When people think about electricity, they generally think of how their houses, cars and appliances are powered. Disruptions to the grid have shown how essential electricity access is, and where and how we get this power matters. Because of this, more clean, reliable, affordable and homegrown power like nuclear energy is absolutely essential to ensuring America’s energy security.
But it’s not just about the United States—it’s about the world, as our allies seek to decarbonize and secure their own grids.
The tragic invasion of Ukraine and its aftermath have reminded the world that energy supply relationships have important national security ramifications, and for Russia and China, energy exports are a strategic tool for geopolitical leverage.
European nations are looking for ways to decrease their dependencies on Russian oil and gas because without reliable, independent energy sources, energy vulnerability poses a constant threat. Many countries are turning to nuclear energy since reactors only refuel once every few years, and unlike most energy sources, nuclear plants have up to two years of fuel stored securely on-site—plus, it’s carbon-free.
In the face of possible blackouts and high gas prices, nuclear provides a valuable level of protection from daily price fluctuations, supply disruptions, and geopolitical instability.
Belgium has extended the life of their operating plants by a decade. South Korea and the Netherlands are now committed to building new plants, while the United Kingdom and the Czech Republic are increasing their targets for new capacity. France, a country that planned to phase down nuclear, announced plans to build up to 14 new plants by 2050, and amid a power shortage, Japan is looking for nine reactors to be online by this winter.
This momentum is reflected in public perception. Three weeks after Russia launched its invasion, researchers found a 25 percent increase in support of a new nuclear policy among European residents.
This support is for good reason, as plans to build these new reactors will develop economic and security relationships that can last for 100 years.
U.S. nuclear energy cooperation is founded on shared values and interests, and the U.S. has a long history of nuclear energy leadership and industrial international partnerships. We cannot let this influence wane, as powerful adversaries such as Russia and China are making deals to export their own technologies.
But we’re seeing European countries break these ties, recognizing the need for more secure partners. In Finland, a nuclear energy company ended a deal with Russian state corporation Rosatom for the construction of a new nuclear plant, and the Czech Republic disqualified both Russia and China from bidding for new plants due to national security concerns. Recently, Ukraine terminated its international agreements with Russia concerning cooperation on nuclear safety.
Global demand for nuclear energy can translate to substantial economic growth for the U.S., since international contracts and increased GDP promotes energy security. The financial opportunity for these advanced reactors is massive. According to one estimate, revenues for U.S. companies alone could be worth up to $1.9 trillion in exports over the next 30 years. We’re already seeing companies take advantage of this opportunity and plan to build new reactors abroad.
Synthos, one of Poland’s major synthetic materials producers, is engaged in ongoing discussions with GE Hitachi to deploy SMRs across the country. Last month NuScale announced a partnership with Romania to build six small modular reactors outside Bucharest, and most recently, the Tennessee Valley Authority partnered with Canada’s Ontario Power Generation to develop and deploy GE Hitachi’s SMR design on both sides of our border.
A critical piece of this puzzle is weaning the United States’ fuel supply off Russian uranium services. For this to happen, there must be cooperation between the private sector and government to build out our domestic fuel enrichment and conversion capabilities. We also must look forward to securing a high-assay low-enriched uranium (HALEU) supply to fuel the next generation of reactors.
Positioning the United States as the partner of choice for countries looking to decarbonize will bring jobs and GDP to America—as well as energy security and climate benefits to all involved.
To do this, there must be policies in place that value nuclear energy and a domestic fuel supply, financial screens that include 24/7/365 carbon-free nuclear energy alongside renewable sources, an efficient review process by the U.S. Nuclear Regulatory Commission, and a mobilization of funding for overseas customers from the Export-Import Bank.
This could not be a more serious moment for the climate crisis or our energy security. Simply put, nations are more secure with nuclear in their energy portfolio—and with the U.S. as their chosen partner.
