A bright future

23 March 2009 – New Zealand was breaking its own records for renewable energy production in the final quarter of 2008, creating 74 percent of its energy from renewable sources. Boosted by full lakes, new geothermal plants, and more wind power, renewable energy produced another 18 percent of the country’s energy needs from one quarter to the next. Hydro-electric power continues to dominate the energy landscape, producing 59 percent of the total output, and with lake levels 12 percent above average thanks to heavy rains on both islands, energy prices continue to be abnormally low, even dropping down to a 1 cent/unit on the South Island last week. Wind power is another light on the horizon, with expected growth of 50 percent over the course of the next year.