Understanding and appreciating risk in battery storage projects

1st March 2023

What are the main concerns insurers have when looking at battery storage projects? Altelium’s energy insurance experts Ross Kiddie and Charley Grimston feature in Energy Storage News, discussing this important topic.

“Recent high-profile thermal runaway incidents in the US and Australia have brought to the fore the need for understanding and appreciation of the risks and the role insurers can play”, Ross explains.

Ross summarises the main concerns insurers have when assessing battery storage projects:

  • Design spacing between containers or cabinets.
  • CAT (catastrophe) risks
  • Tidal and River flood
  • Tornada/Hurricane
  • Design conditions
  • Quality of manufacturing
  • Fire protection
  • Fire service response plan

To read the full article please go to https://www.energy-storage.news/battery-storage-insurance-costs-are-falling-as-understanding-of-risks-grows/