Fueled by economic growth and improved electricity access in emerging countries, global electricity demand is forecast to reach 34,000 TWh by 2040. Massive deployment of fossil fuel solutions is no longer feasible and while nuclear power remains a controversial alternative, it is worth exploring its potential. In this study we examine the prevalence of nuclear power across the globe and the risks and opportunities this technology poses.

Nuclear power plants are reliable power generators. They can generate electricity continuously and have load factors in excess of 80 percent. They are also not dependent on volatile oil or gas supplies. Nuclear power has established itself as a cheap energy source and is also one of the lowest contributors to pollution and climate change. However, nuclear power also presents clear drawbacks. The safety risks posed by nuclear power generation cannot be completely mitigated despite the protection provided by extensive safety mechanisms and measures. Nuclear plants also produce long lasting radioactive waste, placing a heavy burden on future generations.

There is no doubt that nuclear power is a controversial technology, nevertheless, it has been part of the global electricity landscape for more than 50-years. Despite criticism and growing competition from renewable sources, nuclear power remains a relevant option with great potential. In the nuclear future, players are tasked with defining a clear and flexible strategy around national policy, export strategy and innovation in order to secure market share.