New Zealand Wind Power Market Size and Trends by Installed Capacity, Generation and Technology, Regulations, Power Plants, Key Players and Forecast, 2021-2030
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The New Zealand wind power market’s installed capacity was 2,404.64 MW in 2020. It is expected to grow at a CAGR of more than 5% during 2021-2030. New Zealand’s renewable power market was led by geothermal power with a cumulative installed capacity of 1,264.81 MW as of 2020. Geothermal power is expected to be at a CAGR of over 1% by 2030. The second leading source in the renewable capacity mix of the country in the year 2020 was onshore wind power with a cumulative installed capacity of 688.95 MW, which is expected to reach by 2030 at an estimated CAGR of over 8%. Solar The small hydropower segment is also expected to grow 2030 from 167.28 MW in 2020 at a CAGR of over 38% during the period 2020–2030. Another source in the renewable capacity mix of New Zealand was biopower with a cumulative installed capacity of 119 MW in 2020 which is expected to remain at the same capacity by 2030.
Overview of the wind power market in New Zealand
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What are the market dynamics in New Zealand’s wind power market?
New Zealand’s renewable power sector has grown rapidly in recent years, on account of several incentive programs and subsidies rolled out by the government in the form of tax reliefs, capital cost grants, and favorable power tariffs for renewable power. Apart from these incentives, the government ensures priority dispatch for power from renewable sources and enforces quota obligations on the stakeholders.
A significant share of domestic energy demand is being met by power from renewable energy sources in the country. It is an outlier, in the usage of renewable energy, among the developed countries, most of which remain largely dependent on fossil fuels. The initial support from the government for renewable energy in New Zealand came in the form of the Energy Efficiency and Conservation Act of 2000, which provided support for almost all renewable technologies. As part of the Energy Strategy 2050 introduced in 2011, the government set a target for renewable power to account for over 90% of domestic power needs by 2025 and ‘close to more than 100%’ by the end of 2040. In 2017, New Zealand revised the target to achieve over 100% renewable electricity by 2035.
New Zealand is expected to add 1,644.81 MW of renewable power capacity during the period 2021-2030. The onshore wind power sector is estimated to add a capacity of 829.19 MW during the period 2021-2030. This represents over 50% of the total net additions in the renewable sector during the period. The solar PV power sector is estimated to add 622.12 MW during the period 2021-2030. This represents over 37% of the total net additions in the renewable sector during the period. The geothermal power market is expected to contribute more than 11% of the renewable power installations during the period year-end 2030. Small hydro had net capacity addition of 6.5 MW during the period 2021-2030, whereas biopower had nil net addition during the period.
What is the renewable power market of New Zealand cumulative installed capacity by source (MW), 2010-2030?
Geothermal power was the leading power source in terms of cumulative installed capacity by the year-end of 2020. It had power dominant share in the total renewable power installed capacity of New Zealand contributing to over 52% in 2020. This share is expected to decrease to over 35% by 2030 owing to an increase in onshore wind power share. The share of onshore wind power was over 28% in 2020 which is expected to increase to more than 37% by 2030. Small hydropower had a share of over 6% in 2020 which is expected to decrease to more than 4% by 2030. This is followed by solar PV and biopower which had shares of over 6 %, respectively in 2020 and are expected to have shares of more than 19% respectively in the total renewable power installed capacity of New Zealand by end of 2030. The below graph below shows the comparison among various renewable sources in terms of cumulative installed capacity in the country by the year-ends 2020 and 2030.
Renewable power market in New Zealand, cumulative installed capacity by sources
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What are the different deal analysis in the New Zealand’s wind power market?
The wind power market recorded a total number of 33 deals (including partnership deals) in 2020. Out of which the highest deals belonged to debt offerings followed by equity offerings, Partnerships, acquisition, and asset transactions.
New Zealand wind power market, by deal type
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Market report scope
Market size (Year – 2020) | 2,404.64 MW |
Growth rate (CAGR) | >5% |
Base year for estimation | 2020 |
Forecast period | 2021-2030 |
Key sources | Onshore wind, Solar PV, Small hydro, Biopower, Geothermal |
Key deals | Asset Transactions, Debt Offerings, Acquisition, and Partnership |
The report analyses New Zealand’s wind power market. The scope of the research includes –
- A brief introduction to global carbon emissions and global primary energy consumption.
- An overview of the country’s renewable power market, highlighting installed capacity trends (2010-2030), generation trends (2010-2030), and installed capacity split by various renewable power sources.
- Detailed overview of the country’s wind power market with installed capacity and generation trends and major active and upcoming wind power projects.
- Deal analysis of the country’s wind power market.
- Key policies and regulatory framework supporting the development of wind power sources.
- Snapshots of some of the major market participants in the country.
Reasons to Buy
- Enhance your decision-making capability in a more rapid and time-sensitive manner.
- Identify key growth and investment opportunities in the country’s wind power market.
- Facilitate decision-making based on strong historic and forecast data for the wind power market.
- Position yourself to gain the maximum advantage of the industry’s growth potential.
- Develop strategies based on the latest regulatory events.
- Identify key partners and business development avenues.
- Understand and respond to your competitors’ business structure, strategy, and prospects.
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Frequently asked questions
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What is New Zealand’s wind power market output in 2020?
The New Zealand wind power market’s installed capacity was 2,404.64 MW in 2020.
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What is New Zealand’s wind power market growth rate?
The New Zealand wind power market is expected to grow at a CAGR of more than 5% during 2021-2030.
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What are the key sources in New Zealand’s renewable power market?
Onshore Wind, Solar PV, Geothermal, Small hydro, Biopower are the key sources in New Zealand’s renewable power market.
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What are the top deal analysis in New Zealand’s wind power market?
The wind power market recorded a total number of 33 deals (including partnership deals) in 2020. Out of which the highest deals belonged to debt offerings followed by equity offerings, Partnerships, acquisition, and asset transactions.
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