Featured in Harvest Potential – 10-2023

Insuring against battery bother

It is extremely unlikely that a battery storage system will smoke, burn, or explode, despite a spate of recent reports. But what happens if something does go wrong? Do insurance companies pay out? Do premiums go up? How do insurers assess the issue?

By

Marian Willuhn

11 Oct 2023

Firefighters were called to a home in Germany in 2022 when a residential energy storage system caught fire. Although such incidents are a concern for owners, they are extremely rare. Even insurers do not consider home battery installation a significant fire risk. | Photos: Feuerwehr Bodnegg

A basement fire breaks out in a single-family home after a battery storage unit violently explodes. A solar storage battery burns down a house after malfunctioning. A battery storage unit explodes and causes more than €100,000 ($106,000) worth of damage. After numerous such incidents, safety tests are due on a number of battery storage systems.Headlines over …

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