Global interest in nuclear energy is increasing, with 22 countries at COP28 pledging to triple nuclear energy production by 2050. Achieving this ambitious goal will require unprecedented investment levels, amounting to trillions of dollars to reach approximately 1,200 gigawatts of global nuclear capacity. This would not only triple the current capacity but also replace decommissioned reactors. Beyond investments, the industry must ensure cost competitiveness, public support, and safety to succeed. To enable rapid expansion, three priorities are essential: forward-thinking business models and regulations, robust supply chains with a stronger workforce, and a strategic approach to scaling technologies. Governments, private investors, and industry leaders must collaborate to mitigate risks and finance new projects. Simplifying regulatory frameworks and fostering innovative partnerships will be crucial. Additionally, developing a skilled workforce and securing supply chains are vital to meet the growing demand for nuclear energy. In the short term, stabilizing mature technologies and standardizing components can lower costs and improve efficiency. A program approach, rather than treating each project individually, will help capture learning curve benefits. In the long term, scaling up innovative reactor technologies, such as small modular reactors and fusion, will be necessary. Ensuring safe operations and industry resilience is paramount to gaining public support and maintaining investor confidence. Tripling nuclear capacity by 2050 is challenging but achievable with coordinated efforts from all stakeholders.
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Path to Tripling Nuclear Energy by 2050

Global interest in nuclear energy is increasing, with 22 countries at COP28 pledging to triple nuclear energy production by 2050. Achieving this ambitious goal will require unprecedented investment levels, amounting to trillions of dollars to reach approximately 1,200 gigawatts of global nuclear capacity. This would not only triple the current capacity but also replace decommissioned reactors. Beyond investments, the industry must ensure cost competitiveness, public support, and safety to succeed.

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