New Zealand 2023

Energy Policy Review for New Zealand 2023

Executive Summary

• Overview: The International Energy Agency (IEA) provides a comprehensive review of New Zealand's energy policies, focusing on climate change, energy efficiency, and renewable energy.
• Climate Change Policies: New Zealand has set ambitious targets to reduce domestic greenhouse gas emissions, aiming for net-zero by 2050. The country has made significant progress in its low-emission electricity system, where over 80% of electricity comes from renewable sources.
• Energy Strategy: The government has committed to developing a long-term energy strategy by 2024 to shift the energy system away from fossil fuels towards low-emission alternatives.
• Electricity in the Energy Transition: The task now is to leverage the renewables-based electricity system to decarbonize other sectors such as transport and industry.

Key Recommendations

• Finalize and implement strategic planning for energy and climate policies to provide long-term investment signals to the energy sector.
• Develop a comprehensive long-term energy strategy by 2024.
• Address the need for significant investments in technology, renewable generation capacity, grids, and storage.
• Implement major energy efficiency upgrades in the buildings sector.

Energy System Transformation

• Energy and Climate Change: New Zealand aims to phase out fossil fuels and reduce energy-related greenhouse gas emissions.
• Emission Drivers and Carbon Intensity: The country is working on reducing emission drivers and improving carbon intensity.
• Emissions Targets and Policies: Specific targets and policies are in place to achieve these goals.

Energy Efficiency

• Industry: Significant efforts are required to upgrade industrial processes and improve energy efficiency.
• Buildings: Major energy efficiency upgrades are needed to decarbonize the buildings sector.
• Transport: Efforts are being made to reduce emissions in the transportation sector.

Renewable Energy

• Overview: New Zealand has a strong base in renewable energy, particularly in electricity generation.
• Renewable Electricity Generation: The focus is on expanding renewable generation capacity and integrating it into the grid.
• Renewable Energy Policies: Policies are in place to support the growth of renewable energy.

Energy Research, Development, and Innovation

• Overview: Key actors and priorities in the energy innovation ecosystem are identified.
• Resource Push: Initiatives to promote research, development, and innovation in the energy sector are highlighted.
• Monitoring, Evaluation, and Tracking: Systems to monitor, evaluate, and track the results of these initiatives are discussed.

Overall, New Zealand is making significant strides in its energy transition, with a strong focus on renewable energy, energy efficiency, and reducing greenhouse gas emissions. The country faces the challenge of decarbonizing other sectors while leveraging its existing strengths in renewable energy.