Battery Energy Storage System (BESS) Fundamentals-Battery Energy Storage System (BESS) Fundamentals

Video Transcription

Video Summary

The webinar on Battery Energy Storage Systems discussed various critical considerations for these systems, including environmental exposures, fire risks, security concerns, and regulatory standards. Emphasis was placed on factors affecting battery lifespan, risks of thermal runaway events in lithium-ion batteries, and the importance of fire protection measures. The speakers highlighted the significance of fire protection systems, pre-planning with fire departments, and off-gas detection systems to manage thermal runaway risks. Alternative battery technologies and considerations for mobile energy storage systems were also touched upon. Insurance considerations, such as BMS effectiveness and testing standards, were discussed as crucial for risk assessment and mitigation. The evolving nature of fire protection standards in the energy storage industry was underscored, along with the need for ongoing vigilance to prevent potential losses.

Asset Caption

Date of Publication: October 6, 2022
Duration: 99 minutes

Battery energy storage is rapidly expanding not only here in the U.S. but around the world. It has been quite a challenge for the insurance industry to keep up with all the changes that have taken place in just the past few years.

Meta Tag

Module Inland Marine Insurance Industry

Keywords

Battery Energy Storage Systems

Critical considerations

Environmental exposures

Fire risks

Security concerns

Regulatory standards

Battery lifespan

Thermal runaway events

Fire protection measures

Fire protection systems

Off-gas detection systems

Alternative battery technologies

Mobile energy storage systems