Global energy expert Michael Liebreich has told sector leaders in Wellington that electrification will deliver better resilience, climate impact, and energy affordability in New Zealand.
ERGANZ hosted the founder of BloombergNEF, Chairman and CEO of Liebreich Associates, and host of the Cleaning Up podcast during his visit to New Zealand in June. His comments came during his only public speaking engagement.
Liebreich’s presentation was titled ‘Navigating the turbulent transition: an international perspective’ and had a strong focus on the great clean energy acceleration over the last five years as electricity demand, supply, and distribution continues to grow.
“There’s going to be another turn of the screw towards clean energy,” predicted Liebreich.
Liebreich discussed how overseas conflicts and changes to energy policy has reshaped the global energy system, including shifting the tide in how power is generated.
“Wind and solar is about to overtake gas globally, and renewables now produce more energy than coal.”
He explained how the falling costs of battery technology has driven increased demand for electricity and predicted that the growth in electric vehicle sales is set to be a long-term trend as EV costs, efficiency, and range improve.
Liebreich also provided insights on trends across different markets around the world, including the continued expansion of China’s electricity sector, EU’s high industrial electricity prices, and the impact data centres will have on global energy demand.
According to Liebreich, New Zealand has a distinct clean energy advantage due to its natural geography and because around 90% of its electricity is generated from renewable sources. He suggested electrifying transport, heating, and low-to-mid temperature industrial heat represents the best value for money for New Zealand’s ongoing energy transition.
“When you look at the energy trilemma of affordable, resilience, and climate, electrification is everything.”
Liebreich also stressed the need for the sector, politicians, and the public to build consensus around what New Zealand’s future energy sector should look like, and to build a strategy around that shared energy vision. During his visit, he met with regulators and policymakers to discuss challenges and opportunities facing New Zealand’s energy system.
Liebreich’s full presentation can be found here.
