The energy transition could be profound – and there's a lot to lose for those who can't keep up

The energy internet, the 'smart' grid, solar energy and battery storage are converging and the economic benefits are clear

Change is coming to the energy landscape. A transition to a new energy economy is happening. In a country like Australia - awash with energy both under and above the ground - this transition could be rapid and profound. There is a lot to lose for those who can't keep pace.

Last month the government committed $1bn to the Clean Energy Innovation Fund. The fund will have "the primary purpose of earning income or a profitable return" on debt and equity extended to renewable energy, energy efficiency and low-emissions technologies. While many will argue the right way for that money to be used, investment like this is well timed.