Innovation and export opportunities of the energy transition

Energy transition is happening globally and in Australia and Germany. It is occurring in response to rapidly changing technology costs and as countries move to implement policies in line with the Paris Agreement goals. This transition poses policy and technological challenges. If managed well, it can also deliver great economic opportunities in both Australia and Germany. Insights about the implications of the global energy transition for Australia and Germany that have become evident from the Energy Transition Hub's work. A series of papers have been published by the Energy Transition Hub to share these insights. This paper focuses on the substantial and complementary export opportunities emerge for Germany and Australia as a result of the move to energy networks powered by renewables, electrification of other sectors of the economy, the transition to zero emissions synthetic fuels and growing demand for zero-emissions metals and energy intensive goods. Australia, with its plentiful wind and solar energy resource, available land, and stable regulatory and institutional environment, is well positioned to become a leading exporter of renewable energy and renewable-based energy-intensive goods. Germany, as a leading manufacturer and engineering innovator of energy transition technologies, can benefit from an increasingly global deployment of technologies for renewable energy transformation, conversion and the electrification of energy end-uses. This is one paper in a series of four as part of the Energy Transition Hub's Synthesis Reports.