Peter Dutton, Matt Canavan & Bush Boy Barnaby are having a lend of you
Peter Dutton, Matt Canavan & Bush Boy Barnaby are having a lend of you
The late-2000s nuclear renaissance, marked by the #Fukushima disaster and cost overruns, faced another setback in 2023. With five reactor start-ups and closures, the industry experienced a net loss of 1.7 GW capacity. Aging reactors led the International Atomic Energy Agency (IAEA) to predict 10 closures annually until 2050. However, the industry averaged only 6.1 construction starts and 6.7 reactor startups per year from 2014-23.
The operable power reactors dropped to 407-413, down from the 2002 peak of 438. Global nuclear power's share in electricity generation fell to 9.2%, the lowest in four decades. China dominated with five of the six reactor construction starts in 2023, dispelling hopes of a new nuclear renaissance.
Small modular reactors (SMRs) faced setbacks in 2023, with no construction starts or startups. NuScale Power abandoned a flagship project despite substantial subsidies. Efforts to commercialise 'advanced' nuclear reactors faced challenges, with setbacks reported for companies like X-Energy and Oklo.
In contrast, the International Energy Agency's (IEA) 'Renewables 2023' report revealed a record 507 GW renewable capacity additions in 2023, surpassing nuclear's 1.7 GW loss. Renewables now account for 30.2% of global electricity generation, set to reach 42% by 2028. Solar PV alone contributed three-quarters of renewable capacity additions in 2023.
The IEA called for tripling global renewable power capacity by 2030, with renewables expected to surpass coal, wind surpassing nuclear in 2025, and solar PV surpassing nuclear in 2026. In contrast, the goal to triple nuclear power by 2050 appears implausible, given the industry's stagnation and challenges.
China's nuclear program added only 1.2 GW in 2023, while wind and solar combined added 278 GW. Despite claims of over-regulation and public opposition, China's nuclear expansion faces limitations, peaking in 2018 and averaging 2.3 GW of new capacity annually. The prospects for nuclear power seem dim compared to the rapid growth of renewables globally.
Given the above are verified FACTS and we have limited resources for research, Peter Dutton and his Liberal monolith have plenty of researchers and financial resources to find out what we have we can only assume that he is deliberately misleading the public and has no intention of following through, which is sort of his bag really isn’t it.
Image: Nuclear Decline
