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Countries Pledge to Triple Nuclear Power Capacity by 2050 for Net-Zero Emissions
Tripling Nuclear Capacity by 2050
More than 20 countries have pledged to triple nuclear energy capacity by 2050 at the latest UN Climate Summit, COP28, held in Dubai. The Declaration was signed by countries including the United States, France, the UK, Japan, Canada and South Korea.
The key aim of tripling nuclear capacity is to achieve global net-zero greenhouse gas emissions by mid-century and keep global warming below 1.5°C, as per the Paris Agreement targets. Expanding nuclear energy is seen as essential to reach net-zero goals and limit fossil fuel use.
The declaration also emphasizes the role of the IAEA in supporting countries to grow their nuclear energy capacity through expertise sharing and technology assistance. Innovative financing mechanisms have also been highlighted to mobilize investments in new nuclear projects. The declaration is the most concrete step taken yet by major nations to place nuclear power at the center of the push to transition to clean energy
Current Nuclear Energy Landscape
According to the World Nuclear Association, nuclear energy provides around 10% of the total electricity globally. As of data from August 2022, 370 GW of installed nuclear capacity is operational across 31 countries worldwide.
To put this in perspective, the International Atomic Energy Agency (IAEA) has said that if all operational reactors were shut down, annual CO2 emissions would increase by about 1.25 gigatonnes- showing nuclear’s key role as a major source of steady, emission-free electricity generation.
Top countries utilizing nuclear power include France which sources ~70% of its electricity from nuclear energy. The United States operates the largest nuclear fleet with around 95 commercial reactors providing over 50 gigawatts (GW) in power capacity. Other major producers are China, Russia and South Korea.
However, overall growth in nuclear power has been slowing down globally in recent years – hence the renewed push to rapidly boost capacities to help nations decarbonize faster.
Need for Expanding Nuclear
Multiple analyses show that rapidly expanding nuclear power capacity is essential for the world to achieve net-zero emissions by 2050. As a zero-emission, steady source of power, growing nuclear generation will be key to displacing fossil fuels from the global energy mix by mid-century.
Recent projections from both the OECD and World Nuclear Association estimate that installed nuclear capacity must triple over current levels to enable the net-zero transition. Other agencies like the IEA and IPCC have also put out similar analyses highlighting the over 2X increase needed in nuclear power through 2050.
The IAEA has calculated that over the past 50 years, nuclear reactors have avoided over 70 billion tonnes of CO2 equivalent emissions globally. This is substantial avoidance that will be crucial to meet challenges in the coming years as well.
So it clear that, countries recognize ambitious expansion plans are vital for nuclear to play its necessary role in decarbonization and keeping global warming limited as per the Paris Agreement’s 1.5 degree goal.
Efforts Towards Growth
New Technologies
To enable expansion, countries are promoting research, development and deployments of advanced nuclear technologies like small modular reactors (SMRs) and next-generation reactors. These feature a smaller footprint, enhanced flexibility in siting and operations, and other benefits.
For example, the United States recently approved its first SMR design by NuScale Power Corporation. More pilots are planned with SMRs that can integrate smoothly with renewable energy as well.
Private Sector Partnerships
Governments are also catalyzing partnerships with nuclear companies focusing on innovative financing and deployment models. The COP28 declaration invites commitments from the private sector and banks to invest in new nuclear projects.
International Cooperation
The declaration also highlights the vital role of the International Atomic Energy Agency (IAEA) in assisting countries to add nuclear power through expertise and technology sharing. Other high-level nuclear summits have been announced for stronger collaboration.
Challenges
While the need for nuclear expansion is clear, significant hurdles remain in some geographies.
One key challenge is high costs and project delays that have plagued nuclear in the past. Plants often see large cost overruns and construction delays stretching timelines which affects feasibilities.
For example, NuScale Power Corporation recently had to cancel an SMR project in the United States partly due to costs doubling to over $9 billion. Managing budgets and timelines will be critical going forward.
Second is public opposition which remains strong in certain countries like Japan and Germany after events like Fukushima. Concerns around safety and waste disposal heighten skepticism. Proper communication and community engagement will be vital to create understanding.
Thus governments and companies need robust plans to tackle both high expenses and people’s opposition towards nuclear projects in their expansion roadmaps.
India’s Potential
India was not part of the COP28 pledge to triple nuclear capacity by 2050. However, the country has major expansion plans for nuclear power in line with its net-zero goal for 2070.
As of 2022, India has an installed nuclear capacity of 6.8 gigawatts (GW) across 22 reactors – representing under 3% of its electricity mix. But with surging power demands, nuclear is set to see rapid growth.
8 new reactors are under construction which will double India’s nuclear fleet capacity to about 13 GW in the coming years. There are also proposals to establish fleet sites with multiple planned reactors.
According to projections, India’s nuclear sector growth through 2070 may need to multiply over 100 times compared to where it stands today in order to meet national power requirements. Ambitious targets for clean baseload generation.
Thus India is gearing up to significantly boost its nuclear energy infrastructure, even if it did not sign the global declaration. Meeting exponentially rising energy needs will call for tapping all sources.
FAQ
Top 5 nation in nuclear energy production?
The top nuclear energy producing countries are:
United States – Has 93 reactors generating 91.5 GW of power
France – Gets ~70% of its electricity from 56 reactors producing 61.3 GW
China – Fastest growing nuclear energy sector with 51 reactors generating 50.8 GW
Russia – Has 38 reactors producing 29.6 GW of nuclear electricity
South Korea – 24 reactors generate 23.2 GW of nuclear power
what is the percentage of nuclear power production in India?
Current Nuclear Energy Production (2022) in India
Contribution to India’s electricity production: 3%.
Total nuclear power generation (2020-21): 43 TWh.
Share in India’s total power generation: 3.11% (out of 1,382 TWh).
Future Goals for Nuclear Energy
Target share of electricity from nuclear by 2047: 9%.
Planned growth in nuclear capacity:
Current (2022): 6,780 MWe.
Target for 2047: 22,480 MWe.
Projected share in India’s power by 2047: **~9%.