurance and revenue firming products for renewable energy assets. Our proprietary database of 300,000+ zero-carbon projects and $100B in loss data fuels advanced modeling and insights, enabling precise underwriting decisions. This data-driven approach incorporates resiliency measures in risk evaluation, promoting sustainable practices in the renewable energy sector.

Trusted by 5 of the top 10 global (re)insurance carriers, we've insured over $30 billion in assets to date. Our tailored solutions further our mission of providing best-in-class Insurance for our Climate. Recognized by InsuranceERM Climate and Sustainability Awards, kWh Analytics continues to pioneer in the renewable energy insurance sector.

Learn more at https://www.kwhanalytics.com/ or on LinkedIn.

Fonte: Business Wire