The Asian Development Bank (ADB) recently called for “climate proofing” – to borrow a term used by Preety Bhandari, who heads ADB’s Climate Change and Disaster Risk Management Unit – low-lying or coastal cities in Asia requiring the trifecta of sound integrated planning, adequate resources and political commitment. “The battle against climate change is likely… Keep reading →
Germany’s Munich Re, one of the world’s largest and leading reinsurers, released on January 7 its review of natural catastrophes in 2014 – measuring the economic impact of natural catastrophes on its reinsurance business bottom line. Attributing the much lower 2014 financial losses vis-à-vis previous years to the “absence of very severe catastrophes and a… Keep reading →
Under the Dome: Inside the Maine State House provides a high-level overview of recent activity at the Maine State House. If you would like more specific information regarding an item in this newsletter or related to government relations, please contact a member of our Government Relations Practice Group: John Delahanty, Andrea Cianchette Maker, or Avery Day.
To help you save money by saving energy, we launched #AskEnergySaver — an online series that gives you access to some of the Energy Department’s home energy efficiency experts. During 2014, experts from the Department and our National Labs will be answering your energy-saving questions and sharing their advice on ways to improve your home’s comfort. For… Keep reading →
DG Energy Partners’ new project valuation model, which lets developers conduct their own first-run economic analysis, is the latest in a suite of products designed to bridge the gap between solar projects and the financing they need to move forward. The model, currently in its beta, or first version, is a web-based interface that gives… Keep reading →
Weather-related risk is keeping insurers up at night. The bill to clean up Hurricane Sandy along the East Coast came in at a staggering $70 billion, but government and private insurers were able to cobble the funds together. However, an even more serious disaster or series of disasters could shred the social safety net, permanently… Keep reading →
Connecticut’s Clean Energy Finance and Investment Authority – the state’s Green Bank, and the first of its kind of the country – has established a new solar financing system in a bid to expand capacity in the state. CT Solar Lease II seeks to avoid some of the most frequently-cited criticisms of renewable energy finance,… Keep reading →
Insurance buyers expect their insurer to be able to return them to financial health when something unforeseen happens. For that reason insurance companies are generally among the most conservative financial service institutions. Insurers don’t address risks they don’t understand or can’t quantify. With this said, it is noteworthy that the property, liability and life segments of the insurance industry are all very active in their support on renewable energy today in two very specific ways.
First, as a direct result of the demonstrated improvements in manufacturing, construction, operations, and the overall risk profile of renewable energy, insurers now actively compete to insure the risks on the basis of pricing and coverage conditions. Today, there are at least 15 major international and numerous regional insurers addressing various forms of risks directly related to renewable energy projects – many of them with divisions now focused exclusively on renewable energy business. Insurance coverages are much broader, and costs are a fraction of what they were just 10 years ago. In fact, issues in financing renewable energy projects are driving some of the most innovative changes under consideration in property and liability insurance today. Finally, because renewable energy presents a clear opportunity for business growth, the number of insures competing for business is forecasted to increase, leading to an even more robust competitive market favorable for insurance buyers. Keep reading →
Opinion: Why it’s Okay to Hate Solar
By Philip HallIt’s Okay to hate solar. I don’t, but I can see why some people might. It is after all a form of insurance – and who likes insurance? Solar is our planet’s insurance policy. While technology can help hedge against the negative impacts on the environment as a result of climate change, solar does it… Keep reading →