Fortune OF NUCLEAR ENERGY!

Nuclear energy is one of the pure forms of energy, but it faces challenges, and the future of nuclear power is unsure.

Fremont, CA: Nuclear power is dropping its grip in the energy sector. Based on the International Energy Agency, the contribution of nuclear energy to electricity generation has dropped from 18% in the mid-1990s to 10% today. Further, the agency predicts the contribution from 10% to 5% by 2040 unless governments worldwide take measures as nuclear reactors can generate energy with low greenhouse gas emissions. Therefore, the IEA says, to meet the world's energy necessities and curb climate change, low carbon electricity generation must maximize from the current 36 % to 85 % by 2040.

The global energy transition will be easier with increased contribution from nuclear power. Alongside renewables, nuclear power can significantly contribute to achieving sustainable energy goals. Still, hurdles such as aging reactors, high costs to build new ones, the amount of nuclear energy needed in the world's energy mix, and safety concerns exist.

France is the most nuclear-dependent country, with 70 percent of electricity produced from reactors. Still, the US leads with 98 power plants producing 105 GW. France has 58 reactors and produces 66 GW of electricity. The reactors in countries like the US, Russia, and the European Union are old and meet their designed lifetimes of 40 years. Based on IEA analysts, building new nuclear power plants based on old designs is highly doubtful in developed economies. Old models are conventional, need long construction times, and are costly to build. Also, the electricity marketplace in the US is very competitive as nuclear power has to compete with cheaper alternatives such as natural gas, wind, and solar.

The nuclear industry's future depends on the new generation of smaller and modular reactors that produce less than 300 MW each. These power plants are yet under development. The IEA estimates the cost for maintaining a nuclear reactor for an additional 10-20 years—as per their designed lifetime—would be 500 million to 1 billion USD per GW. IEA says it is equal to manufacturing a renewable energy system of the same size. Still, it would effectively generate 1 GW of new, low-carbon electricity without the delay of setting up a new solar or wind farm.          

The US's Nuclear Regulatory Commission (NRC) has extended the operating licenses of 90 operating reactors out of 98 from 40 to 60 years. Now, the industry is thinking of renewing the reactors for up to 80 years. As per IEA reports, other countries plan to extend the lifetime of existing reactors for a shorter period. The UCS (Union of Concerned Scientists), a nonprofit organization, terms these extensions a 'nuclear power dilemma.' The organization has often been a nuclear industry critic. However, Rachel Cleetus, the UCS's climate and energy policy director, said, "We are aware of climate change and the steps required to decrease greenhouse gas emissions." The UCS's solution to reducing carbon dioxide emissions is introducing a low-carbon electricity standard for all energy sources. The UCS believes that it would bolster the construction and development of low-carbon energy facilities and technologies by taking specific measures.        

The UCS improves the temporary funding for the extension of some plants, safety needs conditioned on rate protection for consumers, and large investments in renewables and energy efficiency. Based on UCS's scenarios and mathematical models, nuclear power will supply 16 % of the world's electricity generation by 2050, even with financial support. The discussions about the power plants' costs, operating lifetimes, safety and risks of nuclear reactors, and radioactivity have made nuclear power unpopular in the US, Germany, Japan, and other countries. The future of nuclear power will initiate the world's need for energy security and impact climate change.