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Global nuclear energy reached a record output of 2,677 terawatt-hours in 2024, largely driven by expansion in China. A new report highlights that maintaining this level will be difficult due to underinvestment, ageing plants, and construction setbacks. Renewables are advancing faster, with investment 21 times higher than nuclear last year and new capacity additions more than 100 times greater. Falling battery costs add further pressure. Most new nuclear construction since 2020 has been led by Chinese and Russian state firms, while Western small modular reactor projects remain stalled. Without major improvements, nuclear's share of electricity, about 9% in 2024, is expected to decline.
Global nuclear power generation achieved a record high of 2,677 terawatt-hours in 2024 after two consecutive years of decline. According to the World Nuclear Industry Status Report, keeping this level steady in the coming years will be difficult because of limited investment, ageing reactor fleets, and frequent disruptions in projects. Advertisement
The report indicates that to hold global output steady through 2030, about 44 additional reactor startups would be needed beyond those already scheduled. This would require raising annual startups to roughly two and a half times the pace of the past decade.
Concerns are also growing around ageing plants and slow progress in construction. At the same time, renewable energy sources and battery storage are expanding at a much faster rate. Investment in non-hydro renewables was 21 times greater than in nuclear last year, while capacity added was more than 100 times the net nuclear additions. Battery storage costs declined by around 40% in 2024, making alternatives more competitive, whereas the costs of nuclear plants continued to rise.
The report notes that from 2020 until the middle of 2025, 44 of 45 new nuclear construction starts worldwide came from Chinese or Russian state-backed firms, with projects in countries such as Egypt and Turkey. Delays remain a common issue in many of these projects. Nuclear's share of global electricity generation stood at 9% in 2024, and unless project delivery improves and costs are better managed, this share is expected to fall further.
Small modular reactors have been presented as a potential solution, but progress remains limited. In Western countries, no SMR construction has started despite rising interest and funding. China is the exception, with two SMR designs in operation or under construction, though operational data available so far is limited.
The report emphasises that without stronger commitments and faster execution of projects, nuclear power is likely to struggle to compete with rapidly advancing renewable energy technologies and storage solutions.
Source Reuters
5th Jun, 2025
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