Insurance companies are now looking into providing security for the ever growing renewables sector, after all, security is what investors into the industry are looking for when it comes to protecting their large investments.
Global investment in renewables fell by 14% last year, but the percentage of electricity based renewable projects grew according to statistics. Renewables accounted for 8.5% of the global electricity mix up, with $2.8 billion being invested, with figures like that, investment insurance is a given for most.
Predictions from industry experts expects to see a 50% increase in renewable energy investment by the end of this decade, which they say is likely to produce more than a doubling of insurance spending in six of the world’s leading renewable energy markets alone. Annual expenditure on risk management could reach $1.5 billion by 2020.
All of this activity has positive connotations for the continued speedy growth of the renewables sector.