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"A cheaper, cleaner and more cheerful alternative".
As the report says:
New Zealand will need to dramatically upscale its electricity generation capacity in coming years, with solar set to play a starring role.
And for good reason. Solar is clean, with zero emissions. It is also adaptable. Solar can be installed anywhere and can be configured in many different ways. As such, it not only promotes energy self-sufficiency, but also community resilience to extreme weather and seismic events. It’s also cost effective. Upfront capital costs of solar continue to fall, while operating costs remain minimal. Solar also generates co-investment opportunities for a range of landowners and businesses, including Māori and Iwi.
Not surprisingly, we think the outlook for solar is promising. So do others. Work done by MBIE suggests that solar electricity generation could rise ten-fold by 2050, putting it on par with geothermal and wind. As such solar is set to be an important part of the energy mix.
That doesn’t mean though that there are not challenges. Regulatory reform has a role to play in encouraging investment in solar to achieve this type of growth. Upcoming changes to the Resource Management Act and the Overseas Investment Act, for example, should help to minimise compliance costs and make it easier for on- and offshore investors to invest in solar power, especially utility-scale solar.
Addressing the intermittency of solar is also important. Battery storage should be the answer. The issue though seems to be cost. While the cost of batteries has tracked lower over time, they remain an obstacle for many.
The national electricity grid needs to be able to handle potential intra-day mismatches between the supply and demand for electricity that can be exacerbated by solar. That should mean more investment in systems that dynamically balance supply and demand for electricity.
Community opposition is also something to consider, especially when it comes to solar farms. Early/ongoing stakeholder engagement and clarifying the benefits of having cheap distributed power is key. Finally, there is the issue of obtaining finance, which can be difficult especially for larger solar farms if there are no power purchasing or off-take agreements in place.
Despite these challenges, we believe that solar power has the potential to transform our energy future, delivering lower cost, lower emissions and more reliable energy solutions for New Zealanders.
How the sun led to higher salaries for teachers in the US and why this should be happening here, too; how "the once-rigid link between economic growth and carbon emissions is breaking across the vast majority of the world" as electrification gives more countries a productivity boost (and how that would allow New Zealand to keep embracing our long, languid summer break); solar continues to weather storms and provide 'free resilience'; Dunedin laundry company Preens goes electric and saves over 300 utes worth of emissions; the company that wants you to drink diesel exhaust; and a wonderful rundown of the Kill Bills tour - and the national electrification opportunity - from one of the tour sponsors.
Read moreDownloadAs gas supplies decline and prices rise, electrification is the best bet, but it's hard for big businesses without government support. Kirsty Johnston talks to Rainbow Nurseries about how it made the switch with help from a grant, and others who are unsure they will be able to keep getting gas. As one busines owner said: "We never considered the risk to the business of not actually having natural gas," one participant said. "We always expect that the price could fluctuate… But we never anticipated maybe having no gas coming from the pipeline." There are ways for the Government to help. And there is a huge amount of new renewable electricity coming on stream, so there won't be a shortage of electrons.
Read moreDownloadMarc Daalder reports on Vector's declining gas network and how it is responding to falling customer numbers. As he writes: "Gas in Auckland is formally past its peak in the latest forecasts from Vector, the city’s only gas distribution business, with new connections set to fall to zero in three years ... From 2029, there would be no new residential or commercial connections – with new industrial connections projected to have already ceased this year."
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