Insurance costs for the renewable energy industry may more than triple to $2.8 billion by 2020 as projects become more complex and risky, a report commissioned by Swiss Re Ltd. found.

The report by Bloomberg New Energy Finance examined markets for wind and solar power including Australia, China, the U.S. and Germany and estimated the industry spends about $850 million a year on insurance now, according a statement from the London-based researcher released today.

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