The nuclear power industry is grappling with several issues: high interest rates, rising commodity prices, supply-chain constraints, limited fuel availability and a regulatory environment that has been slow to adapt to new technologies.
In the West, nuclear know-how has faded over the decades. Even with a surge in policy support and public interest, development is stagnant and capacity has fallen. Momentum has moved over to Asia, mostly China.
While global renewables have tripled in just over a decade, net global nuclear capacity has barely budged upward. The reality is that we may need to see capacity double — or even triple — by 2050 to keep us on a net-zero path, on top of tripling global wind and solar capacity.
So this week, we’ll revisit the stories shaping nuclear power in 2023. Are we getting anywhere closer to unlocking real growth? Or will the industry stay in a perpetual holding pattern?
Recommended resources
- Breakthrough Institute: Advanced nuclear is in trouble
- E&E News: What’s next after the NuScale cancellation
- Canary Media: The future of small reactors at stake as NuScale deal flops
- Bloomberg: U.S., U.K. lead pledge to triple nuclear power by 2050
Sign up for Latitude Media’s Frontier Forum on January 31, featuring Crux CEO Alfred Johnson, who will break down the budding market for clean energy tax credits. We’ll dissect current transactions and pricing, compare buyer and seller expectations, and look at where the market is headed in 2024.
