Powering the future of the energy industry

The energy industry has often been at the forefront of change, illuminating the possibilities to build, power, and protect what matters most. From energy transition to digital innovation, as transformation continues, join us in this 5x5 series as Deloitte’s energy, resources and industrials (ER&I) leaders share how your organization can take your business to new heights, with confidence.

Moving ahead with confidence

The ER&I industry has been vital to global economic health, and it will likely continue to be so in the future. Deloitte’s ER&I leaders explore the drivers that are fueling energy transition and digital transformation as well as the opportunities that may lie ahead. 

Looking back at the past three years, we saw important industry trends around:

• Renewable energy: Countries increasingly became ambitious with renewable energy targets—with solar, wind, and hydropower growing in popularity and usage.
• Electric vehicles: A significant momentum in the electric vehicle market led to plans to phase out gasoline-powered vehicles.
• Energy storage: It became easier to store and use renewable energy.
• Energy efficiency: Businesses and governments reduced energy consumption and waste.
• Digitalization: The increased use of data analytics, artificial intelligence (AI), and the internet of things (IoT) helped enhance energy production and consumption.
• Energy transition: Many organizations began the transition from fossil fuels toward cleaner energy sources—helping reduce greenhouse gas emissions and combat climate change.
  

Looking ahead, we expect some significant opportunities:

• Renewable energy: The momentum is expected to continue as businesses and governments aim to reduce their carbon footprint.
• Energy storage: The increasing number of batteries and pumped hydro storage will allow better integration of renewable energy sources into the grid.
• Digitalization: AI, machine learning (ML), and IoT are expected to enable more efficient and cost-effective operations.
• Electrification of transportation: The demand for more charging infrastructure is expected to continue.
• Energy efficiency: Organizations will continue to explore ways to reduce energy consumption and costs.
• Decentralization: Efforts toward decentralizing energy systems, such as microgrids and community solar, will likely continue—allowing greater energy independence and resilience.