The second high-profile battery storage failure due to a faulty sprinkler system could mark the beginnings of exclusions from insurance policies if certain providers develop a negative track record, a source said.

The faulty activation of sprinkler system forced the decommissioning of the LG batteries which were eventually stolen from Terra-Gen’s Valley Center BESS in California, the company told Energy-Storage.news.

We hear from two battery storage insurance industry sources about how they view the technology and the main risks they assess when designing policies.

We continue looking back over 2022’s top content on Energy-Storage.news with our pick of the Guest Blogs published in the past 12 months.

Any new energy technology asset class comes with risk that needs to be recognised, write Liam McEneaney and Daniel Stevens at AXIS Insurance.

European energy storage is still held back by regulation but Greece is a bit further ahead, specialist battery insurance group Altelium told Energy-Storage.news while discussing take-up of its new product.

Specialist insurer Altelium has launched a new ‘all risk’ battery energy storage system (BESS) insurance solution, in partnership with global insurer and reinsurer MS Amlin.

Insurance is a cornerstone of de-risking financing and investment into energy storage

The new edition of PV Tech Power is now available to download.

News in brief from around the world in energy storage, this time focusing on long-duration.