Energy storage equipment insurance premium

Why do you need warranty insurance for your energy storage system?

Our warranty insurance solutions help to secure your sustainable business in the long run. Energy storage systems often involve the complex integration of multiple high-tech components. These are all prone to failure and malfunction, particularly over long periods of ten years and more.

How long do energy storage systems last?

Energy storage systems often involve the complex integration of multiple high-tech components. These are all prone to failure and malfunction, particularly over long periods of ten years and more. As a manufacturer and system integrator you have to provide your customers with warranties.

Why do we need reliable energy storage systems?

Renewables like wind and solar energy are intermittent by nature. To successfully master the energy transition, reliable energy storage systems are a must to provide the necessary supply stability.

What technology risks are associated with energy storage systems?

Technology Risks Lithium-ion batteries remain the most widespread technology used in energy storage systems, but energy storage systems also use hydrogen, compressed air, and other battery technologies. Project finance lenders view all of these newer technologies as having increased risk due to a lack of historical data.

What are some examples of energy storage systems?

For example, capacity per unit is not standardised, and is growing on the back of commercial pressures; gravity energy storage systems are now part of the mix, as well as lithium-ion and vanadium technology, and multiple use cases such as grid balancing and stability, or reactive power and load shifting, are common.

Why do energy storage projects need project financing?

The rapid growth in the energy storage market is similarly driving demand for project financing. The general principles of project finance that apply to the financing of solar and wind projects also apply to energy storage projects.