Featured in Material change – 03-2024

Mitigate risk for manageable premiums

As debate continues to rage about the best ways to deal with battery fires, a risk management professional and an insurance underwriter discuss some golden rules for project developers.

By

pv magazine

11 Mar 2024

Lithium ion battery fires cause headaches for insurers. | Photo: Fire and Rescue NSW

Lithium ion battery energy storage systems (BESS’) have emerged as a dominant energy technology, with gigawatts of capacity installed annually. Analyst Wood Mackenzie has estimated the United States battery market alone could reach 75 GW by 2027. Utility scale grid connections and major technology companies including Google, Amazon, and Microsoft are driving demand as they …

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