AUS
NZ
UK
CA
USA
IND
Summary
- NZ would significantly improve its oil and gas production, possibly until when the nation turns out to be the next exporter of oil by the year 2030.
- New Zealand has endless opportunities in terms of biofuels, marine and solar technologies.
- Meridian Energy has invested a total sum of $3.2 billion since last 2 decades in the generation of renewable electricity.
With several energy companies into play, and the natural resources depleting so quickly, there is no doubt that renewable energy is the only sustainable way of being in the future. The good news is that renewable energy is getting more and more affordable and is beginning to be widely used across homes and industries, paving way for a world that is largely dependent on the same.
Image Source: Shutterstock
Does renewable energy come at a cost?
What sort of implications come with an energy system mostly or wholly renewable in nature?
One of the major concerns is that the resources for renewable energy remain intermittent. For example, the sun is not shining 24x7, neither are there winds 24x7. How then is substantial amount of energy being created using these resources?
The energy produced is either being stored, or a larger system than required is created, to deal with times when there is no sun or wind. In either of these approaches there are far more resources being used and consequently more money being spent on harnessing these renewable energy forms.
Image Source: Shutterstock
What is the Government’s vision for Renewable Energy’s future in New Zealand?
In a broad sense the aim to provide a comfortable living structure for all Kiwis, is what the Government envisions. Since energy is essential for every sector and forms the wind beneath the wings of the economy, there is a need for special attention to be paid on how sustainable the energy being produced is.
NZ government predictions for the future:
- There’s technological growth and enhancement occurring in different sectors such as transport, energy management, production of energy, as well as electricity systems.
- While making policies and crucial decisions, the world markets factor in the greenhouse gas emissions.
- Renewable energy will become an important part of the global energy system.
- Non-renewable energy sources will continue to be a large part of the energy dynamics for the world for several years to come.
- NZ would significantly improve its oil and gas production, possibly until when the nation turns out to be next exporter of oil by the year 2030.
- New Zealand has endless opportunities in terms of biofuels, marine and solar technologies. Amongst the current structure, the country has exemplary hydro and geothermal energy. With an excellent record in wind energy too, the country is on its way to developing new verticals of conservation and resource development.
Image Source: Shutterstock
The role of renewable resources
Already playing a large part in the energy structure for the country, wind and geothermal energy constituted 9% of the electricity, in the year 2005. In the year 2010, this figure jumped up to 17%. Over the years, the total energy constituted of 74% renewable resources. The shift has been gradual but steady, implying sustainable growth for the world in the times to come.
The energy related challenges faced by the world, must be dealt with cooperation from each country. With the development of the petroleum resources in the country, New Zealand could make pivotal contribution to world’s energy security and conservation.
Geothermal energy, which is also one of New Zealand’s strongest suits, could also be a great way of supporting the world energy condition in long run. Several Kiwi companies are already a part of many offshore projects.
The responsibility of the consumers
There is need for people to make a conscious choice to shift to renewable sources of energy. Internationally, New Zealand enjoys a comfortable position in terms of energy prices. While the government keeps the prices low to maintain a competitive market for energy. Making the decision to save energy should continue, and shifting to conservatory methods is something that needs to be done on every level, whether buying an energy efficient car or installing solar panels in your house, etc.
Meridian as a part of energy conservation
Meridian Energy Limited (NZX:MEL) is the leading renewable energy generator in the country. They have invested a total sum of $3.2 billion since last 2 decades in the generation of renewable electricity. This is more than twice of what any other electricity generator in the nation has invested.
This has also been the reason for saving as much as 4.6million tonnes of carbon from being released in the environment each year. It was further revealed that the electricity produced By Meridian in the month of December 2019 was more than the output in December month of any prior years.
