Powering Australian agriculture’s future: Barriers to the adoption of alternative energy technologies

  • 68 pages

  • Published: 2 Jul 2024

  • Author(s): KPMG

  • ISBN: 978-1-76053-455-4

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Australia’s agriculture sector faces unprecedented challenges and opportunities in the 21st century. Global demand for food is rising, driven by population growth, urbanisation and changing consumer preferences. At the same time, the sector must adapt to the impacts of climate change, environmental degradation, biosecurity threats and trade disruptions. To thrive in this complex and dynamic context, the sector must harness the potential of alternative energy sources and technologies.

This report, commissioned by AgriFutures Australia and prepared by KPMG, provides a comprehensive overview of the current state and future trends of alternative energy in agriculture, both in Australia and across the world. It identifies the key drivers and enablers of solutions across the value chain, and barriers to their adoption. The report also analyses ways alternative energy startups, investors, research organisations, industry bodies and government agencies can collaborate to create value for the sector and the economy.

The report draws on extensive desktop research, stakeholder interviews and surveys, as well as case studies of leading alternative energy ecosystems and initiatives. It presents a vision and a way forward for Australia to become a global leader in alternative energy in agriculture, with specific recommendations and actions for each stakeholder group. The expected benefits and impacts of alternative energy adoption on productivity, profitability, sustainability and social outcomes are also outlined.

We hope this report inspires the alternative energy community and the agriculture sector to work together to realise the opportunities and overcome the challenges. We believe alternative energy generation and use is not only a source of competitive advantage for the sector, but also a catalyst for transformation and resilience. By embracing alternative energy, we can ensure Australian agriculture continues to contribute to the nation’s prosperity, food security and environmental stewardship.