Insurance Instruments in Estimating the Cost Energy Assets with Renewable Energy Sources

Due to the increasing electricity consumption in the world, rapid spread of renewable energy sources (RES) and the loss of basic generation capacities the electric networks will become vulnerable. There is stated a threat of periodic blackouts, which will be impossible to control. There has been carried out the study aimed to assess the risks of projects of transition to the consumption of renewable electricity. The general scientific methods of comparative analysis, collection and study of information sources, statistical data analysis and synthesis were used. The brainstorm method was used to identify risks. The relevance and directedness of the modern energy industry development has been proved, taking into account the global environmental trends. A SWOT analysis of the distribution and use of renewable energy was carried out. The damage and probability of the main risks of projects of transition to the consumption of renewable electricity are identified and assessed. There have been proposed the methods of risk management of projects of transition to the consumption of renewable electricity. A complete transition to renewable electricity consumption is found impossible for Russia due to high natural, technological, investment, legal and business risks. There is expected a high probability of technological risks affecting the construction of renewable energy generating structures and their connection to the energy system. It has been inferred that for the country’s energy system, its high level of reliability and the ability to switch to backup power sources at any time are important

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Risk identification in projects of transition to renewable electricity consumption

Пупенцова

Prokofiev

Lukyanov

2021

Vestnik of Astrakhan State Technical University. Series: Economics

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Insurance Programs in the Renewable Energy Sources Projects

2021

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The development of projects using renewable energy sources (RES) necessitates the development of insurance programs and systems. This involves identifying and assessing the risks of renewable energy projects in the transition to new types of energy, determining typical corporate and specific risks, the need and content of the main types, forms of insurance contracts, assessing the financial condition, and choosing insurance organizations and reinsurance programs. This article focuses on the formation of such insurance programs, their interaction with industrial safety systems and ensuring corporate participation in achieving sustainable development goals; as well as selection and assessment of the insurer financial stability and the insurance RES programs economic efficiency.

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The Paradox of Nuclear Power Plants (NPPs) between High-Efficiency Energy and Waste Management Concerns in the Context of Disasters Worldwide

2023

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With the uncertainty concerning the future use of natural resources due to depletion and lack of access caused by the pandemic and recent political events that led to increased prices, nuclear energy may become an alternative efficient energy. NPPs raise serious concerns, including waste management, and any case of an NPP accident has the potential to disrupt the positive impact of energy production in terms of circular economies. Our research analyzed the impact of nuclear incidents as examples of disasters worldwide to decide whether any of the different forms of insurance coverage could be useful in future events. By using 2533 historical records of incidents from 1901 to June 2022, we set out to find the best predictor of damage causes and further observe whether the validation of current forms of insurance may be possible. The disaster subtype and declaration represent the best predictor of the total damage value (adjusted or not) for all types of disasters, including nuclear. The results are important inputs for underwriters working in insurance, including in radioactive waste management, which must consider historical data in order to tailor future contracts, adjusting the cost and coverage to the type of disaster. Our results highlight that with an increase of only one event involving a nuclear source, the total adjusted damages will increase by USD 1,821,087.09 thousand, representing 75% of the damage costs of the rest of the disaster subtypes. The results are useful for public entities to evaluate nuclear energy as a new solution and can help further adapt existing policies to include better responses for waste prevention, reuse and recycling.

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Insurance Instruments in Estimating the Cost Energy Assets with Renewable Energy Sources

Cited by 3 publications

References 37 publications

Risk identification in projects of transition to renewable electricity consumption

Risk identification in projects of transition to renewable electricity consumption

Insurance Programs in the Renewable Energy Sources Projects

The Paradox of Nuclear Power Plants (NPPs) between High-Efficiency Energy and Waste Management Concerns in the Context of Disasters Worldwide

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