New International Energy Agency report highlights impacts of decline in use of nuclear power
A new report by the International Energy Agency (IEA) says that a steep decline in the use of nuclear power in advanced economies could increase carbon emissions by 4 billion tons.
The report, Nuclear Power in a Clean Energy System, notes that policies to phase out nuclear plants, as well as economic and regulatory factors, are causing aging plants to close in advanced economies. These economics could lose 25 percent of their nuclear capacity by 2025 and two-thirds by 2040, the IEA said.
“Without an important contribution from nuclear power, the global energy transition will be that much harder,” IEA Executive Director Fatih Birol said. “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.”
The report found that extending the operational life of existing nuclear plants requires substantial capital investment but that its cost is competitive with other electricity generation technologies and can help enable a more secure, less disruptive energy transition.
Market conditions, however, are unfavorable for lengthening the lifetimes of nuclear plants, the IEA said, and investment in new nuclear projects also presents significant challenges.
“Policy makers hold the key to nuclear power’s future,” 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.”
