The Energy Transition Show with Chris Nelder

Three years after Russia’s invasion of Ukraine and the resulting Western sanctions, the country remains an oil and gas powerhouse. Despite falling from the world’s second-largest to third-largest global oil producer and seeing its export rankings decline, Russia continues to delay the global energy transition as a major fossil fuel supplier and geopolitical force. Western observers often struggle to understand Russia’s future role in energy geopolitics and the intentions of President Vladimir Putin. To shed light on these questions, we welcome back Thane Gustafson, Professor of Government at Georgetown University and a leading authority on Russian political economy. He is the author of many books, notably Klimat: Russia in the Age of Climate Change, which we covered at length in Episodes #162 and #163. In this nearly two-hour conversation, we explore his newest book, Perfect Storm—Russia’s Failed Economic Opening, the Hurricane of War and Sanctions, and the Uncertain Future. Gustafson carefully explains how Russia’s post-Soviet reopening to the West failed, how the Crimea occupation precipitated that failure, and where Western sanctions have succeeded or failed in containing Putin’s ambitions. We examine Russia’s oil and gas resources, infrastructure, business capacity, and the evolving relationships between Russian oligarchs and Western governments. The discussion reveals how Russia has evaded energy export sanctions, unpacks Putin’s motivations, and assesses Russia’s fading fortunes as global energy transition efforts accelerate.

This episode continues our miniseries on Australia’s energy transition. In late 2024, Chris traveled to Australia and recorded interviews with a wide range of experts who are intimately involved in the energy transition there. Previous episodes in this miniseries are Episode #234, Episode #235, Episode #246, and Episode #247. In this episode, we feature three researchers and entrepreneurs in Australia who are advancing solar technology research and development: Martin Green, Professor at University of New South Wales, Sydney and Director of the Australian Centre for Advanced Photovoltaics. Craig Wood, CEO of Vast Energy, a concentrated solar thermal power (CSP) company. Richard Payne, CEO of RayGen, a concentrated solar PV and solar thermal company. In the next and final episode in this miniseries, we’ll take a close look at how one Australian state is solving the challenges of knitting together customer-owned systems into a reliable power grid.

Although geothermal power plants have operated commercially in various parts of the world for decades, the sector hasn’t attracted the investment needed to reduce costs and enable global deployment. But with further development, new methods of harnessing geothermal energy to produce heat and electricity could deliver as much as 800 GW of geothermal power capacity worldwide by 2050. That’s equivalent to the electricity demand of the United States and India combined. In December 2024, the International Energy Agency (IEA) published “The Future of Geothermal Energy,” a report exploring opportunities in this sector. Our guest today is a lead author of that report. In this conversation, Heymi Bahar, Senior Renewable Energy Analyst with the IEA, discusses geothermal energy’s full technological potential and strategies for unlocking investment in this promising resource.

This episode is part of a miniseries about Australia’s energy transition. In late 2024, Chris traveled to Australia and recorded interviews with experts closely involved in its energy transition. The first of those interviews was featured in Episode #234, and the second in Episode #235. In Episode #246, we explored how the Australian government is working with the grid power sector to plan its transition to renewables while maintaining system reliability. In this episode, we explore innovative approaches Australia is using to manage the evolution of its energy system. To tell this part of the story, we weave together the perspectives of several guests: Darren Miller, CEO of ARENA, explains their investment focus on early-stage technologies. Gabrielle Kuiper, energy and climate change professional, shares insights on DER integration across Australia. Stephanie Unwin, CEO of Horizon Power, discusses the unique challenges of managing a remote utility in Western Australia. Professor John Boland describes how he and his wife used low-tech solutions to transform an uncomfortable old house into a comfortable urban oasis. In the next miniseries episodes, we’ll explore more innovations in solar power and take a close look at how one Australian state is solving the challenges of knitting together customer-owned systems into a reliable power grid.

This episode is part of a miniseries about Australia’s energy transition. In late 2024, Chris traveled to Australia and recorded interviews with a wide range of experts who are closely involved in its energy transition. The first of those interviews was featured in Episode #234, and the second in Episode #235. In this episode, we’ll see how the Australian government is working with the grid power sector to plan and execute its transition to renewables—despite a political opposition committed to fossil fuels and nuclear. We’ll also explore what’s being done to ensure adequate capacity and maintain system reliability during this transformation. To tell this story, we weave together the perspectives of several guests: Chris Bowen, Minister for Climate Change and Energy for the Australian Labor Party, explains Australia’s decarbonization targets and the government’s framework to achieve them. Matt Kean, Chair of Australia’s Climate Change Authority, shares his team’s findings about the best pathways to meet those targets. Alex Wonhas of AMPYR shares insights from helping grid operator AEMO develop Integrated System Plans that describe how to evolve the system toward those targets while maintaining reliability. Tristan Edis of Green Energy Markets discusses the technical considerations of orchestrating new grid power resources. In the subsequent episodes in this miniseries, we’ll be exploring how Australia is using innovation to meet the challenges of the transition. We’ll also take a closer look at how they use DER integration to support the system while helping customers gain more control over their energy bills and even save money.

In the first part, Episode #240, we reviewed the UK’s unique strategies for procuring energy transition solutions. In the second part, Episode #241, we covered how the nation’s energy regulator is driving investment to support the transition. To conclude this miniseries, we welcome back Julian Leslie, who first joined us in Episode #174. Julian is now Director of Strategic Energy Planning and Chief Engineer at Britain’s National Energy System Operator (NESO), a recently-created agency tasked with preparing Great Britain’s electricity network for net zero operation by 2030. He also coordinates regional and national plans for Britain’s energy system—including gas and emerging heat networks—to meet decarbonization targets. In this conversation, we review the progress of the innovative Pathfinder programs we discussed back in 2022, which invited the market to provide solutions that could help Britain integrate more wind and solar into its grid. We walk through the extensive process that NESO is undertaking to plan and coordinate the development of a fully decarbonized power grid by 2030. And we discuss in detail how Britain is working to massively expand its capacity in offshore and onshore wind, solar, transmission, and battery storage to meet that goal. By setting clear decarbonization targets, then collaborating with industry and stakeholders to carry out plans to meet them, the UK is showing the world how to execute a successful energy transition. We hope this miniseries inspires other nations to follow their example.

What makes for effective and enduring green industrial policy? How can public and private investment mobilize to achieve the Paris Agreement’s 1.5°C goal? Can Trump undermine climate science and the global energy transition, or will the rest of the world carry on without the US? Which policy designs can drive equitable green growth, ensuring the energy transition benefits economically disadvantaged and indigenous communities? Today’s guest, Mariana Mazzucato, is a Professor in the Economics of Innovation and Public Value at University College London and the Founding Director of the UCL Institute for Innovation & Public Purpose. An author of four influential books on shaping capitalism, growth, and economic policy for the public good, she advises governments worldwide on innovation-led inclusive and sustainable growth. She chairs several governmental and inter-governmental organizations and produces reports designed to shape economic policies, particularly in the developing world. In these challenging times of economic upheaval, Mariana’s ideas offer valuable guidance for policymakers as they craft industrial strategies to advance the energy transition.

Heat pumps work almost like magic—delivering several times more heat energy than the electricity they require to run. Modern heat pumps are so efficient, they can even extract warmth from freezing temperatures, keeping buildings comfortable despite the cold outdoors. With many policymakers seriously exploring ways they can accelerate heat pump adoption, we thought now is the perfect time to offer some specific and useful guidance on designing effective approaches for realizing this goal. Our guest today is Dr. Richard Lowes, a specialist in heating technology and policy with the Regulatory Assistance Project in Europe. He also co-chairs the Clean Heat Forum international policy network. Richard has advocated for heating policy since earning his doctorate in the subject from the University of Exeter a decade ago, advising the Scottish government’s heat decarbonization programme board, various UK parliamentary select committees, and serving in multiple roles within the UK government. In this episode, we discuss why the energy transition requires us to fix leaky buildings, tradeoffs between energy efficiency upgrades and simply swapping out old boilers for heat pumps, the best policies to encourage heat pump adoption, and the measures available in Europe to support all these efforts.

Tim Gould, Co-head of the World Energy Outlook at the International Energy Agency (IEA), discusses vital trends influencing the energy transition. He reveals that global fossil fuel demand is expected to peak within five years, reshaping markets and geopolitics. The conversation explores the surge in low-emission electricity sources, particularly wind and solar, projected to dominate power generation by 2030. Additionally, they delve into rising energy demands from data centers, evolving expectations for hydrogen, and the urgent investments required to meet climate targets.

This episode is the second in a miniseries about how the UK is transforming its energy system. If you missed Part One, featuring Adam Berman discussing the UK’s decarbonization progress, you can find it here. In this conversation, Luke Ames Blackaby from Ofgem, the UK’s electricity and gas regulator, joins us to discuss how the agency is supporting technology development to meet the UK’s 2030 clean power and 2050 full decarbonization targets. We explore a wide range of critical topics, including flexible electricity tariffs, cost-effective expansion of the transmission system for renewable energy, and adapting gas networks for hydrogen. Additionally, we cover integrating heat networks, leveraging electrified rail as a flexible demand asset, and using storage to manage variable renewable generation. Finally, we examine how regulations can evolve to accommodate emerging technologies like demand flexibility and optimize existing infrastructure.