The nuclear industry is grappling with several issues: high interest rates, rising commodity prices, limited supply chains, fuel availability, and a regulatory environment that has been slow to adapt to new technologies.
In the west, nuclear knowhow has faded over the decades. Even with a surge in policy support and public interest, development is stagnant and capacity has fallen. Momentum has moved over to Asia, mostly China. But that’s not nearly enough.
While global renewables have tripled in just over a decade, net global nuclear capacity has barely budged upward. The reality is that we may need to see capacity double – or even triple – by 2050 to keep us on a net-zero path, on top of tripling wind and solar.
So this week, we’ll revisit the stories shaping nuclear power in 2023 and ask: are we getting anywhere closer to unlocking real growth? Or will the industry stay in a perpetual holding pattern?
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