03-07-2022, 03:17 PM
PUBLISHED FRI, JUL 1 20221:49 PM EDTUPDATED SAT, JUL 2 202212:41 AM EDT
Catherine Clifford
Nuclear power could be a dominant player in the next-generation clean energy landscape, but that will require concerted action and focus from governments and private industry that is not happening right now, according to the head of the International Energy Agency (IEA).
In the meantime, Russia and China are dominating the space. Since 2017, 87% of the new reactors which have broken ground use Russian and Chinese designs, IEA Executive Director Fatih Birol said in a statement on Thursday. The IEA is an intergovernmental organization based in Paris, and was launched in 1974 in the wake of the oil crisis.
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There’s a big opportunity for nuclear power to become a major component of global energy markets as the world wakes up to the effects of climate change, since nuclear power generation does not emit any of the greenhouse gasses that cause global warming. Also, the war in Ukraine has contributed to a run-up in fossil fuel prices, making nuclear power more economically attractive.
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He also warned that for advanced economies to catch up with Chinese and Russian nuclear operations, companies have to become better at delivering nuclear construction projects on time and on budget.
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In the United States, the construction of the third and fourth reactors at the Vogtle plant in Georgia have become a prime example of the inability of the nuclear industry to execute efficiently.
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In the United States, the federal government is in the process of implementing a US$6 billion program to prop up existing nuclear power plants that are struggling to stay open because of financial hardship, the Department of Energy says. The program is paid for with money that was included in President Biden’s Bipartisan Infrastructure Law.
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Since 2013, 13 commercial nuclear reactors in the United States have closed early
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In the IEA’s plan for the world to reach net zero emissions by 2050, the amount of nuclear power generation has to double between 2020 and 2050.
Full report at: https://www.cnbc.com/2022/07/01/russian-...chief.html
Catherine Clifford
Nuclear power could be a dominant player in the next-generation clean energy landscape, but that will require concerted action and focus from governments and private industry that is not happening right now, according to the head of the International Energy Agency (IEA).
In the meantime, Russia and China are dominating the space. Since 2017, 87% of the new reactors which have broken ground use Russian and Chinese designs, IEA Executive Director Fatih Birol said in a statement on Thursday. The IEA is an intergovernmental organization based in Paris, and was launched in 1974 in the wake of the oil crisis.
......
There’s a big opportunity for nuclear power to become a major component of global energy markets as the world wakes up to the effects of climate change, since nuclear power generation does not emit any of the greenhouse gasses that cause global warming. Also, the war in Ukraine has contributed to a run-up in fossil fuel prices, making nuclear power more economically attractive.
......
He also warned that for advanced economies to catch up with Chinese and Russian nuclear operations, companies have to become better at delivering nuclear construction projects on time and on budget.
......
In the United States, the construction of the third and fourth reactors at the Vogtle plant in Georgia have become a prime example of the inability of the nuclear industry to execute efficiently.
......
In the United States, the federal government is in the process of implementing a US$6 billion program to prop up existing nuclear power plants that are struggling to stay open because of financial hardship, the Department of Energy says. The program is paid for with money that was included in President Biden’s Bipartisan Infrastructure Law.
......
Since 2013, 13 commercial nuclear reactors in the United States have closed early
......
In the IEA’s plan for the world to reach net zero emissions by 2050, the amount of nuclear power generation has to double between 2020 and 2050.
Full report at: https://www.cnbc.com/2022/07/01/russian-...chief.html