Solar Decommissioning Bond
What is a Solar Decommissioning Bond?
A Solar Decommissioning Bond is a type of Commercial bond that ensures that solar decommissioning contractors comply with contract terms, federal, state, and local regulations, protecting clients from any damages or improper execution of the solar decommissioning project.
Protects clients from financial loss due to the misconduct or negligence of solar decommissioning contractors, ensuring the proper completion of solar decommissioning projects and restoration of the land to its original condition or an agreed-upon state.
Required by government agencies or private clients to ensure responsible management and compliance with contract terms and regulations by solar decommissioning contractors, and to protect the environment and local communities
Applicant’s personal or business information, credit history, bond amount (determined by the contract requirements), and solar decommissioning contract details.
Based on credit history and bond amount, usually 1-5% of the bond amount.
