Weather index insurance for wind energy

Abstract

As China vigorously promotes the development of new energy, photovoltaic power curtailment and wind power curtailment have been effectively resolved. At the same time, the yield from new energy power generation is becoming an important factor that affects the scale of investment in new energy. This paper focuses on the weather risks faced by wind power producers. By studying current research on weather index insurance in China and abroad, the functions and design methods for weather index insurance have been clarified. In addition, the feasibility of wind-power generation index insurance is discussed. The calculation methods for wind power generation index and the weather index insurance pricing methods for wind power enterprises are proposed. A weather index insurance model for wind power generation was established. The rationality and feasibility of the weather index insurance model proposed in this paper were verified using data from an existing power plant. The simulation results show that wind power enterprises can effectively avoid economic losses caused by weather risks through weather index insurance. Keywords: New energy sources, Wind power, Weather risk, Wind-power generation index insurance