Inventing tomorrow’s energy system

The PwC Strategy& publication, "Inventing Tomorrow's Energy System," delves into the transformative era of the ongoing energy transition, marked by a profound shift from fossil fuels to renewable sources. Fueled by innovation, capital, and evolving regulations, new business models are rapidly reshaping value creation. 

With the 2015 Paris Agreement and subsequent net-zero commitments by China and the US, governments now steer the decarbonization journey. Massive economic stimulus packages, spanning South Korea, the US, and Europe, aim not only to recover from the pandemic but to establish resilient and sustainable economies and energy systems. 

Traditional industry boundaries blur, giving rise to novel industrial clusters propelled by renewable molecules and electrons. Anticipating substantial capital deployment, the International Renewable Energy Agency estimates a need for US$13tn to fortify global power networks by 2050. The publication underscores the profound changes ahead, predicting at least US$2tn investment for transforming European electricity networks over the next 30 years, with over US$500bn allocated to the nascent hydrogen export market by 2030. 

In this dynamic landscape, the interplay of electrons and molecules will redefine creation, movement, storage, and end use, paving the way for integrated networks, innovative business clusters, and strategic responses from both public and private sectors. 

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