Achieving the reduction in carbon emissions needed to limit global temperature rises will require a significant acceleration of investment in both energy efficiency and fuel switching projects. In New Zealand, this will require billions of dollars of capital investment to transition to a low-carbon economy.

The objective of this study was to understand the key barriers to low-carbon fuel switching and explore the merits and drawbacks of a range of potential solutions to these barriers. The market participants engaged included large industrial process heat users, long-term capital providers, and ecosystem players such as network operators, fuel suppliers and consultants.