Significant rise in renewable electricity

Energy and Resources Minister Simon Bridges says new figures showing renewable energy contributed almost 80 percent of New Zealand’s electricity generation last year are very encouraging.

At 79.9 percent, the share of renewable electricity generation in 2014 is the highest it has been since 1996.

The figures were released today in the Ministry of Business, Innovation and Employment’s December quarter 2014 edition of the NZ Energy Quarterly.

“This is an increase of nearly five percent on 2013, when the share of renewable electricity generation over the year was 75.1 percent,” Mr Bridges says.

During much of the previous decade the share of renewable electricity generation was in the 60-70 percent range, before beginning to climb in 2009.

“So the overall trend is very positive and shows we’re making strong progress towards our ambitious goal of having 90 percent of New Zealand’s electricity supply generated by renewables by 2025”.

Geothermal generation has more than doubled over the past decade and for the first time in 40 years, geothermal electricity generation contributed more electricity than natural gas during 2014.

“This is a clear sign that when a Government enables a market with direction and certainty, it results in real investor confidence”, Mr Bridges says.

“These figures are a reminder of the renewable advantage New Zealand enjoys as a result of our abundant energy resources.

“New Zealand’s share of renewable electricity generation is the fourth largest in the world.

“Globally, the value of the renewable energy industry is growing, which also presents opportunities to leverage our expertise and experience.

“I will be promoting our renewable advantage in April, when I will be leading New Zealand’s delegation to the World Geothermal Congress in Melbourne.

“The Congress is a unique event that brings together members of the geothermal community from around the world. I want to ensure that we make the most of the huge comparative advantage we have in New Zealand’s renewable energy supply and expertise, particularly in geothermal”, Mr Bridges says.

The NZ Energy Quarterly is available here:
http://www.med.govt.nz/sectors-industries/energy/energy-modelling/publications/new-zealand-energy-quarterly

More information on the World Geothermal Congress is available here:
http://wgc2015.com.au/

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