A Prosperous Future: Clean energy

Clean energy collaboration opportunities for Australia and the US

Australia’s relationship with the United States (US) is economically and strategically significant for both countries.

As we face a growing list of technological, geopolitical, economic, environmental and social challenges, the strength of the US–Australia relationship remains essential.

These pressures will test the resilience of both nations, but also create exciting new opportunities for business collaboration.

Since 2023, KPMG has partnered with AmCham in Australia to examine the industries we believe will shape the future of the US–Australia economic and strategic partnership over the next 50 years. The resulting report series – A Prosperous Future – identified 6 key industries, including Clean Energy, the subject of this report.

Download the report

A Prosperous Future: Clean energy

Clean energy opportunities for Australia and the United States.

Download

Report highlights

KPMG modelling reveals enormous potential for Australia under the exponentially growing US clean energy market conditions — If Australia can increase its market share here, it could generate up to US$3.7b in exports, US$4.1b in incremental capital investment, and nearly 12,500 Australian jobs within nearly a decade.
The US will lean on partnerships internationally to secure its clean energy supply chain. To capitalise on this, Australia must make use of its natural advantages in critical minerals, undertake further value-adding activity on raw minerals, use its high-quality engineering talent pool and proven innovation abilities. The 2025 Critical Minerals Framework signed by Australia and the US is an example of just such a partnership.
The pace and scale of change in the global clean energy industry is vast and countries are seeking closer cooperation with their trusted partners to ensure clean energy security. Australia, as a trusted and large-scale supplier of critical minerals, stands to benefit from growth in the global clean energy industry. Australia has some of the largest raw lithium reserves globally and supplies about 50 percent of the world’s lithium.

A Prosperous Future: report series

Our first report, Key industries for Australia/US collaboration identifies six emerging industries key to the future of the US and Australia partnership – AI, digital economy, quantum computing, biotechnology, space industry, and energy and clean technology.

The second report, Emerging tech examines opportunities for trade, investment and skilled employment creation in AI, quantum science and the digital economy. It analyses their commercial benefit to Australia and go-to-market strategies.

Our third report, Space industry explores opportunities, insights and analysis into how space technology and emerging space industries may shape Australia’s future economic relationship with the US.

This fourth report – Clean energy – focuses on opportunities for trade and investment in the renewables sector. Specifically, Australia’s participation in the US clean energy market within the context of changing geopolitics and foreign investment regulations. It also provides factors for success for Australian business looking to be part of this.

Our final report, Biotech, examines the growing opportunities that the biotechnology sector offers to both the US and Australia, highlighting opportunities for collaboration.