New Zealand has encountered factory closures due to extremely high daytime energy prices, which stem from insufficient power generation and peak demand from the commercial sector.
The solution lies in expanding solar energy.
Increased solar capacity would help keep our lakes full during the day, ensuring we have enough energy stored for nighttime use in New Zealand.
More solar also translates to lower power rates for businesses operating from 9 to 5.
It’s important to note that our power grid is different from Australia’s. There, excess solar energy has led to coal power plants facing bankruptcy.
Coal power stations cannot be quickly turned on and off; they require hours to ramp up or down, resulting in significant operational inefficiencies and high costs.
As a result, Australia is investing billions in grid-scale lithium batteries.
However, New Zealand has its own substantial energy storage in the form of hydroelectric power.
YouTube.com
