In Russia, Rosatom's deputy general director Vyacheslav Pershukov said in June that the world market for new nuclear power plants is shrinking, and the possibilities for building new large reactors abroad are almost exhausted. He said Rosatom expects to be able to find customers for new reactors until 2020-2025 but "it will be hard to continue."
In Switzerland, voters supported a May 21 referendum on a package of energy policy measures including a ban on new nuclear power reactors. Thus Switzerland has opted for a gradual nuclear phase-out and all reactors will probably be closed by the early 2030s, if not earlier (while all of Germany's reactors will be closed by the end of 2022 and all of Belgium's will be closed by the end of 2025).
Globally, the industry's biggest problem is the ageing of the current fleet of reactors. The International Atomic Energy Agency (IAEA) estimates that just to maintain current capacity of 392 GW, about 320 new reactors (320 GW) would have to be built by 2050 to replace retired reactors. That's 10 new reactors each year. A nuclear 'renaissance' has supposedly been underway over the past decade yet on average only five reactors have come online each year.
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Comparison with renewables
The IAEA has released the 2017 edition of its International Status and Prospects for Nuclear Power report series. It states that the share of nuclear power in total global electricity generation has decreased for 10 years in a row, to under 11% in 2015, yet "this still corresponds to nearly a third of the world's low carbon electricity production." In other words, renewables (24.5%) generate more than twice as much electricity as nuclear power (10.5%) and the gap is growing rapidly.
Five years from now, renewables will likely be generating three times as much electricity as nuclear reactors. The International Energy Agency (IEA - not to be confused with the IAEA) recently released a five-year global forecast for renewables, predicting capacity growth of 43% (920 GW) by 2022. The latest forecast is a "significant upwards revision" from last year's forecast, the IEA states, largely driven by expected solar power growth in China and India.
The IEA forecasts that the share of renewables in global power generation will reach 30% in 2022, up from 24% in 2016. By 2022, nuclear's share will be around 10% and renewables will be out-generating nuclear by a factor of three. Non-hydro renewable electricity generation has grown eight-fold over the past decade and will probably surpass nuclear by 2022, or shortly thereafter, then leave nuclear power in its wake as renewables expand and the ageing nuclear fleet atrophies.
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