Are battery energy storage systems safe on ships?

Gard published that in the past few months, has received several queries on the safe carriage of battery energy storage systems (BESS) on ships and highlights some of the key risks, regulatory requirements, and recommendations for shipping such cargo.

Why do you need warranty insurance for your energy storage system?

Our warranty insurance solutions help to secure your sustainable business in the long run. Energy storage systems often involve the complex integration of multiple high-tech components. These are all prone to failure and malfunction, particularly over long periods of ten years and more.

What is a battery energy storage system?

Battery energy storage systems (BESS) are the most common type of ESS where batteries are pre-assembled into several modules. BESS come in various sizes depending on their application and their usage is expected to rise considerably in coming years.

Why do we need reliable energy storage systems?

Renewables like wind and solar energy are intermittent by nature. To successfully master the energy transition, reliable energy storage systems are a must to provide the necessary supply stability.

Are energy storage systems equipped with lithium-ion batteries dangerous?

Our focus in this article is therefore on energy storage systems equipped with lithium-ion batteries. Declaration of BESS Siddharth Mahajan, Senior Loss Prevention Executive, Singapore highlights that BESS with lithium-ion batteries is classed as a dangerous cargo, subject to the provisions of the IMDG Code.

Is energy storage becoming a major sector?

The last 5-7 years of energy storage becoming a major sector is a very short time for insurance companies that rely upon historical data to understand risk and exposure, said Ross Kiddie, specialist battery insurance firm Altelium’s manager for North America.