SPEND MONEY TO SAVE MONEY
do we need solar and EV subsidies in New Zealand?
the current coalition has backed
approximately $1.5 BILLION
of support for industry and fossil fuels, including:
$60Mfinancial support for Golden Bay Cement
$200Mto support oil and gas exploration
$10Mto help fertiliser makers get off gas
$60MRegional Infrastructure Fund research into supercritical geothermal
$1.2Bin Government-backed loans to help businesses transition off gas
the previous Government's GIDI Fund spent
$300M+
to help some of our biggest emitters switch to electricity
of private investment unlocked
A $650 million expansion was cancelled by the current Government.
the Clean Car Discount took up to
$8,000
off the upfront cost of an EV, back when EVs were expensive, there were fewer choices and it was new(ish) tech
With no Road User Charges as well, New Zealand was well above the global average for EV adoption in 2023.
in the year to July, New Zealand spent
$12.1 BILLION
importing petrol, diesel and other fuels
more than the year before. And that's import costs, not retail costs.
current fuel subsidies for 150,000 families cost
$7 MILLION A WEEK
or $373 million if it runs for the full year
Principal Economics says every
1 CENT
rise in fuel prices cuts New Zealand's economic output by around $56 million
if petrol sits at $3.30 for an extended period. That's around 2% of GDP, or roughly $4,000 to $6,000 per household a year.
OVER HALF
of our total energy is imported
of New Zealand's total annual energy use is electricity
what the average household could save if electricity use doubled
full electrification of our homes and cars would save
approximately $29 MILLION A DAY
by 2040 (using pre-Iran prices)
Money that stays in New Zealand, circulating through local wages, local firms and regional economies instead of heading offshore.
THE RATEPAYER ASSISTANCE SCHEME
long-term, low-interest loans for electric upgrades, backed by most parties
It's a finance scheme, not a subsidy. The Greens have proposed subsidising the interest rate down to 0%.
vehicles aren't in the RAS, so we're pushing the
EV SALARY BOOST
a tax break for working New Zealanders. Or, a pay rise you can drive.
It would cost less than what the Government is spending on fuel subsidies now.
over a five-year lease, per vehicle
cost to the Government
saved on petrol at retail prices
saved on fuel imports
And that EV keeps saving New Zealanders for about another decade.
turning over a fleet takes decades
Norway has incentivised EVs for decades. We're now lagging behind most other markets.
Australia has subsidised rooftop solar since 2001
4 MILLION+
installs
Now even Aussies without solar can get free electricity in the middle of the day.
Australia's Cheaper Home Batteries scheme
600,000+
batteries installed with 30% off the upfront cost
of New Zealand's total electricity system, built in just over a year
Huntly's peak capacity
paid for by households
indoor combustion costs an estimated
$3.8 BILLION A YEAR
in health costs and lost productivity
per gas stove, per year
air pollution from transport
2,200
premature adult deaths
estimated social cost
SPEND MONEY TO SAVE MONEY
If the Government incentivises electrification, the dividends will far exceed the investments.