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Technology Brief
KEY TAKEAWAYS
Nuclear power is an important source of low-carbon electricity and heat that contribute to attaining carbon neutrality. They have played a major role in avoiding carbon dioxide (CO) emissions
to date. Decarbonising energy is a significant undertaking that requires the use of all available low-carbon technologies. Analyses indicate that the world’s climate objectives will not be met if
nuclear technologies are excluded.
Beyond existing large-scale nuclear reactors, nuclear power continues to evolve with new technologies emerging including small modular reactors (SMRs) and advanced reactor technologies.
These technologies will complement established large-scale reactors and open new markets, including district heating, high-temperature process heat and hydrogen production. SMRs could
provide electricity for small grids or remote locations and will improve the integration of variable renewable energy sources.
In many parts of the world, nuclear power plants are a cost-competitive option for generating electricity. In other places, while new nuclear plants may be more expensive than alternatives on a
levelized cost basis, they offer resilience and environmental benefits that justify these investments and will make the overall energy system more affordable and sustainable. The nuclear industry
has coordinated its efforts to learn from recent projects to reduce construction costs.
Some countries may choose to pursue nuclear power with a view that it can play an important role in their energy mix as a viable decarbonisation option. Other countries have decided not to use
nuclear power for a variety of reasons, some because of their endowment of natural resources and others because of their concerns relating to safety and waste. Policy-makers who wish to meet
climate and sustainable development objectives using nuclear power should:
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Establish a level playing field for all low-carbon technologies
Decarbonising energy is a significant undertaking that will require deployment of all available low-carbon technologies, including nuclear power.
Provide positive, long-term policy signals for new nuclear development
Consistent policies and clear market frameworks will enable investment in new nuclear power projects and support stable supply chains.
Accelerate the development and deployment of SMRs and advanced reactor technologies
Technical, financial and regulatory support are essential for the deployment and commercialisation of new nuclear technologies. International harmonisation of licensing frameworks
should be promoted.
Secure the long-term operation of existing nuclear plants
Long-term operation of existing nuclear plants will avoid unnecessary CO emissions and decrease the costs of the energy transition. This must respect safety and economic parameters.
Assess the merits of low-cost financing of nuclear power projects
Green finance classifications should be based on scientific and technology-neutral methodologies. Multilateral banks and international finance institutions should consider nuclear projects
as part of their sustainable lending activities.
