Cool days + high levels of solar radiation = fluctuations in market electricity prices (and negatively impacted revenue).
Weather risk management company MSI GuaranteedWeather partnered with Looop Inc. to create an insurance product that allows for protection against the financial risks that come when cool but sunny days come into play for an electricity provider whose source is PV solar. The innovative deal offers payouts based on independent third-party weather data on temperature and solar radiation measurements over a particular period of time.