According to the World Nuclear Industry Status Report released on Monday, the record level of global nuclear power production achieved in 2024 will be difficult to sustain in the coming years.
This is attributed to insufficient investment, the aging of existing plants, and disruptions to ongoing projects.
Nuclear power is currently experiencing a significant resurgence globally, driven by a growing imperative for nations to transition away from fossil fuels and combat climate change.
Renewed interest in nuclear power
This renewed interest stems from nuclear energy’s inherent advantages as a low-carbon, dispatchable power source.
The US, in particular, has emerged as a vocal proponent of nuclear energy, making it a central focus of its energy policy.
This commitment is evident in the recent legislative efforts and strategic initiatives aimed at bolstering domestic nuclear production and fostering international collaboration.
The US has actively pursued and secured numerous agreements with other countries, signifying a concerted effort to expand nuclear energy’s role on a global scale.
These agreements often involve sharing expertise, technology, and financial support to accelerate the development and deployment of advanced nuclear reactors.
Beyond the US, a diverse range of countries, from those with established nuclear programs to emerging economies, are exploring or re-evaluating nuclear power.
Factors influencing this trend include energy security concerns, the volatility of fossil fuel markets, and the increasing urgency to meet ambitious climate goals.
The development of smaller, more modular reactors (SMRs) is also contributing to this revival, offering greater flexibility and potentially lower construction costs, making nuclear power a more attractive option for a wider array of nations.
Rise of SMRs and outlook
In 2024, global nuclear power generation rebounded to a record 2,677 terawatt-hours, primarily driven by China’s growth, according to the nuclear industry status report data. This follows a two-year decline in nuclear power output.
However, the report indicated that maintaining current global nuclear output levels through 2030 would necessitate 44 additional startups beyond those already planned.
This would require an annual startup rate approximately two and a half times faster than that of the past decade.
The report, an annual publication collaboratively produced by various research groups, predicted that several factors will affect growth and lead to a decline in regional electricity production shares.
These factors include risks associated with aging fleets, slow construction, increasing system disruption from renewable energy, and China-centric development.
Competition and delays
It further indicated that competition from more affordable non-hydro renewables and battery storage is anticipated to have a widespread effect.
Last year, investment in renewables was 21 times greater than in nuclear power, and the added capacity from renewables exceeded net nuclear additions by over 100 times.
A significant decline in battery costs, roughly 40% in 2024, in contrast to the continued increase in nuclear plant expenses, according to the report.
The report said:
Together these new technologies are evolving towards a highly flexible fully electrified energy system… outcompeting traditional centralized fossil and nuclear systems.
Global nuclear power projects are experiencing significant delays. From 2020 to mid-2025, 44 out of 45 new construction projects worldwide were initiated by Chinese or Russian state-owned companies in countries like Egypt and Turkey.
The report highlighted that there is no strong global expansion of nuclear power, and its contribution to global power generation is expected to decline further from 9% in 2024, unless project execution and economic viability show substantial improvement.
Additionally, western countries have not yet begun construction on any SMR despite increased public and private investment, and these largely remain an aspiration.
China is an exception, with two SMR designs either operating or under construction, though detailed operational data are scarce.
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