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RENEWABLE Energy storage insurance 

Here to help you with your renewable energy storage insurance

The ability to store renewable energy plays a critical role in the UK's transition to a low carbon future.

Long-life technologies – that allow thousands of repeat charges and discharges – are needed to store enough energy to match demand effectively. From 100kw to 100mw+, we can support your renewable energy project, including the following technologies:

  • battery energy storage systems
  • pumped hydroelectricity storage
  • pumped heat electricity storage
  • liquid air energy storage
  • hydrogen
  • flywheel
  • supercapacitor.

How our renewable energy storage insurance experts can help you

We understand the challenges your renewable energy project faces. By working with experts in the sector, we have developed an energy storage insurance product that will protect your project from risks throughout the design, construction and operational stages.

Renewable energy storage protection we can offer when building your project

We'll manage the risks associated with the construction stages of your project, as well as arranging the correct levels of cover to protect your business, including:

  • marine transit
  • contractors all risks
  • delay in start-up (advance loss of profit)
  • public liability
  • abortive planning cover.

Renewable energy storage insurance for day-to-day risks

Once your project is up and running, you'll need cover to protect against everyday operational risks, such as:

  • operational all risks (including damage, breakdown, loss of revenue)
  • public liability
  • environmental liability
  • terrorism
  • cyber attacks
  • decommissioning bonds
  • defective title/chancel.

Protecting your renewable energy investments

The UK’s renewable energy sector faces uncertainty and changes. From targeted net-zero emissions by 2050, to concerns around new technologies. Our renewable energy eBook explores how key organisations are working together to help the industry grow by ensuring long-term insurance protection.

Renewable energy project insurance

Planning a bigger project?
Whether this is your first project, or you are an experienced investor, getting insurance cover and mitigating the risks should be a priority during the planning process. We can advise on key areas of company risk to help reduce claims and business disruption.

Frequently asked questions

Q
Doesn’t my business insurance cover equipment?
A
Some business insurers provide basic material damage cover for equipment, but it rarely provides cover for loss of revenue or breakdown cover leaving you severely exposed.
Q
Why would I need business interruption insurance when I have a warranty?
A
Whilst a warranty will cover labour and parts that are faulty and need repairing or replacing, it will not cover the loss of income caused by the plant not running at its normal capacity should there be, for example, a delay in your plant being repaired.
Q
Are you able to provide cover under one policy through construction into operation of the plant?
A
Possibly, but this may depend on the current insurance market conditions. Insurers prefer to be involved as early as possible. Involving an insurer from the outset clearly benefits your project as:

1. they will understand your plant; and
2. you will be able to factor in loss mitigation controls they require from the outset. It is far more financially viable from a Capital Expenditure (CAPEX) perspective to do this than trying to retrofit which can be extremely costly.
Q
Can you help me understand and meet funders’ requirements and clauses?
A
Yes, we have over 15 years industry experience and understand funder requirements and can provide the advice and insurance programme conditions required.