New Zealand 2023 Energy Policy Review
New Zealand has set ambitious targets for reducing greenhouse gas emissions, including
achieving net zero emissions by 2050. The country enjoys many natural advantages for
its energy transition, including an enviable renewable resource base.
New Zealand already has a low‑emissions electricity system, with significant production
from both hydropower and geothermal, and therefore has an attractive opportunity to
leverage this clean electricity to decarbonise end-user sectors. This will require
not only sizeable technological investments to efficiently electrify transport and
industry, but will also necessitate a sizeable buildout of additional renewables generation
capacity, along with supplemental grid and storage investments. Notably, the transport
sector accounts for the highest share of emissions and is almost entirely dependent
on oil. Industry is also a major contributor to New Zealand’s emissions and is heavily
reliant on fossil fuels.
In this report, the IEA provides energy policy recommendations to help New Zealand
effectively manage the transformation of its energy sector in line with its climate
targets.
Published on April 27, 2023
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