Risks and Risk Management of Renewable Energy Projects: The Case of Onshore and Offshore Wind Parks

Journal article
(Original article)


Publication Details

Author(s): Gatzert N, Kosub T
Journal: Renewable & Sustainable Energy Reviews
Publisher: Elsevier
Publication year: 2016
Volume: 60
Pages range: 982-998
ISSN: 1364-0321


Abstract


Wind energy is among the most relevant types of renewable energy and plays a vital role in the projected European energy mix for 2020. The aim of this paper is to comprehensively present current risks and risk management solutions of renewable energy projects and to identify critical gaps in risk transfer, thereby differentiating between onshore and offshore wind parks with focus on the European market. Our study shows that apart from insurance, diversification, in particular, is one of the most important tools for risk management and it is used in various dimensions, which also results from a lack of alternative coverage. Furthermore, policy and regulatory risks appear to represent a major barrier for renewable energy investments, while at the same time, insurance coverage or alternative risk mitigation is strongly limited. This emphasizes the need for new risk transfer solutions to ensure a sustainable growth of renewable energy.



FAU Authors / FAU Editors

Gatzert, Nadine Prof. Dr.
Lehrstuhl für Versicherungswirtschaft und Risikomanagement
Kosub, Thomas
Lehrstuhl für Versicherungswirtschaft und Risikomanagement


How to cite

APA:
Gatzert, N., & Kosub, T. (2016). Risks and Risk Management of Renewable Energy Projects: The Case of Onshore and Offshore Wind Parks. Renewable & Sustainable Energy Reviews, 60, 982-998.

MLA:
Gatzert, Nadine, and Thomas Kosub. "Risks and Risk Management of Renewable Energy Projects: The Case of Onshore and Offshore Wind Parks." Renewable & Sustainable Energy Reviews 60 (2016): 982-998.

BibTeX: 

Last updated on 2018-10-08 at 05:10