UL has published a report on the challenges involved in energy storage risk mitigation: “How to De-Risk North America’s Energy Storage Project Pipeline.”

The U.S. transition to clean energy relies on the energy storage sector that enables the U.S. electric grid to utilize wind and solar power. Energy storage is critical in balancing renewable energy production with electricity demand, but it comes with financial and technical risks associated with batteries. A pathway to de-risking is required in order to more rapidly deploy batteries as an energy storage and dispatching source.

Developed following a special stakeholder event convened in November 2021 surrounding the topic, the report compiles feedback from renewable energy developers, storage-related trade associations, banking and insurance executives, and UL’s battery and energy system experts. Information covered includes the limited track record and lack of standardization, supply chain risks, physical hazards like fires, insurance and risk allocation, how to reduce risks, and more.

Download the report at no cost on UL’s website.