Solar Panel Manufacturers Stepping Up With 25-Year Product Warranties
By Kristy Hoare on in Solar Power News In New Zealand
Until recently standard product warranties on solar panels in New Zealand lasted for 10 years. But with a competitive marketplace, many companies are now offering a 25-year product warranty on the panels. That’s a remarkable increase of time spent under warranty.
Almost 100% of solar panels already come with a 25-year performance warranty - which guarantees a certain amount of power from the panels over a 25 year period. But product warranties are different. This warranty protects against workmanship defects, faulty equipment and early deterioration.
Manufacturers that now offer 25-year warranties include:
- LG
- SunPower
- REC (standard warranty is 20 years, but bumped up to a 25 year warranty if installed by a certified REC installer)
- Hyundai
- Q Cells
- Solarwatt (30 years)
When purchasing a solar power system, we recommend to double-check with the solar installation company to ensure the system has the latest and greatest panels, and comes with a 25-year warranty, as some panels will not fall into the 25 year warranty category.
What I believe we are seeing here (with the giant step up in product warranties) are manufacturers more confident than ever in their products and their performance. These big brands wouldn’t offer substantial product warranties if they couldn’t meet their obligations.
Occasionally we are asked what will happen if a solar power company goes out of business within the 25 year warranty time period? Firstly, warranties needn’t be a concern if excellent quality panels from a reputable brand have been purchased. Many of the big name solar-panel manufacturers are backed by third-party insurers; warranties will be upheld even if the manufacturer goes out of business. This is another important and well known fact within the solar industry, your solar installer should know this - so remember to ask.
We have seen big name brands pull out all the stops doubling their original product warranties to entice customers in a burgeoning market, and it’s likely other brands (only offering 10-year product warranties) will soon have to extend their warranties to keep up with the competition. The market is heating up, so expect to see more discounts and money saving deals in the near future.