Could you list what types of weather you see as having the highest risk factors?
The main risk comes from weather events you don’t normally experience. In fact, the vulnerability of any project or infrastructure should be gauged by its resilience to the low occurrence events.
Of course, you can easily start to over-engineer infrastructure at high costs to avoid the damage, but this then becomes an economic decision and a balancing act – this is where insurance comes in to bridge that gap.
It’s all about the specific vulnerability of not just the infrastructure but also the business outcomes you are trying to create. In the solar world, for instance, high winds with the additional wind-blown debris can have a massive impact on a site.
However, we should not forget that it’s not just the damaging weather that can cause massive business impact. For example, increased energy in the atmosphere creates higher temperatures which leads to more moisture in the air. This can lead to more cloud and for a solar plant this could be equally as impactful to operations.