The energy landscape is undergoing unprecedented change. To explore what the energy landscape could look like, KPMG asked 30 Voices to place themselves in 2030 and look back over the last ten years.  The 30 Voices in this report cover every facet of the energy industry and beyond - from incumbents to challengers, big tech firms to investors, government ministers to academics and more. 

In 2030, many countries and companies are on the way to realising their net zero goals, while the pace of change in the sector has been faster than at any other time in its history.  The foundation of this new energy system has shifted from fossil fuels to clean electrification. While climate change concerns have forced stricter decarbonisation and ESG targets for both governments and companies, seeking to stay relevant to consumers has become a priority, meaning getting to net zero is now at the top of most corporate agendas.

Six areas of change for the Australian energy landscape

The future is anyone's guess. Taken together, the Voices create a valuable chorus of insight and expertise. Their predictions for the industry span six areas in which KPMG also envisages dramatic change.

1. The Energy Mix

PREDICTIONS:

Renewables are now predominantly powering Australia.

Closure of coal-fired power plants is underway. Gas continues to be an option to provide firming capacity for intermittent renewables.

Hydrogen, green and blue, dominates the remaining decarbonisation journey.

2. ESG and the Transformation Agenda

PREDICTIONS:

ESG has been incorporated in core business strategy. Laggards will be starved from capital investments.

The entire energy value chain has been overhauled and reconfigured.

Electrification and low emissions transportation are transforming whole cities and industries.

3. Data as the Fuel Behind Energy

PREDICTIONS:

The availability of data and artificial intelligence (AI) has increased demand flexibility and energy efficiency; protecting the consumer is paramount.

Cyber security is a priority investment focus to future proof the new energy system.

Digital verification and tracking of energy and emissions has become standard in global trade.

4. People & Talent: The Energy Battleground

PREDICTIONS:

The energy industry is facing a talent crisis for contemporary energy and technology skills.

The data driven energy system is seeing a rise in demand for data management and AI skills; data is also driving more leadership decisions.

Increasing uncertainties around the pandemic and climate change mean operational resilience is crucial.

5. Beyond net Zero: The Push for Green Energy

PREDICTIONS:

In an evolving geopolitical landscape, the race to decarbonise is amplifying uncertainties.

Net zero is a bipartisan issue; the urgency of acting to mitigate the impact of climate change has accelerated policy making.

Governments have reinforced policies to protect consumers and communities.

6. The 2030 Policy Agenda and the Geopolitical Landscape

PREDICTIONS:

Technology focus is positioned around emissions reduction and clean energy.

"Green investment" now known as simply "investment".

The decarbonisation action is now with hard-to-abate sectors.

Download the full report here