- Nuclear is not only for rich countries. India and Pakistan started civilian nuclear programs when they were far poorer than most nuclear-aspiring countries today.
- A diverse set of emerging markets are already ready. Thirty one countries already have nuclear power today, while another 29 countries across Africa, Asia, and Latin America are ready or will likely be ready by 2030. An additional 41 newcomers could be ready by 2050.
- Next-gen technology may be especially suitable for smaller grids. Conventional reactors are 1,000 megawatts or larger, making them costly and difficult to integrate into small grids. Next-generation small and micro reactors may offer a more flexible option.
- Small modular reactors are not yet commercially available. No next generation designs by US firms are yet operational. Pilots are still under construction.
- Once built, nuclear power plants last a very long time. The lifecycle of a typical nuclear power plant is 80-100 years, compared to 25-30 years for gas and solar.
- Russia and China are winning the nuclear race. They have signed dozens of nuclear cooperation and construction agreements with countries. The US is trying to catch up.
- Nuclear decisions are highly geopolitical. Russian nuclear packages come with multi-decade fuel lock-ups and other dependencies that create strategic vulnerabilities.
- Nuclear power is very capital intensive. The vast majority of costs are incurred upfront during construction, while operating and fuel costs are relatively low.
- Financing constraints are starting to ease. The World Bank and regional development banks for Asia and Latin America have all lifted longstanding nuclear financing bans.
- Nuclear is not an energy access solution. Nuclear is attractive for industries and mature utilities that need large-scale, long-term energy. Nuclear is almost never going to be a solution for first access in poor countries.
- Hype is misleading. Many announcements of nuclear projects are false propaganda.
- Nuclear energy does not equal nuclear weapons. The fuels and technical capabilities are entirely different. Facilities to convert fuel to weapons-grade are closely monitored.
- Security risks are overstated. Weaponization by rebel or terror groups is too technically difficult to pose a real threat.
- Spent fuel (AKA waste) is manageable. Most of the new designs either recycle used fuel or come packaged with waste solutions.
- Market success hinges on cost. Deployment in emerging markets will ultimately depend on new reactor designs proving commercial viability and the availability of finance.
More info: https://energyforgrowth.org/project/advanced-nuclear/