What is the future of energy?

With today’s announcement by the Coalition of their energy policy, placing nuclear at the forefront of the strategy, it is timely to think about the future of energy.??? The global movement toward decarbonisation and renewables is welcome and it is good to see the drive and expertise supporting technology development and energy transition.

But the Paris targets to which Australia has committed are very ambitious.? The extent of the challenge, and investment required, is very poorly understood. It is unclear how many of the challenging and ambitious projects will be funded, and inevitably many will not proceed.

We need a stable, robust energy grid to power hospitals, industry, homes and modern life. Renewables continue to increase as a proportion of the energy mix, but a reliable, firming energy source is still required.?? For the moment, and the foreseeable future, gas is the only realistic option to fill this role.

Nuclear may be a valid part of the energy solution, but there is still an enormous challenge in gaining public acceptance.? And it would take many decades to develop a nuclear industry at scale in Australia, with the requisite technology and skills development, supply chain and infrastructure.

Whilst good progress has been made, there is still much to be done.?? We are moving toward a lower carbon energy future, but it’s a huge challenge that will not happen overnight.

And in the meantime, whether we like it or not, gas plays a key role in our energy future.

Jeanette Roberts is an energy industry leader and Non-Executive Director.?? She is interested in global energy issues, and their impact on the Asia Pacific region.

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