Power Surge: Renewed Interest in Nuclear Energy

Abstract

Just past its 50th birthday, commercial nuclear energy is experiencing a tentative rejuvenation that could result in a greater role as a global source of electricity. Skeptics still harbor many of the objections that have slowed or stopped the construction of new nuclear power plants, but rising concerns about the cost and security of energy supplies and global climate change have reframed the debate in terms more favorable for nuclear power advocates. As a result, the question of whether governments should encourage the construction of new nuclear power plants is no longer off the table in developed countries such as Australia, the United Kingdom, and the United States. For other developed countries such as France and Japan, and for countries with fast-growing economies such as China and India, nuclear energy has remained a central component of energy policy. For example, to achieve its goal of generating 4% of electricity from nuclear power, China plans to add more than 30 new nuclear plants by 2020 to the 11 currently in operation or under construction. India’s goal is to supply 25% of its electricity from nuclear power by 2050. Worldwide there are now 440 nuclear power reactors operating in 31 countries and producing a combined capacity of 367 gigawatts electric, or about 16% of the world’s supply of electricity. The Vienna-based International Atomic Energy Agency (IAEA)—the agency of the United Nations chartered to promote cooperation on nuclear issues—estimates that at least 60 new nuclear plants will be constructed in the next 15 years. Given the world’s growing demand for electricity, however, this added capacity will still account for only 17% of global electricity use.