Baseball-Size Hail Makes Insuring Solar and Wind Farms Pricier
Comment of the Day

August 02 2023

Commentary by Eoin Treacy

Baseball-Size Hail Makes Insuring Solar and Wind Farms Pricier

This article from Bloomberg may be of interest. Here is a section:

Solar plants and wind farms are crucial weapons in the battle against greenhouse gas emissions. So it’s a cruel irony that their effectiveness is often hobbled by damage from storms, floods, wildfires and other disasters amplified by global warming. That’s making them harder to insure. Property insurance premiums for US solar facilities have soared as much as 50% over the past year, threatening to slow their rollout and derail global efforts to cut carbon emissions.

Eoin Treacy's view

Contradiction is a central theme in crowd psychology. It is the most obvious sign a mania is in play. The logic of hedging the risk of climate change with the climate dependent energy sources does not make sense to me. The fact that the media consensus calls for a greater weighting of solar and wind energy without making allowances for the risk that weather is variable and likely to become more so is evidence of a mania.

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