Nuclear energy, a new era |
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Nuclear energy, a new era
by Alicia Mignone

Electricity demand is is rising fast not only for conventional uses, but also in new areas. Will this element point towards a new era for nuclear power? The IEA report The path to a new era in nuclear energy describes the principal elements supporting this assumption
Multiple elements point towards a new era for nuclear power. The market, technology and policy foundations are in place for the growth of nuclear energy in the coming decades. Electricity demand is rising fast not only for conventional uses but in new areas such as electric vehicles, data centers and artificial intelligence.
The International Energy Agency (IEA) in a recent report titled The path to a new era in nuclear energy depicts the principal elements that support this assumption: the current role of nuclear energy, the recent market developments, the main drivers of its renewed interest, potential shifts in technological leadership and nuclear energy competitiveness.
The role of Small modular reactors (SMR) is highlighted as a possible catalyst for change. The supply chains - in particular uranium supply and enrichment services - are noted as essential for a secure and affordable expansion of the nuclear sector. The mobilization of new sources of finance is considered crucial to reach these objectives.
Nuclear projects have traditionally been hard to finance due to their scale, capital intensity, long construction lead times, technical complexity and risk liability in some Countries. Public funding needs to be complemented by private financing. The paper presents a snapshot of the themes listed above.
Status of nuclear energy
Global investment in nuclear energy was in decline around the turn of the century due to high costs, long construction times and ongoing concerns about the safe operation of nuclear plants and secure disposal of high-level nuclear waste. But there has been a resurgence in interest in nuclear energy in recent years, driven by energy security concerns, the growing need for dispatchable low-emissions power capacity and advances in nuclear technology.[...]
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