NZ needs around $20b to make its power grid go green

Embargoed until: Publicly released: 2025-02-03 03:00

New Zealand

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NZ could have a power system that produces zero carbon emissions if it replaced its 14 working fossil-fuelled generators with six hydro plants and one wind energy plant, according to modelling research. To meet our expected energy demands in 2035, researchers say we would need 21 new plants that also cover geothermal and solar energy as well. However, adding new plants alone won’t be enough to meet our energy needs in 2050. The team says the ideal minimum investment to make these changes happen is around $20 billion, but new energy storage facilities and changes to the electricity market are also needed.