Renewable Energy R&D funding

The Government has identified clear goals for increasing renewable electricity generation through the New Zealand Energy Strategy 2011-2021 which includes a target that 90 per cent of electricity generation be from renewable sources by 2025 providing this does not affect security of supply. This is supported by the New Zealand Energy Efficiency and Conservation Strategy 2011-2021 which includes an electricity system objective for "an efficient, renewable electricity system supporting New Zealand’s global competitiveness." The Government’s approach to developing New Zealand’s renewable energy resources is to ensure market incentives and the regulatory framework support further investment in appropriate renewable energy projects by removing any unnecessary regulatory barriers. There is no Government subsidy for new electricity generation in New Zealand since renewable energy is already cost-competitive as a new source of electricity generation, however, the NZ ETS is intended to send a clear price signal and create a competitive advantage for renewable generation. For 2013/14 the Ministry of Business Innovation and Employment directly invested $5.46 million into programmes relating to renewable energy. A number of Crown Research Institutes include renewable energy within their Statements of Core Purpose, and invest core funding to support capability in this area.

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