AON
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Solar
Best Practices for Mitigating Hail Damage to Solar Projects
Mitigating against the risk of hail for solar projects is both extremely complicated and more straightforward than you may think. Natural catastrophes (NatCat), particularly hail, pose a significant risk for solar projects and can lead to severe damage with cost impacts for projects and insurers. In this article, we look at the risk that hail […]
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O&M
Forced Outage Parametric Insurance Solutions for CCGTs
Combined cycle gas turbine (CCGT) power plants started appearing on a larger scale in the late 1990s and have since then been a very efficient supplier of baseload and lately peaking capacity to the power grids. The U.S. Energy Information Administration (EIA) recently reported that natural gas–fired capacity additions are increasing in the U.S. again […]
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Renewables
Emerging Risks in Renewable Energy: A Brief Overview of Solar, Wind, BESS, and Hydro Trends in Latin America
Renewable energy technologies, including solar, wind, hydro, and battery energy storage systems (BESS), are at the forefront of the global energy transition. The U.S. and Latin America (LATAM) are witnessing significant advancements in these technologies, driven by geopolitical and economic trends. The International Energy Agency (IEA) projects a growth of electricity demand from 1,295 TWh […]
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Solar
Effects of Evolving NatCat Risks on Reliability and Insurability of Renewable Assets
News on extreme weather events in the U.S. report an increase in both frequency and size over the last couple of years, including thunderstorms, tornadoes, convective storms, flash floods, hurricanes, and winter storms. This has a massive impact on a renewable energy asset’s reliability and insurability; there have even been cases where lenders won’t approve […]