A new report from the Paris-based OECD Nuclear Energy Agency declares that nuclear power is needed for countries to meet their Paris Agreement decarbonization and energy security policy goals, but that governmental support for a rapid reduction in the cost of new nuclear capacity through the creation of certain policy frameworks is likely necessary.
The NEA’s 134-page report, Unlocking Reductions in the Construction Costs of Nuclear: A Practical Guide for Stakeholders, notes that according to the International Energy Agency’s Sustainable Development Scenario (SDS), new nuclear capacity will be needed in addition to ambitious lifetime extension programs for existing nuclear plants. According to the report, in 2019, nuclear power was not on track to reach the required output. In fact, the rate of annual capacity additions would need to at least double between 2020 and 2050 to meet the SDS target.
Read more about the NEA’s report in this article posted by the ANS entitled: “NEA Issues Call to Action in Report on Nuclear Cost Reductions.”