A new report says the country needs to invest $42 billion in new generation, distribution, storage and other technologies by the end of 2010 to decarbonize the economy faster.
Boston Consulting Group has been approached by four major power generation companies and several transmission companies to explore their future options.
The company said it took a “holistic” approach to achieve significant and rapid reductions in emissions and the development of renewable power.
He said that transitioning the country to 98% renewable electric energy by 2030 would deliver faster emissions reductions than the Climate Change Commission has advocated.
“Renewables need to be built quickly for deep and rapid decarbonization at the lowest cost to consumers,” the report said.
This means overbuilding renewables, increasing the use of storage batteries and residual use of coal and gas-fired power plants, which will raise prices but the impact on household budgets will be limited by improved energy efficiency, he said. .
The report’s $42 billion estimate is $10.2 billion for large-scale renewable generation, $1.9 billion for flexible generation to meet peak demand and dry season, $8.2 billion for network transmission including the new Cook Strait cable, and $8.2 billion for local distribution. consists of $22 billion.
“Our modeling shows that it makes economic sense for New Zealand to reach 98% renewable electricity by 2030. , will result in 8.7 million tonnes of CO2 equivalent emissions reductions in 2030.”
These goals are aimed at ensuring that investment incentives are brought in favor of renewable projects and that foreign investors are brought in to fund such projects so that investment is ahead of the need for renewable projects rather than ‘just in time’. said it was achievable if the planning law allowed for more rapid consent for projects.
Although the report foresees a diminishing role for biomass and hydrogen, at least in the short term, Pumped Storage Development on Lake Onslow The South Island, currently under investigation by the government, had advantages and disadvantages.
An important step to electrifying the economy is the proposed target of 1 million vehicles by 2030, more than doubling that target by 2040, and doubling it again by 2050 to increase is to realize electric vehicles of
https://www.rnz.co.nz/news/business/477356/report-maps-pathway-for-greater-and-faster-reduction-of-emissions Report maps pathways to significantly and quickly reduce emissions