We spend a lot of time talking about what’s happening in the United States, whether it’s what’s going on in the world of nuclear energy or about Barbenheimer (I’m still not over it). But it’s important to check in on what’s going on globally – whether that be in nuclear or Barbenheimer (no, really).
Want to learn more about what is going on with nuclear energy internationally? We’re asking the expert, Stephanie Pronco, NEI’s Senior International Trade Specialist.
Has international consensus around the use of nuclear energy shifted in recent years?
Absolutely. We're seeing a huge increase in the number of countries that are looking to nuclear to meet their energy needs. So, we're seeing this in Europe, Asia, Africa, and even recently in Latin America. So, it's not only countries that already operate nuclear looking to build more, but you have countries that are looking to build for the first time.
And even countries that have been historically anti-nuclear making policy changes. So just recently, we saw Serbia lift their 35-year moratorium on nuclear energy. And so, this really just speaks to the shift that's kind of happening globally. And we expect that this momentum for nuclear is only going to continue to grow.
What is driving the increase in global demand for nuclear?
I think there's two factors that are really driving the global demand for nuclear energy. And the first is a decarbonization commitment. So, there's a growing understanding that we need to transition to carbon-free sources in order to combat climate change. And so, as these countries work to meet these ambitious decarbonization targets, nuclear becomes really attractive.
So, it provides that reliable, clean energy source that can work and complement with renewables like wind and solar. When the wind's not blowing or the sun's not shining. And then the other piece of this puzzle is that energy security has become a top priority for so many countries. With Russia's invasion of Ukraine, it really highlighted the vulnerabilities in the global energy supply chain and led to a sense of urgency for these countries to diversify their energy sources.
And so, nuclear as a 24/7 source of electricity with fuel on site, or even these advanced reactors that can go years without refueling, is really well poised to fill that need.
Are there certain regions where we are seeing movement on nuclear?
Yeah, definitely. Central and Eastern Europe. These are very advanced economies that are heavy energy users who have previously been really reliant on coal. So as they look to decarbonize, there's definitely a lot of movement there.
There's intergovernmental agreements in Poland, Romania and Bulgaria that are really driving some of these projects forward, as well as a lot of private projects that are starting to take shape. And so, while Europe will definitely be probably the first to move, we're seeing tremendous interest in Southeast Asia, to a lesser extent, Africa. So, they're in different stages of their journey. But we're probably going to start seeing movement there as well.
Can nuclear energy help developing nations or nations with energy insecurities?
Yeah. So nuclear again is that reliable baseload source of electricity. That's going to be critical for economic growth and development.
And so, it also helps these countries become less reliant on fuel imports that are really susceptible to price fluctuations and instead gives them one of the most affordable sources of clean energy. Not only that, but nuclear plants have a really high energy output for a relatively small land footprint. And so, for countries that either don't have the land to take on these large-scale renewable projects or don't have the capacity to build the transmission needed for renewables to be effective, nuclear is going to be a really great option.
Are international markets eager to work with US-based companies?
Definitely. We're hearing a lot that countries feel that the US has some of the best technologies. And there's a growing understanding that nuclear energy partnerships strengthen bilateral ties. So, there's definitely a desire to have this cooperation with our universities, with our national labs, with the NRC that can be afforded to them through these partnerships with US companies.
But at the end of the day, they need to fulfill their energy needs, and our competitors are coming in with offers that they can't refuse. And so, if the United States doesn't want to miss out on this opportunity, then US government and industry need to step up and they need to work together to compete globally. It starts at home.
We need to get these projects deployed here, and then we need to get really serious about the policy changes that are going to be necessary in order to enable these US companies to take advantage of these opportunities in the global market and compete against these state-owned enterprises.
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