Accelerate the development of the nuclear energy industry! The United States plans to double its installed nuclear power capacity by 2050.
12/11/2024
GMT Eight
The government led by US President Biden is developing a plan to double the country's nuclear power capacity by 2050. Currently, as a source of all-weather carbon-free electricity, the demand for nuclear energy is on the rise.
According to a roadmap released on Tuesday, the US plans to deploy an additional 200GW of nuclear power capacity by the mid-century through the construction of new reactors, restarting nuclear power plants, and upgrading existing facilities. In the short term, the White House's goal is to have 35GW of new capacity operational in over a decade.
White House National Climate Advisor Ali Zaidi said, "Over the past four years, the US has truly built the industrial capacity and muscle memory across the economy to implement this plan."
He stated that the Biden administration is addressing issues hindering nuclear development, including lack of skilled labor, domestic fuel supply, and regulatory infrastructure. Zaidi said in an interview, "We have removed a lot of barriers that were preventing us from aggressively expanding this carbon-free power."
This strategy may continue to receive support under the leadership of newly-elected President Trump. Trump campaigned for building new nuclear reactors to help power energy-intensive data centers and factories.
The nuclear industry - and its potential resurgence - has also garnered support from both parties in the US Congress, with a law passed in July granting the Nuclear Regulatory Commission (NRC) new tools to regulate advanced reactors, issue licenses for new fuels, and assess manufacturing breakthroughs that could lead to faster and cheaper construction.
As countries strive to accelerate the increase of low-emission energy and electricity demand in energy-intensive industries like artificial intelligence data processing continues to rise, the demand for nuclear energy is increasing.
Microsoft Corporation (MSFT.US) reached a power supply agreement with the Three Mile Island nuclear power plant in Pennsylvania in September, while Alphabet Inc. Class C (GOOGL.US), Amazon.com, Inc. (AMZN.US), and billionaire financier Ken Griffin have all recently shown new interest in nuclear energy development.
The US is proposing this initiative as world leaders gather in Azerbaijan for a two-week COP29 climate summit, facing pressure to increase emissions reductions. At last year's United Nations meeting, the US and around 20 other countries signed a commitment to double nuclear power capacity by 2050.
According to data from the International Energy Agency (IEA), nuclear power capacity has remained relatively stable since 2010, reflecting the impact of the 2011 tsunami and the meltdown of the Fukushima Daiichi nuclear plant in Japan, although many governments are now reevaluating their positions on this technology.
Supporters of nuclear energy argue that the US can encourage nuclear developers by setting domestic deployment targets. The Biden administration report states that quick action is needed to achieve the 2035 goal by establishing sufficient orders for multiple reactors, which in turn will unlock investments in fuel and supply chain.
The 36-page framework outlines other measures the US should take to rebuild its capacity and restore its position as a nuclear technology development country.
The document states, "The US and its allies must engage in effective competition to provide the world with clean, safe nuclear energy." Other countries also "typically wish for new reactor technologies to be demonstrated first in supplier countries."
Key recommendations include expediting federal technical licensing for large reactors and ensuring long-term clarity of tax support. The strategy also calls for reviewing opportunities to add new reactors to existing nuclear power plants and considering deploying micro-reactors in Department of Defense facilities.