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According to the International Energy Agency, global investment in nuclear power fell by nearly 45% to $17 billion
in 2017.
While spending on new reactors is at its lowest level in five years, investment in upgrading existing nuclear power facilities has increased
, according to World Nuclear News.
Of the four new reactors commissioned last year, three are located in China
.
In 2017, more than 5,000 megawatt equivalent (MWe) of nuclear power capacity worldwide was retired, resulting in a net reduction of approximately 2,000 MWe
in global nuclear capacity.
But overall, global nuclear capacity is still about 10,000 megawatts
higher than in 2007.
While about 60,000 megawatts of nuclear power is still under construction worldwide, new construction totals just over 3,000 megawatts
.
In 2017, the modernization and upgrading of existing reactors accounted for about
half of total investment in nuclear power.
"OECD countries have recently made significant investments to extend the life of existing nuclear power units and increase power generation," the IEA said.
”
Over the past five years, nuclear power plants with a total capacity of more than 40,000 MWe have been approved to extend their operating life to more than
40 years, the report states.
Investment over this period averaged about $7 billion, three times
more than in the past five years.
"Assuming these plants are in operation for another 10 years, the lifetime extension over the past five years will generate 15% of the life expectancy production of solar PV and wind investments over the same period, but at a cost of only 3%," the IEA said.
”
The IEA suggests that a lifetime extension could be "a cost-effective transition measure
to sustain low-carbon power generation in the face of uncertainty about the development of new nuclear power plants or other low-carbon resources.
" However, this expansion requires supportive regulatory and technical factors
.
”
Global energy investment totaled $1.
8 trillion last year, down 2 percent from 2016
, the IEA said.
According to the International Energy Agency, global investment in nuclear power fell by nearly 45% to $17 billion
in 2017.
While spending on new reactors is at its lowest level in five years, investment in upgrading existing nuclear power facilities has increased
, according to World Nuclear News.
Of the four new reactors commissioned last year, three are located in China
.
In 2017, more than 5,000 megawatt equivalent (MWe) of nuclear power capacity worldwide was retired, resulting in a net reduction of approximately 2,000 MWe
in global nuclear capacity.
But overall, global nuclear capacity is still about 10,000 megawatts
higher than in 2007.
While about 60,000 megawatts of nuclear power is still under construction worldwide, new construction totals just over 3,000 megawatts
.
In 2017, the modernization and upgrading of existing reactors accounted for about
half of total investment in nuclear power.
"OECD countries have recently made significant investments to extend the life of existing nuclear power units and increase power generation," the IEA said.
”
Over the past five years, nuclear power plants with a total capacity of more than 40,000 MWe have been approved to extend their operating life to more than
40 years, the report states.
Investment over this period averaged about $7 billion, three times
more than in the past five years.
"Assuming these plants are in operation for another 10 years, the lifetime extension over the past five years will generate 15% of the life expectancy production of solar PV and wind investments over the same period, but at a cost of only 3%," the IEA said.
”
The IEA suggests that a lifetime extension could be "a cost-effective transition measure
to sustain low-carbon power generation in the face of uncertainty about the development of new nuclear power plants or other low-carbon resources.
" However, this expansion requires supportive regulatory and technical factors
.
”
Global energy investment totaled $1.
8 trillion last year, down 2 percent from 2016
, the IEA said.
