Without an important contribution from nuclear power, the global energy transition will be that much harder
Nuclear is the second-largest low-carbon power source in the world today, accounting for 10% of global electricity generation. It is second only to hydropower at 16%. For advanced economies –including the United States, Canada, the European Union and Japan- nuclear has been the biggest low-carbon source of electricity for more than 30 years and remains so today. It plays an important role in electricity security in several countries.
However, the future of nuclear power is uncertain as ageing plants are beginning to close in advanced economies, partly because of policies to phase them out but also as a result of economic and regulatory factors. Without policy changes, advanced economies could lose 25% of their nuclear capacity by 2025 and as much as two-thirds of it by 2040, according to the new report, Nuclear Power in a Clean Energy System.
The lack of further lifetime extensions of existing nuclear plants and new projects could result in an additional 4 billion tonnes of CO2 emissions.
Electricity market design must value the environmental and energy security attributes of nuclear power and other clean energy sources
Some countries have opted out of nuclear power in light of concerns about safety and other issues. Many others, however, still see a role for nuclear in their energy transitions but are not doing enough to meet their goals, according to the report.
"Without an important contribution from nuclear power, the global energy transition will be that much harder," said Dr Fatih Birol, the IEA's Executive Director. "Alongside renewables, energy efficiency and other innovative technologies, nuclear can make a significant contribution to achieving sustainable energy goals and enhancing energy security. But unless the barriers it faces are overcome, its role will soon be on a steep decline worldwide, particularly in the United States, Europe and Japan."
"Policy makers hold the key to nuclear power's future," Dr Birol said. "Electricity market design must value the environmental and energy security attributes of nuclear power and other clean energy sources. Governments should recognise the cost-competitiveness of safely extending the lifetimes of existing nuclear plants".