Rod Oram is a weekly columnist covering business, economics and politics.
Watch the video: In The Way Forward, the third in a 10-part video series, Rod Oram looks at big new ideas that can guide our response to climate change.
This episode explores the transformation underway in the power sector. If successful, it will play a leading role in helping Aotearoa reach its climate goals.
About 40% of New Zealand’s total greenhouse gas emissions come from the use of energy from fossil fuels, mainly for transportation and industry. However, if most of these activities can be powered by renewable electricity, we can reduce emissions and reduce operating costs.
Such clean electricity could contribute up to 70% of the emissions reductions needed to reach net zero carbon by 2050. Boston Consulting Group Conclusions in last year’s report.
“The 2020s is a critical decade to reach net zero and secure a more sustainable future. We can achieve renewable electricity and reduce 22 million tons of CO2-e per year by 2050.”
But to do so, the power system will need to transform rapidly. From a one-way transmission grid where electricity from large power plants is transmitted over long distances, mainly for local distribution by a handful of major players. To a bi-directional grid and local line network that will allow millions of participants to generate, use, trade and store more electricity locally.
The Boston Consulting Group estimates that this transformation could cost about $42 billion in the 2020s alone. But it will reap the benefits of cheaper and cleaner energy, benefiting everyone from major industrial users to low-income households.
in this episodeJohn Hancock is our guide to electrical conversion.
Given that a grassroots response is essential, Homai school students also visit in Auckland We Share Solar Project From Kia Kotahi Ako Trust. The program is supported by Helios Energy, which invests in grid-scale solar projects in New Zealand.
https://www.newsroom.co.nz/sustainable-future/our-electric-future our electric future