NZ is one of the first countries to have reached an electrification tipping point. A recent report from Rewiring Aotearoa has shown the rising cost of petrol and gas in New Zealand now means electric homes and EVs are more affordable than fossil fuel alternatives.
Even accounting for higher upfront costs, and the interest you pay if you need to borrow to buy these appliances, the report shows a combination of EVs and electric appliances are cheaper over the lifetime of the machines.
The average home that uses gas and petrol vehicles could save around NZ$1500 per year at current interest rates – that’s nearly AUD$1400. Even more – NZ$4,500 - if they get a low interest loan and get their electricity from a combination of rooftop solar, a home battery, and the existing electricity grid.
Mike Casey, the Chief Executive of Rewiring Aotearoa, discusses their Electric Homes report, and how he fully electrified his own cherry farm.
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