The Net electricity generated by Nuclear power plants in the Global Power and Utilities industry reached 2,518,863.19 GWh in 2020
The indicator recorded a historical growth (CAGR) of 0.20% between 2017 and 2020, and is expected to grow by ...
GlobalData projects the indicator to grow at a CAGR of...
Net electricity generated by nuclear power plants recorded a YoY decrease in 2020
In 2000, the share of nuclear power in the total global power capacity was slightly in low-double-digit percentages. Despite significant capacity additions during 2000–2019, the share of nuclear power has reduced. Similarly, the share of nuclear in total electricity generated globally has reduced despite increased capacity and modern reactors working with better efficiencies. The reduction in nuclear’s share in capacity and generation during this time is majorly due to the addition of capacities of other technologies during this period. Particularly, the significant addition of thermal power.
The growing demand for electricity across the globe and the necessity of developing and using safe, reliable and economical sources of electricity are pushing countries to build new nuclear reactors.
There are several types of reactors, but the Pressurized Water Reactor (PWR) is the most popular one with most of the active reactors being of this type. Other reactor types that are currently active are – Pressurized Heavy Water Reactor (PHWR), Light Water Reactor (LWGR), Gas Cooled Reactor (GCR), Fast Breeder reactor (FBR), and Boiling Water Reactor (BWR).
The US continues to be the largest nuclear power country
Thirty-two countries currently operate nuclear reactors to generate electricity. While some countries such as Armenia and Slovenia operate just one reactor each, the US operates 95 reactors spread across 30 states. Of these, 90 plants are 30 years or older. Only two reactors in an existing nuclear power plant complex are under construction and are set to be commissioned in 2021 and 2022, although this may be delayed due to the current pandemic leading to a reduced workforce at construction sites of both the reactors.
Impact of COVID-19 on the nuclear power sector
More than any other power technology, nuclear power industry treats safety as the most crucial aspect due to the nature of the technology. This makes safety, health and well-being of nuclear power plant employees a core part of a plant’s operations. This being the case, every nuclear reactor site – whether under construction, operational, or undergoing decommissioning, would have several contingency plans in place including one for a pandemic situation. This has helped most reactors continue their operations smoothly even after the outbreak of the COVID-19 pandemic.
Overall, in the short term there have not been any radical effect of the COVID-19 pandemic on the nuclear power industry. There hasn’t been any significant job loss, nor has generation been stalled. Remote working arrangements that would otherwise never be considered in the nuclear power industry have been tested and implemented and adapted quite quickly in a matter of weeks. In the longer term, it is plausible that some reactors may be required to shut due to one of several conditions including a more aggressive spread of the virus, spread to the crucial workforce of a reactor, or a significant fall in demand for electricity.
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