The use of and demand for nuclear energy is on the rise globally, due in large part to the efforts to increase both clean energy and energy independence. Countries in Europe, Asia, Africa, and South America are all making efforts to build next-generation reactors and increase the global nuclear fleet.
Nuclear power is a more cost-efficient way to create a clean energy system. And not just in the countries where nuclear energy is already operating, but also in countries that are developing electricity infrastructure for the first time. Alongside this vastly expanding interest in clean energy infrastructure, countries are also prioritizing energy independence. Nuclear fuel can be safely stored on site, is available from a diversity of sources, and is a relatively low component of cost. This profile makes nuclear energy an affordable source of reliable electricity, critical for growing economies.
Beyond that there are several reasons for the rise in demand, including increased electrification, the AI imperative, growing interest in energy security, and a recognition of nuclear energy’s role in supporting economic vitality. It's not just the large plants that are of interest, but also the smaller designs that are soon coming to the market. These designs, because they have the potential to be easier to license, build, and operate, have an appeal in countries that had never contemplated building a gigawatt scale plant. Countries in Asia, Africa, and South America are making active plans to build small nuclear. In the end, these new technologies can serve a variety of needs and can tremendously expand the global nuclear fleet.