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To be able to install and use PVsyst's updates you will have to purchase an update support.
During this period it allows you to install updates which will include:
•new features
•issue fixes
•PV component database updates
Yes of course: your license is for life. However if you do not buy an extension of update support, running PVsyst's updates will not work (demo mode).
Just buy an extension and synchronize your license: this is explained here.