Renewable Energy Insurance Market Report 2026

The renewable energy insurance market size has grown strongly in recent years. It will grow from $18.96 billion in 2025 to $20.03 billion in 2026 at a compound annual growth rate (CAGR) of 5.6%. The growth in the historic period can be attributed to expansion of renewable energy capacity installations, increasing exposure of energy assets to weather risks, growth of utility-scale solar and wind projects, rising participation of private insurers, development of specialized renewable underwriting expertise.

The renewable energy insurance market size is expected to see strong growth in the next few years. It will grow to $24.85 billion in 2030 at a compound annual growth rate (CAGR) of 5.5%. The growth in the forecast period can be attributed to increasing investments in offshore wind and hybrid energy projects, rising demand for performance-based insurance products, expansion of distributed energy systems, growing focus on climate resilience financing, increasing integration of real-time asset monitoring. Major trends in the forecast period include increasing demand for customized renewable asset coverage, rising focus on climate and weather risk modeling, growing adoption of parametric insurance solutions, expansion of cyber coverage for renewable assets, enhanced integration of data-driven underwriting.

The growing demand for energy infrastructure investments is expected to propel the growth of the renewable energy insurance market going forward. Energy infrastructure investments refer to the allocation of capital towards the development, maintenance, and enhancement of facilities and systems that produce, transmit, and distribute energy. The growing demand for energy infrastructure investments is driven by rising global energy consumption due to population growth and industrialization, necessitating the expansion and modernization of energy systems. Additionally, the shift to renewables and carbon-reducing policies drives investments in sustainable energy infrastructure. Renewable energy insurance supports energy infrastructure investments by mitigating financial risks, ensuring project viability, and providing confidence to investors in renewable energy projects. For instance, in May 2023, according to a report published by the International Energy Agency, a France-based autonomous intergovernmental organization In 2023, the annual investment in renewable energy reached $659 billion, reflecting a 10.6% increase from $596 billion in 2022. Therefore, growing demand for energy infrastructure investments will drive the growth of the renewable energy insurance market.

Major companies operating in the renewable energy insurance market are focusing on developing innovative products, such as packaged insurance solutions, to provide comprehensive coverage and manage project-specific risks effectively. A packaged insurance solution is a bundled policy that combines various types of coverage into a single plan, designed to address the specific risks and needs of a particular industry or project, such as renewable energy. For instance, in May 2023, Chubb, a Switzerland-based insurance company, launched a Climate+ Renewables product for small to medium renewable projects and will be rolled out in other countries. This product offers customized insurance solutions for small to medium-sized renewable energy projects, such as onshore wind and ground-mounted solar installations. This product provides extensive coverage throughout both the construction and operational phases, targeting the specific risks linked to renewable energy development.

In April 2023, Renomia A/S, a Czech Republic-based insurance brokerage and consulting company, acquired Renewable Energy Insurance Broker for an undisclosed amount. This acquisition allows Renomia to strengthen its capabilities in the renewable energy sector, capitalizing on the increasing global demand for sustainable energy solutions. The collaboration is anticipated to enhance the ability of both companies to deliver superior insurance and risk management services to clients across the globe. Renewable Energy Insurance Broker is a Bulgaria-based provider of tailored insurance solutions and risk management services for renewable energy projects.

Major companies operating in the renewable energy insurance market are Munich Reinsurance Company, Assicurazioni Generali S.p.A., Swiss Reinsurance Company Ltd, Zurich Insurance Group Ltd, Chubb Limited, Aviva plc, The Travelers Companies Inc., Mapfre S.A., The Hartford Financial Services Group Inc., SCOR SE, Marsh McLennan Companies Inc., QBE Insurance Group Limited, Aon plc, CNA Financial Corporation, Markel Corporation, Willis Towers Watson Public Limited Company, Arthur J. Gallagher & Co., AXA XL Group, RSA Insurance Group plc, Liberty Specialty Markets, Tokio Marine HCC, Beazley plc, Hiscox Ltd, BKS Partners Inc., The Horton Group Inc.

Europe was the largest region in the renewable energy insurance market in 2025. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the renewable energy insurance market report are Asia-Pacific, South East Asia, Western Europe, Eastern Europe, North America, South America, Middle East, Africa. The countries covered in the renewable energy insurance market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Taiwan, Russia, South Korea, UK, USA, Canada, Italy, Spain.

The renewable energy insurance market includes revenues earned by entities through cyber insurance, performance warranty insurance, operational risk insurance, engineering risk insurance, and technical risk insurance. The market value includes the value of related goods sold by the service provider or included within the service offering. Only goods and services traded between entities or sold to end consumers are included.

The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD unless otherwise specified).

The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.

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