Energy to Grow: Securing New Zealand''s Future
Discover how Aotearoa New Zealand can secure its energy future - unlocking growth, resilience, and sustainability through firmed
01 JUL 2024 Contact's first renewable project in Auckland to start immediately. Tesla selected as battery energy storage system supplier, the first Megapack 2 XL project in New Zealand. The battery system will discharge stored energy at a split second to significantly improve security of energy supply to New Zealanders.
Aotearoa New Zealand's energy system remains one of the best in the world, but it is now at a crossroads. Over the past 50 years, New Zealand's affordable, secure energy supply has powered industrial growth and sustained economic competitiveness. But that advantage is now under pressure.
Since the publication of The Future is Electric by BCG in 2022, New Zealand's energy sector has made strong progress – increasing renewable electricity to nearly 90% and advancing new technologies like grid-scale batteries. With momentum in the pipeline, renewables are expected to exceed 95% by 2027.
Options include new gas storage, imported LNG and alternative liquid fuels (condensate or diesel). New Zealand has enough solid fuel in storage to mathematically produce enough energy in a dry year, but solid fuel power plant capacity alone cannot meet all demand at peaks – hence gas, and potentially liquid fuels, are also required.
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