And that’s not even taking in to consideration that the Lake Onslow scheme requires a large percentage of the energy the “battery” produces to pump the water back up into Lake Onslow again. In fact, overseas experience has shown that hydro battery solutions is one of the most expensive ways of producing power.
For the estimated, and unbudgeted, $16 billion Lake Onslow scheme, the country could build two nuclear power plants (MIT estimate that a NPP costs between $2-4 billion USD to construct depending on size)….and have change left over for a roofed stadium in Auckland and new Cook Strait ferries and terminals.
Or another solution, $16 billion is the same as giving every household in NZ an $8,000 grant to put in a solar power system.
And people are dreaming if they think that $16,000,000,000 would be the final cost of that system. Just think of the cost blowouts of the Cook Strait ferry terminals, Transmission Gully, the CRL, the Auckland Convention Centre, etc.