Source: Energy Resources Aotearoa
Energy Resources Aotearoa welcomes the Government’s decision to explore supercritical geothermal technology (SCGT) in the Taupō Volcanic Zone, led by member organisation GNS Science and the Ministry of Business, Innovation & Employment.
Chief Executive John Carnegie says today’s announcement is a potential game-changer for energy and economic development in New Zealand.
“New Zealand has been a leader in geothermal technology for decades and will now join the U.S. and Iceland in advancing supercritical geothermal technology and the valuable intellectual property that goes with it.”
As a domestic energy source, SCGT could reduce our dependence on imported coal and deliver reliable electricity at affordable prices, whatever the weather.
“Guided by cutting-edge technology from GNS Science, New Zealand’s scientists will now be enabled to bring this SCGT technology to life, potentially providing abundant energy to the homes and businesses of hundreds of thousands of Kiwis.” Carnegie says.
While natural gas must be our short-term safety net for energy security, an independent analysis from Castalia published earlier this year indicates the massive electricity generation potential that SCGT could achieve in New Zealand, concluding that it could provide up to 2,000 MW by 2050.
Carnegie says New Zealand’s competitive advantage of abundant natural resources, informed funding, and significant expertise in geothermal generation highlights that the government is taking a future-focused view by contributing to the pipeline of future energy security and resilience assets we will need for generations to come.
“We are incredibly proud that 87% of our electricity comes from renewable energy. However, only about 40% of our total energy is renewable. The real challenge will be to harness renewable resources in the next 25 years to electrify more of the economy.”
“Solar, wind, and hydro are essential for a low-carbon future. These renewable energy sources depend on weather, and dry years can threaten our energy security. Without substantial investment in surplus generation assets, weather-dependent energy cannot meet our entire energy needs – using SCGT to harness the power of the Taupō Volcanic Zone can.”
Energy Resources Aotearoa applauds this forward-thinking investment to reduce risks and enable a brighter future for New Zealand’s energy security and global technology development.
