The following article is based on the plenary presentation given by Mildred S. Dresselhaus of the Massachusetts Institute of Technology on November 29, 2004, at the Materials Research Society Fall Meeting in Boston. Advanced materials offer new promise for addressing some of the grand societal challenges of our future, including that of global energy. This article will review opportunities that have opened up at the nanoscale, with materials of reduced dimensionality and enhanced surface-to-volume ratio. Some examples of research accomplishments and opportunities at the nanoscale will be described, with special attention given to the potential for advanced materials and nanoscience to have an impact on the grand challenges related to a sustainable energy supply for the 21st century and beyond.