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Nuclear power generation could help the world decarbonize energy amid growing global demand for electricity with the ‘electrify everything’ push, including in transportation.
Nuclear power can do that, and its low lifecycle emissions can generate additional low-emission electricity to complement wind and solar energy.
Under the same base case, nuclear power capacity is set to increase by 280 gigawatts (GW) by 2050.
Despite growing government support for nuclear energy in several countries, the economics of nuclear energy at its current state of development and innovation just doesn’t add up.
Conventional nuclear power reactors and stations require billions of upfront investment and often face project cost overruns, while the next-generation reactors and small modular reactors are not cost-competitive now, either.