Climate risks hit renewables: Parametric insurance gains traction with fast payouts, myth-busting facts

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Ground-mounted solar panels in Colorado damaged by a tornado. (Photo: iStock)

Ground-mounted solar panels in Colorado damaged by a tornado. (Photo: iStock)

Several solar farms in Taiwan suffered severe damage from typhoons in July and August, raising concerns over waste management and panel recycling. Earlier this year, Europe experienced a wind drought that cut wind power generation and dealt a blow to German energy giant RWE’s first-half earnings. Both cases underscore how renewable energy projects are increasingly exposed to the impacts of climate change, highlighting the need for companies to better diversify and manage climate-related risks. 

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