According to the Global Wind Energy Council (GWEC), average capacity factors for onshore wind turbines will increase by somewhere between 32% to 58% by 2050. (Photo: iStock)
During a decade of writing renewable risks, the AXIS renewable energy team has seen the cost of wind energy projects decline to such an extent that the industry is not just competitive, but in many cases, cheaper than traditional forms of energy. This decline in cost has been propelled by rapid improvements in technology, allowing wind turbines to increase in size, which in turn has reduced the cost of energy per megawatt (MW). While this has been a welcome boost for developers it also poses a challenge to the way that insurers underwrite projects.
Want to continue reading?
Become a Free PropertyCasualty360 Digital Reader
Your access to unlimited PropertyCasualty360 content isn’t changing.
Once you are an ALM digital member, you’ll receive:
- Breaking insurance news and analysis, on-site and via our newsletters and custom alerts
- Weekly Insurance Speak podcast featuring exclusive interviews with industry leaders
- Educational webcasts, white papers, and ebooks from industry thought leaders
- Critical converage of the employee benefits and financial advisory markets on our other ALM sites, BenefitsPRO and ThinkAdvisor
Already have an account? Sign In Now
© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.
