Household energy storage project financing options in New Zealand 2030

How can New Zealand achieve its energy goals?

The development and adoption of new renewable power generation, energy storage, demand management and digital technologies, based on a solid strategy and facilitated through good relationships with consumers and communities, should enable New Zealand to achieve its energy goals.

What is the NZ battery project?

The NZ Battery Project was set up in 2020 to explore possible renewable energy storage solutions for when our hydro lakes run low for long periods. A pumped hydro scheme at Lake Onslow was one of the options being explored. The Government stopped the Lake Onslow investigations in late 2023.

Will New Zealand reach its 100% renewable generation goal?

By 2030, will New Zealand have reached its 100% renewable generation goal? By 2030, New Zealand will have managed to be mostly renewable, with possibly over 95% renewable generation. Even though it might not be 100%, this remains a significant achievement, well beyond most countries in the world.

What will New Zealand do in the 2030s?

In the 2030s, with electrification still growing, we need to make sure that people have confidence in the grid. Once our energy system pushes past 90% renewable power generation, there will be a trade-off between certainty and uncertainty. In 2030, we have more diverse renewable power generation and more New Zealanders owning electric vehicles.

Is New Zealand ready for the energy transition?

The energy transition in New Zealand must be driven by the younger generation. “New Zealand’s energy transformation is both revolution and evolution. Innovation and staying relevant to global renewable suppliers are key to its success.” In 2030, New Zealand is fortunate to have close to 100% renewable electricity.

How can we improve New Zealand's energy supply?

Through the use of efficient technologies and processes, we can improve the affordability and reliability of New Zealand’s energy supply. Demand management is becoming increasingly important as our electricity demand increases and we transition toward greater use of renewable energy sources.