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Renewable energy sources paying their way in New Zealand

Xinhua, April 27, 2017 Adjust font size:

Renewable sources of electricity are generating significant economic benefits for New Zealand, the government statistics agency said Thursday.

Wind and geothermal electricity generation had grown strongly from 2007 to 2015, according to a report from Statistics New Zealand.

Geothermal's contribution to New Zealand's total renewable energy generation increased from 11.5 percent in 2007 to 21 percent in 2015, while its value rose from 1.3 billion NZ dollars (899.08 million U.S. dollars) to 2.9 billion NZ dollars (2 billion U.S. dollars).

The value of wind jumped from 238 million NZ dollars (164.6 million U.S. dollars), or 2 percent of total renewable energy generation, in 2007 to 884 million NZ dollars (611.37 million U.S. dollars), or 6 percent, in 2015.

The value of all renewable energy resources used to generate electricity increased 22 percent from 11.3 billion NZ dollars (7.81 billion U.S. dollars) in 2007 to 13.8 billion NZ dollars (9.54 billion U.S. dollars) in the year ended March 2015.

"Wind power has emerged as a significant energy asset," statistical services manager Dan Oberhaus said in a statement.

"The increased use of wind and geothermal energy resources is showing positive contributions to our economy."

Water remained the most significant renewable energy resource and contributed over half the asset value for all renewables at 9.8 billion NZ dollars (6.77 billion U.S. dollars) in 2015, when it accounted for 56 percent of New Zealand's electricity generation.

Renewable energy resources contributed 79 percent of total electricity generation in the year to March 2015.

Growth in total electricity generation increased more slowly than the population from 2007 to 2015, suggesting fewer energy resources in the form of electricity are being demanded per person.

New Zealand's population increased 9 percent from 4.22 million in 2007 to 4.58 million in 2015.

Over the same period, total net electricity generation increased less than 1 percent or 270 gigawatt hours. Endit