An energy crisis, activate the global trillion nuclear power market

Countries adjusted their policies, and nuclear power returned to the world stage

Since 2022, countries and regions around the world have adjusted their nuclear power policies and accelerated the construction of nuclear power plants. Even some countries that abandoned nuclear weapons have reconsidered nuclear power.

Due to nuclear reactor waste disposal, nuclear leakage and other potential safety hazards, Germany, Switzerland, South Korea and other countries once abandoned the use of nuclear power, but in response to climate change, energy gap tension and other pressures, have to re-adopt active nuclear power development policies.

Britain has announced that it will build eight new nuclear power stations by 2030 and provide 25% of its electricity by 2050. South Korea is starting to restart nuclear power, starting to build new and extend the life of existing nuclear power plants and other work, hoping that nuclear power will account for 30% of total electricity generation, the Canadian plant in Ontario is also refurbishing, and announced a $56 million funding for Mortex Energy to develop small modular reactors (SMR). Poland's first nuclear power plant is expected to open in 2033, with five more expected by 2043. The Netherlands also plans to add two new nuclear power plants.

Energy chain research Institute finishing

Even Germany, long opposed to nuclear power, has extended the life of its three remaining plants until 2023. Germany is highly dependent on imports for its energy supplies and has been most affected by the conflict. According to EIA data, Germany's energy self-sufficiency rate is only 32.9%.

After the Fukushima nuclear disaster in Japan, there was once a cold climate for nuclear power, especially when the public almost talked about "nuclear" color, accounting for one-third of Japan's nuclear power, directly reduced to 10% of the proportion.

Entering 2023, Japan's power shortage situation is out of control, forcing the government for the first time in seven years to put forward winter power saving requirements, requiring the public to shut off unnecessary lighting, wear more clothes indoors, use thicker curtains and a series of power-saving measures. In Kawasaki City, Japan, Rosen Convenience Store has also launched an eco-friendly store that saves 40 percent on electricity.

In response to the energy crisis and power supply crunch, Japan's prime minister has also said that it is open to new nuclear energy projects, and in December last year, approved a plan to return to nuclear power. The plan extends the life of nuclear reactors to more than 60 years and calls for the development of more advanced reactors to replace those that are retired.

An energy crisis has brought nuclear power back to center stage.

There was also a big event late last year that reignited global enthusiasm for nuclear power. The US Department of Energy announced that its nuclear fusion experimental facility has made a major breakthrough in "output energy greater than input energy." Although the result may only be enough to boil 20 jugs of water, and is still far from commercialization, it still inspires new hope in solving the world's energy problems.

No country wants to be absent from the ultimate source of energy for sustainable development in the future.

Estimation of installed nuclear power capacity and uranium demand in China

The World Nuclear Association has predicted that global demand for uranium as a nuclear fuel will rise from 162 million pounds in 2021 to 206 million pounds in 2030 and to 292 million pounds in 2040.

At a time when the world's major economies are wavering in their attitude toward nuclear power, China's nuclear power has been firmly moving forward on the road of technology research and development and market development.

So far this year, China has approved five nuclear power projects and 10 nuclear power units, the most in nearly 14 years. According to the "14th Five-Year Plan" and the Outline of the 2035 Vision Goal, by 2025, the installed capacity of nuclear power in China will reach 70 million kilowatts.

Moreover, it is expected that between 2022 and 2025, China will maintain the approval pace of 6-8 nuclear power units per year, which is a great acceleration. By 2035, the share of nuclear power in China's total power generation will reach 10%, double that of 2021.

02 Although the scenery is good, nuclear power is a base load energy and can not be absent

Compared with solar power, which has been pursued for a long time, the development speed of nuclear power is much slower.

2022 is a big year for the development of global renewable energy such as photovoltaic and wind power. In its World Energy Outlook 2022 report, the International Energy Agency predicts that the share of photovoltaic and wind power generation will increase from 10% in 2021 to 40% in 2030, and will reach 70% in 2050.

This year, China's photovoltaic power generation capacity will reach 490 million kilowatts, surpassing hydropower only one foot, even wind power installed scale is expected to reach 430 million kilowatts.