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Design and hedging analysis of photovoltaic/hydropower generation index insurance products based on climatic resources: A case study of the Beijiang river basin
Acta Meteorologica Sinica 2025, 83(6): 1474-1491
Published: 25 December 2025
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To address the strong weather dependence of the new energy industry and limitations of traditional insurance, it is imperative to accelerate the application of weather index insurance in new energy risk management. Based on a case study in the Beijiang river basin, this paper utilizes meteorological data from 1984 to 2023 and runoff data from 2003 to 2017 combined with hydrological and power generation potential models to analyze the spatiotemporal distribution characteristics of photovoltaic and hydrological climate resources on a monthly scale. Considering core processes such as trigger value setting, pure premium rate determination, compensation scheme formulation and verification, a basin-level photovoltaic and hydropower index insurance product is designed and applied. Furthermore, Kendall rank correlation analysis and standard deviation reduction percentage method are employed to systematically evaluate its hedging effects under different temporal-spatial conditions and different proportioning scenarios. The results show that the photovoltaic and hydropower index insurance, with monthly solar radiation and runoff as indices, can provide multi-level risk protection schemes by setting different monthly compensation trigger thresholds according to exceedance probabilities. Under different claim initiation standards, the annual average values of monthly pure premium rates for photovoltaic and hydropower index insurance are 7.1%—11.8% and 7.1%—39.9%, and the annual average values of monthly cumulative compensation ratios are 6.1%—13.3% and 6.9%—29.3% respectively. The spatial hedging performance of the photovoltaic and hydropower index insurance is superior to that of single-factor power generation index insurance. In the same spatial range, the complementarity of photovoltaic and hydropower generation potential is generally strong from June to October, showing a distribution pattern of "stronger in the southeast and weaker in the northwest". The risk diversification effect of photovoltaic and hydropower index insurance in different spatial areas is better than that in the same spatial area, and the diversification effect of "hydropower hedging solar power" is more optimal. In the scenario with the strongest hedging performance, when the proportion of photovoltaic and hydropower index insurance products is 7:3, the volatility of the insurance loss ratio reaches the smallest, which is respectively 19.2% and 51.9% lower than that of single photovoltaic and hydropower index insurance. Therefore, by optimizing the proportion of different insurance products, the volatility of the loss ratio of "hedging-type" insurance products can be effectively reduced, and their overall operational stability can be improved.

Issue
Risk Zoning of Heat Stress Risk Zoning of Dairy Cows in Jiangsu Province and Its Characteristics Affected by Climate Change
Scientia Agricultura Sinica 2022, 55(22): 4513-4525
Published: 16 November 2022
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【Objective】

The aim of this study was to master the occurrence law of cow heat stress under the background of climate change to optimize the production management of pasture and to promote ecological and healthy breeding level of dairy cows, which could provide the reference for optimizing the layout of animal husbandry, intelligent management and control of pasture, site selection and transformation, benefit improvement and so on.

【Method】

Taking Jiangsu Province as an example, the risk index (RI) was constructed based on the temperature humidity index (THI) by using the Era5 data set of global atmospheric reanalysis data from 1980 to 2020, which represented the degree of cow heat stress. The K-means clustering algorithm was selected to realize the risk zoning of heat stress of dairy cows, and the regional evaluation was carried out in combination with the characteristics of occurrence intensity, frequency, start and end time, as well as duration of heat stress. The climate tendency rate was calculated to analyze the change trend of the characteristics of cow heat stress in the different risk areas. Based on the cumulative temperature humidity index (CTHI), Mann-Kendall test was used to determine the climate mutation points in the different risk areas. Furthermore, the impacts of climate change on the occurrence characteristics of cow heat stress in different risk areas were analyzed from the daily and hourly time scales, respectively.

【Result】

The risk of heat stress of dairy cows in Jiangsu Province presented the distribution features of "high in the southwest and low in the northeast". The low-risk areas mainly included Huaibei and the middle-eastern area of Yangtze River and Huai River valley. The regional averaged value of THI was 73.63, and the mild heat stress mainly occurred. The high-risk areas mainly included the areas along the southern Jiangsu and the west area of Yangtze River and Huai River valley. The regional averaged value of THI was 75.12, and the occurrence frequency of mild and moderate thermal stress was nearly the same. In the low-risk and high-risk areas, the start and end time of heat stress showed an advanced and delay trend, and the duration days showed an extended trend of 4.0 d/(10a) and 4.2 d/(10a), respectively, the values of THI all showed an increasing trend of 0.2/(10a), while the value of CTHI showed an increasing trend of 301.2/(10a) and 256.1/(10a), respectively. The frequencies of mild thermal stress were bimodal, which mainly occurred from the early-June to the mid-July, and from the early-August to the middle-September, while the frequency of moderate thermal stress was unimodal, which mainly occurred from mid-July to mid-August. The change of daily heat stress intensity basically presented a distribution of "sinusoidal", and the high incidence period was concentrated in 11:00-17:00. Affected by climate change, the heat stress of dairy cows in Jiangsu Province showed an obvious increasing trend, reaching a small peak in 2010. Then after a decline, it showed a steady strengthening trend, which exceeded the threshold of 0.05 significance level. In the low and high risk areas, the highly impacted periods of cow heat stress were prolonged, the occurrence frequency increased, the coverage increased, and the starting-time moved forward. The daily beginning time of the high incidence period of cow heat stress moved forward for about 1 hour, and the intensity of heat stress in high-risk areas was basically increased close to the medium level.

【Conclusion】

Based on THI, RI and CTHI, the risk zoning assessment and climate impact analysis of cow heat stress could be realized, the high-risk areas as well as key prevention and control periods of cow heat stress could be determined, and the climate change trend could be grasped. With the climate change, the heat stress of dairy cows in Jiangsu Province showed the characteristics of "earlier, stronger, longer and more", which should be actively dealt with.

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