The future of atomic power as a clean-energy source is in jeopardy as new data reveals that geopolitical instability and war could threaten nuclear growth, potentially hindering efforts to combat climate change.
According to researchers at George Washington University, the $5 trillion price tag to triple atomic generation by 2050 is already a major hurdle for bankers. However, the deteriorating security situation in key growth markets could further complicate the push for a nuclear-energy renaissance.
Former U.S. State Department diplomat Sharon Squassoni, who led the study, expressed concerns about the risks of proliferation, nuclear terrorism, sabotage, coercion, and weaponization associated with a significant increase in nuclear energy production. She emphasized the need to consider national security implications when pursuing strategies to reduce carbon emissions.
To achieve ambitious nuclear targets, the world economy would need to install 800 gigawatts of additional capacity over the next 25 years, equivalent to about 30 large new reactors annually. While China and Russia have made progress in constructing gigawatt-scale units, many western and emerging economies have scaled back their nuclear ambitions.
The development of small modular reactors (SMRs), designed to generate less electricity than traditional units, presents its own set of challenges. With over 80 competing designs under development, the widespread introduction of SMRs could increase risks, especially in countries experiencing political instability.
Despite the potential dangers, Rafael Mariano Grossi, chief of the International Atomic Energy Agency, believes that holding individuals accountable for targeting nuclear facilities may be a more effective approach than halting technological advancements. As the debate over the future of atomic power continues, the need to address security concerns and geopolitical risks remains a critical consideration.