Does State Farm Cover Solar Panels

In new jersey homes with solar panels can sell for 9 9 more than homes without solar energy systems.

Does state farm cover solar panels. The majority of these massive arrays are owned by utilities and are merely another asset for the utility to supply power to properties in their coverage area. Residential solar energy installations are typically covered as part of a standard homeowners policy according the u s. Here solar panels are considered as fixed attachments alongside things like decks porches and attached garages. Check with your agent to learn whether your policy provides.

In other terms we can say that for each 1 kw of solar panels you need 100 sqft of an area on. Therefore these are covered under the home insurance policy and you don t need any additional premium or a separate policy. When we use thin film technology a 1mw plant will require an average of 4 5 to 5 acres of land. One insurance company that offers solar panels insurance cover is state farm insurance.

Normal wear and tear. A solar farm sometimes referred to as a photovoltaic power station is typically a large decentralized solar array supplying electricity to the power grid. However since solar is worth thousands or even tens of thousands of dollars and can add around 10 000 to 30 000 of value to your home we might recommend raising your coverage limit to cover the cost of your home with the solar panel system. For example for a 1 mw solar power plant installation the solar farm land requirements would be around 4 acres when using a crystalline technology.

That is a profit of 32 281 for the median valued home in that state. In most cases there is no need to get additional insurance to cover your solar panel system. State farm won t insure my solar panels. Being a piece of electrical equipment solar panels are subject to manufacturer s warranty and certainly not by your home insurance.

According to my electric bills during the last year i ve generated about 180 of my actual electric usage with the excess bought back by my commercial power provider via net metering. I built a new home last year that includes rooftop solar power which i intentionally oversized to accommodate recharging a possible electric vehicle in the future.