Nuclear power is the use of sustained nuclear fission to generate heat and electricity. Nuclear power plants provide about 6% of the world’s energy and 13–14% of the world’s electricity, with the U.S., France, and Japan together accounting for about 50% of nuclear generated electricity.
Annual generation of nuclear power has been on a slight downward trend since 2007, decreasing 1.8% in 2009 to 2558 TWh with nuclear power meeting 13–14% of the world’s electricity demand.One factor in the nuclear power percentage decrease since 2007 has been the prolonged shutdown of large reactors at the Kashiwazaki-Kariwa Nuclear Power Plant in Japan following the Niigata-Chuetsu-Oki earthquake.
The economics of new nuclear power plants is a controversial subject, since there are diverging views on this topic, and multi-billion dollar investments ride on the choice of an energy source. Nuclear power plants typically have high capital costs for building the plant, but low fuel costs. Therefore, comparison with other power generation methods is strongly dependent on assumptions about construction timescales and capital financing for nuclear plants as well as the future costs of fossil fuels and renewables as well as for energy storage solutions for intermittent power sources. Cost estimates also need to take into account plant decommissioning and nuclear waste storage costs. On the other hand measures to mitigate global warming, such as a carbon tax or carbon emissions trading, may favor the economics of nuclear power.
Following the 2011 Fukushima I nuclear accidents, costs are likely to go up for currently operating and new nuclear power plants, due to increased requirements for on-site spent fuel management and elevated design basis threats.
The world in nuclear reactors
Nuclear electricity generation 2008: billion kWh
Reactors under construction