CGU sponsors Collingwood Women’s Football Team
October 12, 2016
"Nearly 14 per cent of Australia’s electricity came from renewable sources in 2014, enough to power 4.5 million average homes for a year.” (Clean Energy Australia Report, 2014)
Solar farming provides a great opportunity for Australian farmers to increase the value out of their land, while supporting Australia’s demand for renewable energy sources.
With demand for renewable energy in Australia set to continue rising to accommodate an increasing population and to meet the Federal Government’s renewable energy targets, solar energy production on farmland is becoming increasingly attractive.
Australian farmers are well-placed to lead the way in renewable energy production because they may have some open, undeveloped or unproductive land which provides an opportunity to explore the development of renewable-energy technologies.
A range of renewable energy production options are available to farmers and one of the most viable and commonly used on Australian farms is Solar Photovoltaic Power.
Solar photovoltaic power (PV) involves the collection of solar ultraviolet (UV) radiation from the sun. Solar panels and other types of PV systems are composed of layers of conductive material – usually silicon sandwiched between sheets of tempered glass. When light from the sun shines on this material, the material absorbs energy from the light and creates an electrical field.
Are your customers considering solar energy production? Make sure their investments are protected.
There are many benefits in farmers using their land to produce solar energy, including:
However, there are also additional risks associated with the adoption of this new technology and it’s important that your customers are aware of them, to ensure they have appropriate cover to protect their investment in solar.
Some of the risks your customers may be exposed to are:
Small Farm Operations
Large Farm Operations
Loss of income can be protected against by taking out CGU’s Business Interruption insurance.
To ensure your customer has the right cover against these risks, and for more information about the insurance implications of renewable energy production, please contact your CGU Business Relationship Manager or visit cgu.com.au