• Renewable energy production is becoming an increasing area of focus for many businesses
• While lithium battery storage systems for solar-generated power come with many upsides, they also bring with them some insurance and risk management considerations
• Lithium battery systems contain flammable materials, so it’s important they’re monitored and maintained correctly.

As renewable energy production becomes an increasing area of focus for many businesses, solar panels and wind energy systems have become prominent features on properties across the nation.

And while renewable energy brings many clear benefits, its power production is solely dependent on weather conditions. This can be a significant challenge if a business wants to rely on renewable power.

Using lithium battery power to complement renewable energy offers a solution, and these power storage systems are a popular choice for many property owners as the world transitions to a clean energy future.

But as with all energy systems, it’s important brokers and businesses understand the insurance considerations that come alongside battery power systems including how to manage the specific risks they can bring, explains QBE’s Chris Deugarde, Risk Engineer and Bob Algie, National Product Specialist, Property.

Lithium battery storage systems

‘Lithium batteries are the most common type of battery system used alongside solar and other renewable energy systems to power properties,’ says Deugarde.

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