New Zealand (population 4.2 million) already has major hydro electricity resources but methane from NZ sheep is a major GHG contributor. As of 2008, "annual per capita greenhouse gas (GHG) pollution" in units of "tonnes CO2-equivalent per person per year" (2005-2008 data) is 2.2 (India), 5.5 (China), 6.7 (the World), 11 (Europe), 19 (New Zealand) 27 (the US) and 30 (Australia; or 54 if Australia's huge Exported CO2 pollution is included (see Wikipedia, "List of countries by greenhouse gas emissions per capita": http://en.wikipedia.org/wiki/List_of_countries_by_greenhouse_gas_emissions_per_capita and “Australia’s “5% off 2000 GHG pollution by 2020” endangers Australia, Humanity and the Biosphere”: http://sites.google.com/site/yarravalleyclimateactiongroup/australia-s-5-off-2000-ghg-pollution-by-2020-endangers-australia-humanity-and-biosphere ).
A US$11.8 billion investment for NZ (population 4.2 million) is equivalent to US$843 billion for the US (population 300 million) and $59 billion for climate criminal Australia (population 21 million).
Dr Nick Smith, NZ Climate Change Minister, 2009: “[100% renewable electricity by 2020] would first require writing off $4.5 billion of thermal generation assets It would also require $11 billion for the replacement capacity of 2500 MW and an additional $2 billion for additional renewable peaking stations to ensure security of supply in a dry year. This amounts to a total capital cost of $17.5 billion, excluding the additional transmission investment that would be required, and would lead to a 30% power price increase for all consumers.” .
. Press release, New Zealand Government, Dr Nick Smith, Minister for Climate Change Issues, 4 August 2009; Scoop, “Bold 2020 target comes at a high price”: http://www.scoop.co.nz/stories/PA0908/S00043.htm .