The One Thing Preventing Wind Energy Stakeholders From Earning Billions

–Data-Driven Energy #1

Today, weather is the single greatest factor influencing performance.

The wind energy industry has matured and the turbines are more reliable. However, transferring weather risk remains the most significant factor of untapped value. As stated by leading renewable energy underwriter GCube, wind energy stakeholders worldwide have failed to earn an extra USD $56 billion due to weather-related underperformance.

“A 50-MW onshore wind farm worth $80 million, successfully mitigating or transferring weather risk could achieve a total net present value increase of $5.8 million. By comparison, the same 50-MW asset with comprehensive Operational All Risks insurance coverage in place is likely to see just $1.5 million on average of financial losses throughout its lifetime.”
— GCube

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You are reading the first episode of a new blog called Data-Driven Energy covering articles about how data benefits the energy industry.

What else caught my eye in energy this week:

The ‘New Normal’ in America’s Energy Industry.
Julia Pyper gracefully summarized key findings from the recent 2017 Sustainable Energy in America Factbook, compiled by BNEF. In short: renewables are booming, emissions plunging and consumers are saving more than ever.

Q&A with European Commission.
In an easy-to-follow fact sheet you will find answers to everything that you would like to know about the developments in renewable energy in the EU and how they are being funded.

WindEurope Launched a Unique Digital Platform.
A cool new platform called Daily Wind Power Numbers informs policy makers, stakeholders and citizens of the daily share of wind in yesterday’s power mix, hourly electricity mix and capacity factors for wind across Europe.

Accelerating the Global Energy Transformation.
Flagship report REthinking Energy 2017 put together by IRENA examines trends and developments in the global quest for a sustainable energy future. Renewables have now become the first choice for expanding, upgrading and modernising power systems around the world.

Thanks for reading! This was the first episode of a new blog called Data-Driven Energy. If you’re curious about renewable energy, the role of data in the energy industry and tips and tools for data-driven businesses, then I believe you will find it useful.

Pro tip: My team will start to distribute my blog posts once a week via email. Simply add yourself to the list and find the next issue in your mailbox.