As global battery energy storage system (BESS) installations surge – projected to exceed 420 GWh by 2025 – a critical question emerges: Are traditional insurance frameworks sufficient for managing the unique risks of electrochemical storage? Recent fire incidents at Australian BESS facilities (March 2024) and $200 million in insurance claims from U.S. battery fires (Q1 2024) expose systemic vulnerabilities.
In 2023, global industries spent $2.3 trillion on reactive maintenance – failure prediction remains the holy grail of operational efficiency. But what makes failure prediction so challenging despite advanced sensors and AI models? Let's dissect why 78% of predictive maintenance initiatives fail to meet ROI expectations.
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