The Energy Transition

Make your energy transition add up to more. From greener supply to leaner demand - delivering radical decarbonisation by scaling up renewables, building greener and operating smarter.

Thrive through transition

To win this race, every industry needs to do more – and use less. Delivering radical decarbonisation by scaling up renewables, building greener and operating leaner. By creating sustainable outcomes for people, planet and performance, we can help you target the change that matters to make the transition add up to more.

PwC at World Energy Congress 22 - 25 April
PwC is the platinum sponsor at this year's World Energy Congress. Join us on April 22.25 and find out how you can thrive though the energy transition. Find out more.

Discover content

Professor Michael Pollitt on the Energy Transition

Prof. Michael Pollitt (Professor of Business Economics, Judge Business School, Cambridge University) on the market design systems required to meet net zero goals and the key uncertainties that remain for a global energy transition.

Question [00:00:03]

“How do you see the energy transition in a broader economic context? Do we have the market design system in place to achieve net zero goals?”

Prof. Michael Pollitt [00:00:09]

The energy transition is about pricing the carbon externality, and that's about raising the price of carbon in the global economy in order to reduce the externality. So that is, you know, the fundamental economic problem that we need to deal with.

Question [00:00:27]

“Where do you see Europe, the US, Africa and Asia on the energy transition runway? What are some interdependencies?”

Prof. Michael Pollitt [00:00:34]

I think that Europe is clearly ahead in terms of making progress with the energy transition, both in terms of the setting of targets and getting those into legislation, but also in terms of policies being put in place that would actually deliver net zero.

Then I think other places are at various stages. I think the US is beginning to do things at the federal level, in addition to the things it's already been doing at the state level in some states, where essentially California and New York, New England have got European style energy and climate targets, and then other places, you know, can be brought along as part of the energy supply chain.

I think China remains a very hopeful location for the world, both in terms of delivering low carbon energy equipment, but also eventually implementing low carbon policies. 

Question [00:01:31]

“Do you think there are any key uncertainties that remain in the energy transition agenda and the move to net zero?”

Prof. Michael Pollitt [00:01:36]

We're getting to the point where energy transition is going to be expensive.

We've been doing the easy things so far, which are the decarbonisation of the power sector with wind and solar. Once we begin to move on to heating and transport, things get significantly more difficult.

I think transport, there are good signs in terms of battery technology in the emergence of electric vehicles, but you know, still that's posing problems in terms of supply chains and the delivery of the quantity of vehicles that we might need.

And in heating, we're only just beginning to grapple with the political costs of a heat transition, which are gonna create very different costs for individual households depending on which heating technology they've got the possibility to adopt.

Playback of this video is not currently available

2:40

Professor Michael Pollitt on the Energy Transition

Prof. Michael Pollitt (Professor of Business Economics, Judge Business School, Cambridge University) on the market design systems required to meet net zero goals and the key uncertainties that remain for a global energy transition.

View Transcript
Text CTA

Energy Intersections - a content programme in collaboration with the Financial Times

Energy is the nexus, not only for connecting groups in new ways but as the source of strategic innovation for a net zero economy. These intersections will shed light on emerging marketplaces, products and ecosystems that will fuel the net zero economy. Visit our sponsored content hub to learn more.

Article 25 minutes read December 15, 2022

The hydrogen energy transition: crunching the numbers

Hydrogen may be crucial in the successful implementation of a net-zero strategy. Rapidly determine if the switch to hydrogen is worth it and build a first business case analysis. The online calculator enables you to quickly assess your application-specific hydrogen requirements and related electricity requirements
Get started

Hydrogen energy transition image

{{filterContent.facetedTitle}}

{{contentList.loadingText}}

Contact us

Jeroen  van Hoof

Jeroen van Hoof

Energy, Utilities and Resources Leader, Partner, PwC Germany

Tel: +316 5160 9178

Jürgen Peterseim

Jürgen Peterseim

Sustainability Services, Director, PwC Germany

Ryan Hawk

Ryan Hawk

Global Industrial Manufacturing & Automotive Leader, Principal, PwC United States

Eric Janson

Eric Janson

Global Private Equity, Real Assets and Sovereign Funds Leader, PwC United States

Tel: +1 617-834-4900

Agnieszka Gajewska

Agnieszka Gajewska

Global Government & Public Sector Leader, PwC Poland

Tel: +48 227 466 131

Folker Trepte

Folker Trepte

Energy, Utilities and Resources Leader, PwC Germany

Tel: +49 89 5790 5530

Olesya Hatop

Olesya Hatop

Global Energy, Utilities and Resources Industry Executive, PwC Germany

Tel: +49 211 981 4602

Paul Harvey

Paul Harvey

Global Industrial Manufacturing & Automotive Executive, PwC United Kingdom

Tel: +44 7738 845 605

Clara Cutajar

Clara Cutajar

Global Capital Projects & Infrastructure Leader, PwC Australia