Twaice Battery Storage Software Enables Munich Re Insurance

Industry News – Monday, April 27, 2020

The analytics software for stationary battery storage provided by TWAICE enables the innovative insurance solutions for lithium-ion batteries.

By generating a digital twin of the operating battery system, the software generates transparency about performance and aging of the Li-ion batteries. The optimized operating strategy and closed monitoring are used to offer performance battery warranty insurances, already in use for stationary storage provider Smart Power. The insurance policy of Munich Re ranges from two to ten years and covers system repair and maintenance while additionally protecting the customer against insolvency and non-payment of the battery supplier.

“We are delighted that we could develop this solution jointly with TWAICE. Here, we offer a tailored holistic concept comprising optimized battery use and comprehensive insurance of the system,” says Dr. Sebastian Scholz, Product Lead Energy Storage at Munich Re Green Tech Solutions.

Source: TWAICE ǀ
Image: TWAICE ǀ

The ees International Magazine is specialized on the future-oriented market of electrical energy storage systems, not only from a technological-, but also a financial and application-oriented point-of-view. In cooperation with ees Global, the ees International Magazine informs the energy industry about current progress and the latest market innovations.

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