Fission uranium 1 year target price4/3/2023 For example, an average 1,000-MW nuclear power plant in the US requires about 2.6 sq km to operate. Although nuclear power produces enormous amounts of carbon-free electricity, it generates more on significantly less land than any other source. Nuclear power is the "ideal way" to deal with climate change.Īnother advantage is the low land requirement. Thus, at 0.04 per TWh of energy produced, uranium has the lowest mortality rate of all energy sources and is well ahead of wind (0.15 TWh), solar (0.44 TWh), oil (36 TWh) and coal with a high 161 TWh. But the technology has advanced significantly in recent decades to provide a much higher level of nuclear safety and is considered the safest source in the world in 2023 compared to both fossil and renewable energy sources. Of course, many remember the horrific events from Three Mile Island in 1976, Chernobyl in 1986, and Fukushima in 2011. Looking at the IEA's World Energy Outlook 2018, electricity costs in China from onshore wind, solar PV, and offshore wind are 16%, 50%, and 140% higher than nuclear, respectively. According to the OECD Nuclear Energy Agency, a mix that relies primarily on nuclear energy is also the most cost-effective option for meeting the decarbonization target of 50 g CO2 per kWh. For example, experts predict a tripling of nuclear power by 2050 to provide up to 25% of electricity as part of a clean and reliable low-carbon mix. In order to meet this with sustainable energies, nuclear energy is essential in addition to the expansion of wind and solar energy. In this regard, meeting the significant increase in electricity demand, which according to the International Energy Agency, will grow from about 25,000 TWh to 40,000 TWh between 20 3 The international community sees an urgent need to make electricity generation carbon-free to protect people and the planet from the dangers of air pollution and climate change. World's nuclear reactors, uranium demand, and share of nuclear electricity generation in total energy mix. Share of nuclear electricity/total electricity, as of 12/2021 US President Joe Biden is similarly combating the energy crisis, putting forward a USD 4.3 billion plan to support the uranium sector in the US and minimize dependence on Russia, in addition to tax incentives. In Canada, for example, the government announced it would provide CAD 970 million in funding to develop a grid-scale small modular reactor, a new nuclear technology being promoted as a central part of the country's plans to reduce emissions. Here, the trend is clearly toward constructing new, ultra-modern reactors and is being massively subsidized by politicians. In contrast, the major industrialized nations do not share the German government's renunciation of climate-neutral nuclear energy on the contrary. The share of nuclear energy for electricity generation in the Federal Republic was only 6.0% in the first half of 2022 and is to be driven to zero in the near future by the planned closure of the last three active nuclear reactors. This is to be achieved with an accelerated expansion of renewable energies from currently 48.5% to then 100% in electricity generation and the complete abandonment of fossil energy sources. In order to achieve the global climate goal of limiting global warming to less than 2 degrees Celsius, Germany wants to become greenhouse-neutral by 2045.
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