Forget Climate Change, I Need Cheaper Energy

Climate Narrative Can’t Happen Without Nuclear

As the effects of climate change intensify year after year, countries around the world are setting ambitious goals to curb harmful carbon emissions that trap heat within the Earth’s atmosphere. It has become abundantly clear that nuclear energy, with its ability to provide reliable 24/7 carbon-free power, is an essential part of the solution.

Major studies confirm this necessity. The latest report from the United Nations' Intergovernmental Panel on Climate Change (IPCC) called for a doubling of nuclear generation by 2050. Analyses by Vibrant Clean Energy, the U.S. Department of Energy, McKinsey & Company, and others have reached similar conclusions – without a significant increase in nuclear power, net zero emissions targets become extremely difficult if not impossible to attain.

The case for ramping up nuclear has become too clear to ignore. Nuclear energy already provides 20% of U.S. electricity and almost 50% of its clean electricity. With a relatively small footprint and resilience against weather disruptions, nuclear plants can reliably deliver gigawatts of emissions-free power. And nuclear's benefits go far beyond the power grid.

The climate crisis demands urgent decarbonization. To address global warming while meeting human needs, our carbon-free future must provide reliable, affordable electricity accessible to all communities. Nuclear energy uniquely delivers on all fronts. With zero emissions and 24/7 reliability, nuclear already provides over 50% of U.S. clean electricity. Advanced nuclear reactors will bring enhanced versatility to power communities of any size, anywhere.

As coal plants retire, nuclear offers a carbon-free second life for workers and communities. Retooled plants can provide hundreds of high-paying, long-term jobs. Economy-wide modeling shows nuclear lowers overall system costs versus wind/solar alone.

Nuclear enables an equitable, cost-effective transition

With climate action accelerating, now is the time for investors to catalyze nuclear innovation. The market potential is immense for reactors adapted to remote areas, industrial applications, military bases and more. Backing nuclear now means positioning at the forefront of the clean energy economy. Policymakers must also prioritize nuclear in climate plans and investments. The technology is proven and ready to scale; the climate imperative is undeniable. Investor leadership can ignite liftoff for advanced nuclear. Advanced nuclear reactors under development today can unlock new decarbonization opportunities in transportation, industry, hydrogen production, and beyond. These are massive markets desperate for clean energy solutions. Additionally, nuclear technologies have long helped power military operations and bases – for instance, Oklo's advanced reactor was just chosen to supply carbon-free energy to Eielson Air Force Base in Alaska.

With use cases across electricity, industry, military, and more, it is evident that nuclear energy can uniquely deliver 24/7 clean energy in a way no other technology can match. It is the missing link needed to connect the dots and enable deep decarbonization. Investor interest and support will be critical to drive nuclear innovation and deployment. Already, leading nations are moving to ramp up nuclear. Canada, Japan, Poland, the Czech Republic and others have all made major commitments to expand nuclear energy. They recognize nuclear's unmatched abilities to strengthen energy security while slashing emissions. The investor community has a prime opportunity to catalyze nuclear growth worldwide. As major climate events and conferences like National Clean Energy Week, New York Climate Week, and COP28 kick off this fall, stakeholders must ensure nuclear has a seat at the table. Policymakers, NGOs, and business leaders have a responsibility to make nuclear energy expansion a centrepiece of their climate action plans and investments.

With the climate narrative intensifying and clean energy demand skyrocketing, now is the time to usher in nuclear energy's full potential. Investors who recognize nuclear's immense value today can position themselves to reap significant rewards in the emerging clean energy economy. The market opportunities are enormous, but realizing a clean energy future will not be possible without nuclear in the mix. The time for climate leaders to go all-in on nuclear is now.

Recent polling shows U.S. utilities plan 90+ GW of new nuclear capacity by 2050, equivalent to 300+ small modular reactors (SMRs). This would avoid 471 million tons of CO2 yearly – equal to taking 100 million cars off the road.

The bulk of emissions reductions would come online by 2050

This trajectory aligns with IPCC projections of doubling global nuclear capacity by 2050 to meet climate goals. The 300 SMRs would generate over 730 TWh annually. That's enough to power 68 million homes, 176 million EVs, and over 367 billion smartphones. This is more power than Saudi Arabia and Mexico's grids combined. Nuclear is essential for an affordable, reliable grid. Modeling by Vibrant Clean Energy and others show the most cost-effective decarbonization includes 40%+ nuclear generation in 2050 alongside wind and solar. Less nuclear means billions in added costs.

Beyond electricity, SMRs enable decarbonization of transportation, manufacturing, and other heavy industries via high-temperature heat and clean hydrogen production. The market is immense. Utilities are ready to invest because nuclear delivers on their climate goals. Siting SMRs at retiring fossil plants also aids local economies. This readiness signals nuclear's immense potential.

Investors have a prime opportunity to back advanced nuclear innovation as utilities plan major capacity growth by 2050. Support now can catalyze technology deployment and position companies for the expansive emerging markets beyond electricity. Timing is critical - the climate imperative is clear, and nuclear solutions are primed for scale.

The latest UN IPCC report underscores nuclear's essential role in climate mitigation pathways to net zero emissions. It concludes that near-total decarbonization of electricity is required, with different technology mixes including substantial nuclear. Nuclear already provides 20% of U.S. electricity and over 50% of carbon-free electricity. Advanced reactors can build on this foundation. Global nuclear capacity must double by 2050 per IPCC.

Countries recognize nuclear for energy security and emissions cuts

Major nuclear investments are underway worldwide - the Czech Republic, France, and others are building new capacity. Annual global nuclear investments will average over $100 billion through mid-century. U.S. nuclear innovators can capture significant market share, especially as the Ukraine conflict highlights the need for trustworthy energy partners.

Beyond electricity, the IPCC stresses economy-wide decarbonization. Nuclear can decarbonize transportation and industry via clean hydrogen production and high-temperature process heat. Bipartisan U.S. policy initiatives demonstrate recognition of nuclear's potential for clean hydrogen production. First-of-a-kind nuclear hydrogen demo project is already underway.

The latest IPCC report further validates nuclear as an indispensable technology for deep decarbonization goals. Major growth opportunities exist domestically and globally. Policy momentum is building. Investors can capitalize on nuclear's immense climate potential. Studies confirm nuclear energy is essential to meet surging electricity demand while achieving net zero emissions. IPCC, McKinsey, and others forecast a doubling or tripling of nuclear capacity by 2050. Nuclear provides reliable 24/7 carbon-free power. Global nuclear demand is now translating into major projects and partnerships worldwide. The U.S. just announced support for Romania's first SMR project replacing a coal plant. This demonstrates nuclear's pivotal role for energy independence as nations transition from coal.

Momentum is building across Europe and beyond - Czechia, Canada, Poland, and more are advancing new nuclear. Nations recognize nuclear uniquely bolsters energy security and affordable clean electricity. The flexible scale of SMRs also enables decarbonization in remote areas. This promotes energy justice worldwide. Nuclear provides thousands of quality local jobs and spurs community investment.

Concrete global actions on nuclear are accelerating, from partnerships to policies to workforce development. But more private and public sector investment is needed to meet demand. International leaders convening at COP28 must strengthen nuclear's role in climate response. Collective action is required to expand nuclear and achieve climate goals. Global nuclear demand is surging amid recognition of its energy security and decarbonization benefits. First-of-a-kind projects showcase nuclear's immense potential. Investors can capitalize on major opportunities as nuclear scales up worldwide.

Multiple studies confirm substantial growth in nuclear capacity is imperative to meet rapidly escalating electricity demand and achieve net zero emissions. IPCC and others forecast nuclear generation must double or triple by 2050.

First-of-a-kind global nuclear projects are now underway

demonstrating soaring demand. The U.S. is supporting Romania's inaugural SMR project to replace coal and strengthen energy security amidst geopolitical shifts. Europe is accelerating new nuclear with major reactor projects in Czechia and pioneering North American partnerships. Tax credits in Canada will also spur deployment. Global demand spans continents as nuclear unlocks energy security.

Nuclear's scalability empowers decarbonization anywhere. Small modular reactors can service remote regions or large cities. This enables energy access worldwide, promoting environmental justice. Each new reactor boosts energy security and stability. Nuclear provides thousands of quality local jobs for decades and stimulates community investment. But more public and private investment is still required. Real progress is being made with partnerships, policies, and workforce development. However, international collaboration remains vital to expand nuclear and meet climate goals. COP28 is an opportunity to accelerate collective action.

In summary, surging global nuclear demand driven by energy security and decarbonization needs is becoming a real project. But more investment and cooperation are essential to deploy at the pace climate requires. First-movers will lead the way.