Wind, rain, fire and sun: towards zero carbon electricity for New Zealand

Abstract

We examine different scenarios with large amounts of intermittent generation to achieve close to 100% renewable electricity market in New Zealand. Our modelling suggest that large amounts of wind on its own are better than large solar or mixed wind and solar scenarios. We also see a collapse in spot prices, as we get very close to 100% renewable. We argue that there should be a market design change to a market design that moves away from the present energy only market to one that includes a capacity market.