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Nuclear sector must overcome decades of stagnation to meet COP28 tripling goal

By David Stanway and Timothy Gardner

 The global nuclear industry got a morale boost at the COP28 climate summit
in Dubai after more than 20 nations vowed to triple capacity by 2050. But
reaching that goal will require the industry to overcome regulatory
hurdles, financing obstacles, fuel bottlenecks, and public safety concerns
that have contributed to a long history of project delays and decades of
stagnation.

It took 70 years to bring global nuclear capacity to the
current level of 370 gigawatts (GW), and the industry must now select
technologies, raise finance and develop the rules to build another 740 GW
in half that time.

“Judging by the international nuclear industry’s
performance over the past two decades, it is impossible,” said Mycle
Schneider, lead author of the World Nuclear Industry Status Report.

The declaration, signed by the U.S., France, Britain, South Korea, and others
commits countries to mobilise investment and encourage financial
institutions like the World Bank to back nuclear power. It also promises
efforts to extend the life of existing plants – with about 200 of 420
reactors around the world scheduled to be decommissioned before 2050 – and
support for new technologies like small modular reactors (SMRs).

 Reuters 7th Dec 2023

https://www.reuters.com/sustainability/climate-energy/nuclear-sector-must-overcome-decades-stagnation-meet-cop28-tripling-goal-2023-12-07/

December 10, 2023 - Posted by | Uncategorized

1 Comment »

  1. The nuclear power industry can’t build nuclear plants fast enough and safely in time to make an impact on reducing our carbon foot print. They can’t find the capital to invest in the construction of nuclear power, because there is no solution to the nuclear waste problem or any cost estimate, it seems everyone has develop amnesia on the nuclear accidents in Fukishima, Cherynoble and Three Mile Island. They are so blinded to their profit addiction & desperate to continue building nuclear plants, despite the cheaper, faster, safer renewable energy alternatives that are ready to meet our energy now. Wind, solar, geothermal, hydroelectric, hydrogen fuel cell, tidal, ocean current, iron-chromium flux capacitors, lithium-ion battery back-up, mass transit, retrofiting houses, buildings, and electrical vehicles are all part of the mix. All we lack is the political will to do so because the dying nuclear industry, the for profit electric utilities and the dying, greedy fossil fuel industry has bought the votes of our elected leaders from both political parties of Congress and State Houses.

    paulrodenlearning's avatar Comment by paulrodenlearning | December 10, 2023 | Reply


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