Power and Renewable Energy
21 June 2021
Electrical Power can be generated from many sources. Historically it would be generated by a turbine and generator assembly that is fueled by diesel or gas or steam produced by burning coal. However, as these fossil fuels become less accepted and prevalent, then power generation needs to turn to Renewables. This comes with its own challenges, least of which is the requirement for energy storage such that intermittent power supply is avoided.
The status quo has changed in recent times, and is accelerating, with the advent of substantial renewable power being 'plugged' into the grid which tends to operate in synchronicity with mother nature thus being intermittent.
In this article, Omar Mostafa, Executive Adjuster - Natural Resources and Engineering and Andrew Hodkinson, Regional Head - Australia & New Zealand, Executive Adjuster - Natural Resources and Engineering of Charles Taylor Adjusting explore how traditional power generation and distribution systems now deal with an ever increasing renewable power input, and what this may look like in respect of future insurance claims. Areas of focus include:
- Thermal Power Plants
- How renewables interface with existing networks
- Likely claims and emerging risks