The United States has set ambitious targets to triple its nuclear energy capacity by 2050, signaling a significant shift towards nuclear power as a cornerstone of its clean energy strategy. This initiative is part of a broader global effort to expand nuclear energy to combat climate change and enhance energy security.
Key Takeaways
- The U.S. aims to add 35 GW of new nuclear capacity by 2035 and achieve a sustained pace of 15 GW per year by 2040.
- This aligns with a global commitment to triple nuclear capacity by 2050.
- New policies and investments, including those from the Bipartisan Infrastructure Law and Inflation Reduction Act, are crucial to this expansion.
- The UK is also undertaking its largest nuclear expansion in 70 years, streamlining regulations and investing in advanced nuclear fuel production.
Driving Nuclear Expansion
The U.S. Department of Energy estimates a need for an additional 200 gigawatts (GW) of new nuclear capacity by 2050 to meet future power demands and achieve net-zero emissions. To reach this goal, the U.S. has established new deployment targets, aiming to add 35 GW by 2035 and maintain a pace of 15 GW annually by 2040. This framework includes over 30 government actions to support industry growth.
Nuclear energy is currently the largest source of clean power in the U.S., preventing over 470 million metric tons of carbon dioxide emissions annually. The expansion will rely on building new reactors at a pace not seen since the 1970s, utilizing design standardization and new manufacturing techniques. Both large-scale reactors and new small modular and microreactor designs are expected to contribute to this growth.
Policy and Investment Fueling Growth
Legislation like the Bipartisan Infrastructure Law and the Inflation Reduction Act are providing crucial investments and tax incentives. These policies are making nuclear power a more economically viable option for reducing emissions and strengthening national security. Preliminary research suggests that existing nuclear plant sites could host up to 60 GW of new capacity with large-scale reactors, and potentially 95 GW with small modular reactors. Additionally, former coal plant sites could accommodate a significant amount of new capacity, leveraging existing infrastructure and local workforces.
UK’s Nuclear Renaissance
Meanwhile, the United Kingdom is embarking on its most substantial nuclear expansion in seven decades. The government is overhauling planning rules to facilitate the construction of nuclear power plants, including Small Modular Reactors (SMRs), for the first time. This initiative aims to create thousands of skilled jobs, lower energy bills, and bolster the nation’s energy security.
The UK’s Civil Nuclear Roadmap outlines plans to quadruple nuclear power capacity to 24 GW by 2050, enough to supply a quarter of the country’s electricity. A significant investment of up to £300 million is earmarked for domestic production of High-Assay Low-Enriched Uranium (HALEU), a crucial fuel for advanced reactors, thereby reducing reliance on Russia. The UK aims to become the first country in Europe to launch such a high-tech nuclear fuel program.
