A0737
Title: Data-driven policy design for parametric insurance on the energy production of a photovoltaic system
Authors: Fabio Baione - Sapienza University of Rome (Italy) [presenting]
Emiliano Valente - (Italy)
Abstract: Climate change represents one of the most pressing and complex challenges of the time. The objective is to propose the formulation of a parametric insurance policy to cover the risks arising from low electricity production from a photovoltaic system. Such policies can serve as an incentive to adopt renewable energy sources, encouraging their use in contexts such as powering private homes or small towns. To this end, the global horizontal irradiance (GHI) variable is used as a reference index, which represents the solar irradiance absorbed by a surface parallel to the Earth's surface. Assuming a Kumaraswamy distribution for solar irradiance in each hour, each hourly variable was interpreted as a marginal distribution belonging to a multivariate distribution function representing the entire day, modeled using a Gaussian copula.
