As of 2021, New Zealand could get more than 15 GW of power from wind energy.The hydroelectric sector in New Zealand was established before 1980.The prime reason behind it is the higher potential of wind energy, cheaper electricity generation from geothermal, and mature hydroelectric business in the country. The increasing adoption of alternative clean energy sources such as wind, geothermal, and hydropower.So, based on the above factors, the utility sector is likely to see a lot of growth in the solar energy market of the country during the forecast period.For instance, in January 2023, Saft, a subsidiary of TotalEnergies, got a contract to establish New Zealand’s first big grid-connected battery, which is worth $NZ186 million. There are already plans for or construction of a number of large-scale solar projects in the country.Such targets are likely to see significant investments in the country's solar energy industry in the coming years. The government has set an ambitious target of increasing the share of renewable energy from 80% to 90% in 2025 and to 95% in 2035.
Most of this solar generation is from utility-scale solar power plants. In 2021, the installed solar capacity reached about 146 MW, recording an increase of 20% compared to the 146 MW in 2020. In New Zealand, the utility segment of the solar energy market has grown a lot in the last few years.The New Zealand solar energy market is expected to have the utility sector as its dominant segment due to the declining cost of solar generation technology and numerous upcoming solar power projects during the forecast period.
0 kommentar(er)
