![Placeholder Image](/content/dam/marsh/Imagery/marsh-2/headshot-768x768/Jane-Smith-320x320.jpg)
Jane Smith
Head of Energy and Power, Pacific
A critical challenge of the energy transition is addressing the intermittency of renewable energy generation. As we reduce our reliance on thermal baseload generation, how do we power our homes and businesses when the wind stops blowing or the sun isn’t shining? Renewable energy can be efficiently stored in utility-scale battery energy storage systems (BESS) allowing power to be released to the grid when required.
The increased storage capacity and rapidly declining costs of battery units are driving a global rise in demand.
However, with limited loss data and costly claims in a number of regions, insurance markets are factoring known and unknown BESS risks into their capacity, pricing, and policy terms. The primary risk considerations include:
Our global renewable energy team includes insurance advisers, risk engineers, brokers, claims advocates, project finance specialists, and former industry risk managers. Contact one of our BESS leaders for support.
Head of Energy and Power, Pacific
Head of Renewable Energy, Energy & Power Practice
This publication is not intended to be taken as advice regarding any individual situation and should not be relied upon as such. The information contained herein is based on sources we believe reliable, but we make no representation or warranty as to its accuracy. Marsh shall have no obligation to update this publication and shall have no liability to you or any other party arising out of this publication or any matter contained herein. Marsh makes no representation or warranty concerning the application of policy wordings or the financial condition or solvency of insurers or re-insurers. Marsh makes no assurances regarding the availability, cost, or terms of insurance coverage. LCPA 23/205