Around the world, nuclear energy is on an upward trend. Momentum to expand nuclear has grown and there is no shortage of actions that demonstrate a change in attitudes over recent months.
Nuclear is taking center stage at major world events, outdated perceptions are shifting to positive opinions, and more and more countries need reliable, clean energy. Demand for nuclear is surging.
But why now?
Because the world needs more electricity that is available all day, every day. World leaders want clean energy as they transition away from fossil fuels and clean up their industrial sectors. They also want energy independence and economic opportunities for communities. You’ll find a connection to nuclear energy in almost every region of the world.
A groundbreaking public opinion survey across eight countries, which include Poland, Japan, the UK and South Korea, found that supporters of nuclear energy outnumber opponents five to one. Plus, a majority of EU governments voted to include nuclear in the EU’s “net zero” list of strategic technologies – a major shift in perception from just a few years ago.
Countries that had planned to phase out nuclear, like Switzerland, Sweden and Japan, have reversed course. In fact, Sweden announced a “a massive build out” of 10 more conventional reactors — or the equivalent with small reactors — by 2045. And the Belgium government reached an agreement to extend the life of its nuclear plants by 10 years, with the prime minister interested in keeping them open an additional 10 years.
For years, nuclear was left out of global energy conversations — but 2023 was a landmark year, with nuclear making headlines at events like Roadmaps to New Nuclear, the UN Climate Change Conference in Dubai, and the G7’s Climate, Energy and Environment Ministers meeting. In Sapporo, Japan, G7 governments issued a joint communique to support the long-term operation of today’s nuclear facilities and accelerate deployment of new plants.
Canary Media noted this year’s COP28 may become known as “the nuclear COP”, which was underscored by Good Energy Collective's Jackie Toth, who was on the ground at the event. Leaders from 24 countries agreed to triple nuclear generation by 2050, EXIM Bank and the U.S. State Department announced new financial support for small modular reactor deployments, and the “Sapporo 5” announced their intent to mobilize $4.2 billion in government-led and private investment to support a secure nuclear fuel supply chain.
Coal-heavy nations are looking at nuclear as they transition to cleaner energy sources. For example, multiple orders for Poland’s first ever nuclear reactors have been placed. And KGHM — Europe’s largest metals mining company — is working to deploy next-generation nuclear technology in Poland.
Building on commitments made in 2022 by Special Presidential Climate Envoy Kerry, the first Project Phoenix workshop was held in Bratislava this fall. The event continued work among the United States, the Czech Republic, Poland, and Slovakia to explore the feasibility of coal-to-nuclear facilities. Eastern Europe in particular is a hotbed for new nuclear, perhaps being headlined by the approval of a second large reactor in Poland.
In the sub-Saharan African region, governments are pursuing nuclear to procure clean and reliable energy, while also building a highly skilled nuclear workforce. The U.S. is working with Ghana to establish a Small Modular Nuclear Reactor (SMR) Regional Training Hub, which will support the country’s nuclear workforce development and position Ghana as a training hub for the region.
Demand for nuclear energy shows no sign of slowing down in 2024. Building on this year’s momentum, world leaders are already planning to meet in Brussels for the first Nuclear Energy Summit early next year, where they will outline a shared vision to advance nuclear and overcome its challenges.
These developments are all taking shape while the nuclear market continues to get stronger. Nuclear developers are moving towards deployment. Policymakers are working to remove hurdles and expand nuclear. And private investors are growing curious.
It’s clear the world wants more nuclear energy, and while ideas like tripling nuclear capacity may have seemed daunting in the past, there is now tremendous drive to move us towards that reality.
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