Battery energy storage market maturity and the empowering role of insurance
The very large number of insurance enquiries Altelium is seeing for battery projects suggest that the battery asset market has entered the ‘early majority’ stage on the classic S curve of new technology adoption.
Altelium’s co-founder, Charley Grimston, has deep experience of the renewable energy market, and he sees strong comparisons between the onshore wind turbine and the battery energy storage markets, in terms of their paths to maturity and emerging issues.
In an exclusive feature for Energy Storage News, Charley describes the similar challenges of the wind turbine market as it grew and matured, such as choice or stability of manufacturers, choice of site, operational issues or revenue streams, and battery energy storage market.
Many of these challenges were resolved or mitigated with the help of insurance, and the article describes in particular the role of insured warranties in giving confidence to support investment and market growth for wind turbines, and now battery energy assets.
To read the full article please click here: Comparing the path to maturity and insurance’s role in the battery storage and wind turbine markets
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