20 June 2018

Outlook on New Zealand’s energy sector

Outlook on New Zealand's energy sector

The energy sector of New Zealand might contribute around a multi-billion dollar to its economy by providing plenty of jobs in the sector.

The main objective of the country is to create an economy which will be based on 100% renewable energy, energy efficiency and sustainable transport in the near future.

Geothermal and bio-energy sectors will create around 30,000 jobs based on scientific modelling carried out by experts in Europe, Australia and New Zealand, as per the report given by Greenpeace New Zealand.

The geothermal industry alone will contribute over NZ$4billion to the country’s economy every year. And because of the growth in the bio-energy sector, the country will be less dependent on oil imports from foreign countries, due to which by 2035 the country will be able to save over NZ$7billion annually.

By 2030, over 10,000 people will be employed by the renewable electricity and heating industries as compared to 5000 employees in this sector in 2010, due to which there would be a boost to the overall employment of the country.

Currently around 75 per cent of New Zealand’s electricity comes from renewable sources, such as hydroelectric and geothermal. Because of the growth in the energy sector, in the near future it will create new jobs and will be play a vital role in the economic growth of the country. In this way by using clean energy industries to produce electricity to businesses, it will bring in fresh air, keeps the water pure and also creates plenty of new jobs and also plays a vital role in prosperity for the country. For instance, New Zealand’s forest crops that are used in bio-energy sector, will not only save billions of dollars in oil imports, but could also create 27,000 jobs.

By the end of 2013, Texan Oil Company named Anadarko is planning to drill in New Zealand waters.

Source: www.scoop.co.nz

Leave a Reply

Protected with IP Blacklist CloudIP Blacklist Cloud
Market Research Times
(C) 2012-13 Powered By NOVONOUS
All images and content Copyrights remain with the
photographer and original authors wherever applicable.