Update From The Field June 2024: Talks about insurance for BESS projects.

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Make the most of our analysis concerning key data and trends in the energy storage industry worldwide

Description

TABLE OF CONTENTS


Executive summary (4)

1. New regulations and initiatives discussed this month (6)

1.1. Europe (6)

1.2. North America (7)

2. Project updates and announcements (8)

2.1. Overview of the 2023 and 2024 markets for utility-scale energy storage projects (8)

2.2. Projects announced or contracted this month (9)

2.3. Projects commissioned this month (10)

2.4. Tenders this month (12)

3. Focus of the month: BESS Insurance: a blooming market that is set to deal with booming risks (14)

3.1. Context and Risks for BESS (14)

3.1.1. Main risks for BESS (15)

3.2. What to look out for while insuring your BESS (16)

3.2.1. Types of insurance (16)

3.2.1.1. Main insurance categories (16)

3.2.1.2. Specific insurances (17)

3.2.2. Project insurance for BESS operation (18)

3.2.2.1. Underwriters and fire safety (18)

3.2.3. Business Interruption and recovery of lost revenues (20)

3.2.4. Checklist: Solutions to negotiate and lower your premiums (21)

TABLE OF FIGURES

Figure 1: Utility-scale energy storage projects announced/contracted and commissioned in 2023 and 2024 (ongoing) (8)

Figure 2. BESS Fire Occurences (14)

Figure 3. Li-ion battery fire origin patterns (15)

Figure 4. Insurance solution for system suppliers (17)

Figure 5 Example of a layout compliant to local regulations (19)