Cyber Risk Management in the US Renewable Energy Sector
As leaders of the US clean energy transition, renewable energy organizations are high-profile targets for hackers and other cyber-attackers motivated to disrupt critical US infrastructure for either political or competitive reasons. Their rapidly expanding footprints, complex supply chains, and diverse and distributed infrastructure make renewable energy organizations especially prone to operational disruptions from cyber-attacks. In addition, renewable energy companies’ increasing asset distribution and reliance on digital solutions also heighten the risk of cyber events.
With cyber-attacks increasing in frequency and severity, it is no surprise that 65% of organizations in the energy sector say they are challenged to keep pace with their evolving cyber risks. Compounding the challenge, renewable energy companies are now subject to cyber endorsements under their property policies that limit or exclude physical damage if arising out of a cyber event.
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