Greens push for state-owned ‘Kiwipower’ energy company funded by wealth tax
Monday, 20 July 2026
The Green Party wants to use its ‘Super Rich Tax’ to establish a publicly owned renewable energy company called Kiwipower, to fill the gaps they say the market has failed to fill.
The party says Kiwipower could use a combination of pumped hydro, geothermal and batteries to backup more intermittent renewable sources like wind and solar, making them a far better investment.
The party’s freshly released energy election policy would also see the wealth tax used to put solar panels on more than half of all public homes within four years, give renters access to plug-in solar, and expand the Warmer Kiwi Homes programme for insulation.
It would also invest $200 million for community-owned renewable energy and commit another $80m to Māori housing.
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The party is also campaigning on zero-interest clean energy loans to install solar and batteries for homeowners ‒ a policy it announced earlier this year that has since been picked up by both National and Labour.
Publicly owned renewable energy company
Green co-leader Chlöe Swarbrick pushed ‘Kiwipower’ as a solution country’s dry-year problem without the need of a billion-dollar Liquid National Gas facility.
Funded through a four year $980m appropriation, its primary focus would be renewable firming capacity, including geothermal, batteries, demand response, biomass and pumped hydro.
“Firming” power refers to backup sources of energy to balance out the natural intermittency of some renewable sources such as wind and solar.
The party argued expanding renewable firming would see solar and wind generators enter the market and invest, increasing competition and putting downward pressure on prices. It pointed to recent OECD reports suggesting the lack of this backup firming capacity was holding renewable investment back.
“It will also send a clear signal: if existing big players will not build the firming New Zealand needs, Kiwipower will partner with others to deliver it,” the policy document read.
Kiwipower would contract firming capacity such as hydro storage and existing thermal assets, including from the big power companies, making that capacity available to independent generators, retailers and energy users, directly or through markets at fair, affordable, and transparent prices.
The big power companies will be required to provide a portion of their firming capacity to Kiwipower, giving competitors transparent access to the backup power they need to compete.
Kiwipower will secure capacity and open it up to the rest of the market on fair terms, the party said.
“Generations of New Zealanders built our energy infrastructure, and two National Governments have sold it off for parts, driving up bills and reducing New Zealanders' power and control. The Greens will fix that by investing in putting power directly in the hands of our communities.”
The Government has a majority ownership in several energy companies already.
Warmer Kiwi Homes and community energy projects a focus
Warmer Kiwi Homes is a government programme established by the Greens offering grants covering 50% to 90% of the cost of ceiling and underfloor insulation, and up to 90% for an efficient heat pump in the main living area.
Its plan to expand the programme would include replacing expensive gas heating and gas stoves, installing ventilation and hot water heat pumps.
Its $200m fund to support small-scale wind, solar and geothermal would be funded by reallocating subsidies for fossil fuel companies to community energy projects instead.
The fund would be open to schools, marae, libraries, recreation centres, community energy groups, iwi, Māori, local government and other locally governed organisations.
It had the potential to put solar on 1500 schools and 500 marae, and fund an additional 500 projects.