The Future is Here report, which is based on modelling conducted by various experts from Germany, Australia and New Zealand, suggests that New Zealand's economy is capable of achieving 100% renewable electricity by 2025 and nearly 100% renewable transport and industry by 2050.
The report also praises the economic benefits from such a shift to renewable energy, claiming that some 30,000 jobs could be created in the geothermal and bioenergy sectors alone. The country's geothermal power market is estimated to be worth over NZD 4 billion (USD 3.3bn/EUR 2.5bn) a year, while the bioenergy industry would help avoid some NZD 7 billion worth of oil imports annually.
Currently, New Zealand produces some 75% of its electricity from renewable sources, mainly hydroelectric and geothermal.
