The BusinessNZ Energy Council (BEC) stated that investigating answers to the dry year problem was important. However, options must be considered for both short and long-term energy issues.
"With the world moving to decentralised options, and with extreme weather events highlighting risk, it is important the Government considers options that are modular, decentralised and spread risk across the country to build resilience,” said Executive Director Tina Schirr.
Schirr elaborated that the New Zealand battery project’s completed first phase revealed a pumped hydro scheme at Lake Onslow which could take up to nine years to build, with a $15.7 billion estimated building cost.
The Director continued explaining that the dry year problem and demand peaks were severe causes of concern for the sector that must be addressed. However, the significant price tag attached to Onslow was for a non-modular solution that wouldn’t be delivered within the next few years.
With clean energy storage solutions in demand and essential for today and the future, the hydro solution at Onslow will arrive too late to address the immediate issues the energy sector is facing.
