Launch of New Insurance to Accelerate Adoption of Perovskite Solar Cells

Sompo Japan Insurance Inc. (President and CEO: Koji Ishikawa, hereinafter "Sompo Japan") has developed and launched a new insurance product (hereinafter "this insurance") to support the social implementation of "perovskite solar cells," a next-generation domestic energy technology.

This initiative aims to contribute to Japan's energy self-sufficiency and the realization of a decarbonized society by mitigating risks associated with manufacturers offering performance warranties for their products.

This insurance has been adopted by Sekisui Solar Film Co., Ltd. (President and CEO: Toru Uwazuki), a subsidiary of Sekisui Chemical Co., Ltd. (President and CEO: Yusuke Shimizu), a company leading the commercialization and social deployment of perovskite solar cells.

※ Perovskite solar cells are a next-generation solar technology developed in Japan, using compounds with a distinctive crystalline structure known as "perovskite" as the power-generating layer. The film-type perovskite solar cells developed by Sekisui Solar Film are significantly thinner, lighter, and flexible compared to conventional silicon-based solar cells. This innovation enables installation and power generation on surfaces previously unsuitable due to load-bearing limitations, such as building façades, factory rooftops, windows, and curved surfaces.

1. Background and Objectives

Globally, the adoption of renewable energy is accelerating to achieve a decarbonized society. In Japan, securing stable clean energy and improving energy self-sufficiency are urgent priorities.

In this context, perovskite solar cells are being rapidly promoted for social implementation under government leadership, as Japan holds a significant global share in the production of iodine, a key raw material, positioning the technology as a domestically developed solution to reduce reliance on foreign sources.

However, innovative new technologies generally lack sufficient data for risk assessment, creating challenges for both users and manufacturers who face inherent risks.

To enable users to adopt new technologies with confidence while reducing manufacturers' warranty risks, Sompo Japan has developed this insurance in collaboration with Sekisui Chemical Co., Ltd. and Sekisui Solar Film Co., Ltd., using its proprietary risk evaluation methodology.

2. Overview of the Insurance

For the widespread adoption of perovskite solar cells, it is essential to create an environment where users can confidently adopt and continue using the technology. This insurance comprehensively covers the manufacturer's financial losses incurred if warranty actions are required due to performance issues during product operation.

3. Future Outlook

Sompo Japan will support manufacturers' warranty systems through this insurance, enabling businesses and local governments to confidently select and invest in innovative technologies like perovskite solar cells, thereby fully supporting their social implementation. Furthermore, Sompo Japan will maximize the insights gained from offering this insurance to continuously develop more advanced insurance products and services that respond to future technological innovations and diverse installation needs. Through these initiatives, Sompo Japan will actively contribute to promoting domestically developed clean energy, enhancing Japan's energy self-sufficiency, realizing SOMPO's purpose of creating a future filled with "safety, security, and health," and building a sustainable society.

4. Stakeholder Comments

<Toru Uwazuki, President and CEO, Sekisui Solar Film Co., Ltd.>

Our film-type perovskite solar cells, which are "thin, lightweight, and flexible," represent a new technology capable of generating renewable energy in locations where conventional solar panels could not be installed. We deeply appreciate Sompo Japan for recognizing this potential and making this insurance a reality.

To address energy challenges both domestically and internationally, we are currently constructing a mass-production facility in Sakai City, Osaka Prefecture, to accelerate deployment. Moving forward, we will continue to expand adoption while delivering peace of mind to our customers in partnership with Sompo Japan.

5. Inquiries Regarding This Matter

① For customer inquiries:

Sompo Japan, Financial Line Insurance Business Department, Defects Warranty and Cost-Benefit Group

Customer inquiry form