Nuclear Energy on the Brink of a New Rise

Nuclear energy is on the brink of a new rise, worth $1 trillion, due to its growing appeal to once again become a significant part of the energy mix of countries thanks to advanced technologies and an increasingly urgent fight against climate change.

Namely, the initial enthusiasm regarding its potential was undermined by a series of catastrophic and dangerous accidents, namely the incidents at the Three Mile Island nuclear plant in Pennsylvania in 1979; in Chernobyl, Ukraine in 1986; and the one in Fukushima, Japan in 2011. But now, thanks to new technology and the pressing need to combat climate change, nuclear energy is getting a second chance to become a prominent part of the global energy network, as its production does not cause dangerous greenhouse gas emissions.

At this week’s panel discussion at the United Nations, a group of leaders from the nuclear energy sector from around the world gathered to discuss the scope of the resurgence and why it is so important for the industry to work together to ensure a gold standard in safety measures worldwide.

$1 Trillion Expected Global Demand

U.S. Energy Secretary Jennifer M. Granholm stated that nuclear energy accounts for 20 percent of the total supply in the U.S. electricity supply system and 50 percent of that which is carbon-free.

Future nuclear reactors and power plants will almost certainly use different technology from the current standard, as both U.S. laboratories and private companies are funding research into more efficient reactors that are cheaper to build and produce less waste. Granholm cited the advanced nuclear reactor that TerraPower, Bill Gates’ nuclear innovation company, is installing in Wyoming as an example.

The demand for advanced nuclear reactors is expected to be worth around $1 trillion globally, Granholm presented estimates from the Department of Energy. This includes jobs for building these reactors and all related supply chains that will need to be expanded to support this industry, she added.

– The conclusion is that expanding advanced nuclear energy is our priority – said Granholm, emphasizing that, of course, nuclear safety is key for all these technologies.

The change in the atmosphere towards nuclear energy has happened very quickly, believes Rafael Grossi, Director General of the International Atomic Energy Agency (IAEA).

– Just a few years ago, nuclear energy would not have been present, and perhaps not even welcome at annual climate change conferences – he notes.

The next conference will be in Sharm el-Sheikh, Egypt in November, followed by one in Expo City Dubai in the United Arab Emirates. The IAEA plans to participate in both of these conferences.

– The mere fact that we are talking about nuclear energy conferences in Egypt and the Gulf tells you a lot about what is happening and how we are changing, and what opportunities we have – Grossi said.

Safety First

However, if nuclear energy is to remain part of these conferences and discussions on climate change, its advocates emphasize that the entire international community must work together to adhere to strict standards on safety and non-proliferation.

– Today, no one buys a car if it has an accident every day. Therefore, safety and protection are the foundation for the successful development of nuclear energy – stated Hamad Al Kaabi, the United Arab Emirates representative to the IAEA.

The UAE has three nuclear reactors in operation and a fourth reactor in the final stages of commissioning. However, building nuclear power plants takes time, and this process in the UAE began about 13 years ago.

Vietnam has been considering nuclear energy for decades, according to the World Nuclear Association. The plan to build a nuclear plant was announced back in 2006, but it was put on hold in 2016, partly due to costs. Then in March, Vietnam announced an official draft energy proposal that includes small modular nuclear reactors.

The U.S. and the IAEA have helped guide Vietnam in its efforts to include nuclear energy in its national energy mix, said Ha Kim Ngoc, Deputy Minister of Foreign Affairs, at a meeting held on Tuesday. Reactors are an attractive option for a relatively small country, Ngoc said.

The Republic of South Africa has two reactors, according to the World Nuclear Association, and now other countries in Africa are interested in developing nuclear energy.

– Most countries I come from in Africa have very small grids – said executive director Collins Juma from the Kenyan Nuclear Energy and Energy Agency.

Advanced designs of nuclear reactors, especially small modular reactors, are interesting, but Juma hinted that paying for such reactors could be difficult.

– I am not sure about the costs, but we will discuss that at other forums – he noted.

Additionally, bringing nuclear energy to Africa will require independent and strong regulation to assure people that it is safe.

– Nuclear energy is a very emotional topic. It is a topic in which ‘all experts’ think they know it is dangerous. We must be very careful when developing a nuclear energy plan. And the public must trust that a nuclear power plant is safe – Juma said.

He also stated that he seeks guidance from leading nuclear powers and organizations.

– When you copy, you only copy from the best, you do not copy from the worst – he emphasized.

For countries interested in building nuclear reactors, the IAEA has written a guide titled ‘Milestones in the Development of a National Infrastructure for Nuclear Energy’.

– This is a good place for countries to start. The moment is serious, and we know it is a red alert for planet Earth. We have said this, but nuclear energy is not for a few, nuclear energy can be for many – Grossi concluded.