Overview of the Nuclear Industry up to date
The nuclear industry is undergoing a phase of renewal, though cautious, after a period of stagnation in the 2010s. It remains a strategic pillar for many countries, at the crossroads of energy, climate, economic and geopolitical issues.
Role in the Energy Transition
Nowadays, nuclear power is recognized as a low-carbon, dispatchable source of electricity capable of continuous production. In the context of slowing climate change while reducing dependence on fossil fuels, several countries consider nuclear energy as an essential complement to renewable energies (wind, solar), which are intermittent.
A Contrasting Global Landscape
- Pro-nuclear countries: France, China, Russia, South Korea, and more recently, the United Kingdom and some Eastern European countries are currently investing in new reactors.
- Retreat from or phase-out of nuclear power: Germany has closed its power plants, while other countries remain hesitant for political, economic, or societal reasons.
- New entrants: Countries like the United Arab Emirates and Turkey are developing their first nuclear capacity.
Industrial and Economical Challenges
The area is currently facing some obstacles.
- High costs and budget overruns on major reactor projects.
- Long construction times, which tend to hinder investment
- The existing fleet are aging, particularly in Europe and North America, requiring extension or replacement programs.
- Radioactive waste management, remaining a sensitive political and societal issue.