IEA: do you want to be green? You have to double the nuclear!

According to the International Energy Agency (IEA), nuclear power capacity must double globally over the next three decades to achieve net zero carbon emissions targets and ensure energy independence.

The executive director of the Parisian group, Fatih Birol, stressed that nuclear power has a unique opportunity for rebirth in the context of the global energy crisis, skyrocketing fossil fuel prices, energy security challenges and climate commitments. However, he suggested that this is not guaranteed and that it depends on government policies aimed at greater expansion.

Birol said: "It will depend on governments to put in place sound policies to ensure safe and sustainable operation of nuclear power plants for years to come."

In the group's latest report, Nuclear Power and Secure Energy Transitions, the IEA revealed that nuclear power must be significantly increased to achieve the dual goal of security of supply and net zero carbon emissions.

The IEA warned that to achieve net zero emissions, nuclear power capacity must increase to 812 gigawatts (GW) by 2050 from the current 413 GW.

While advanced economies manage nearly 70% of global nuclear capacity, the IEA has found that nuclear fleets in the West are aging, amid blocked investments and over-budgeted projects. The IEA estimates that approximately 260 GW, or 63% of nuclear power plants in the world, are currently over 30 years old and nearing the end of their initial operating licenses.

In 2030, annual nuclear capacity additions will have to reach 27 GW just to compensate for closed power plants, which could shrink by a third over the next decade in developed economies.

To put it in context, the UK's "big new" nuclear wager, which represents a historic boost in nuclear power generation, predicts an increase from 7GW to 24GW over the next three decades. In the meantime, France has big problems even in keeping its plants open and Italy does not know what to do, as always, between NIMBY minorities and inability to plan. Only Romania appears to be rapidly converting to nuclear power.

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The IEA article: do you want to be green? You have to double the nuclear! comes from .

This is a machine translation of a post published on Scenari Economici at the URL on Fri, 01 Jul 2022 10:00:50 +0000.