Decline of nuclear power ‘blow to carbon target’

Nuclear energy had a key role to play in meeting global carbon dioxide emissions reduction targets but was in danger of being overlooked by developed countries, the International Energy Agency has said.

In its first report on nuclear energy for two decades, the IEA said that, without policy changes, advanced economies could lose 25 per cent of their nuclear capacity by 2025 and as much as two-thirds by 2040.

Small-scale nuclear reactors may present a way forward but the economics remained unclear, the report said.

Nuclear is the second largest low-carbon power source in the world today behind hydro electricity.

For advanced economies, including the US, Canada, the European Union and Japan, nuclear has been the biggest low-carbon source of electricity for more than 30 years.

The IEA said without nuclear the global energy transition would be much harder.

The lack of further lifetime extensions of existing nuclear plants and new projects could result in an additional 4 billion tonnes of CO2 emissions.

IEA executive director Fatih Birol said alongside renewables and other innovative technologies, nuclear could make a significant contribution to achieving sustainable energy goals and enhancing energy security.

“But unless the barriers it faces are overcome, its role will soon be on a steep decline worldwide, particularly in the United States, Europe and Japan,” he said.

The new report found that the operational life of existing nuclear plants required substantial capital investment.

“But its cost is competitive with other electricity generation technologies, including new solar and wind projects, and can lead to a more secure, less disruptive energy transition,” Dr Birol said.

Robert Pritchard, executive director of the pro-nuclear Energy Policy Institute of Australia, said the Morrison government should open the door to nuclear.

“The new government should invite all solutions to the interlinked problem of climate and energy policy,” he said.

“The critical step is to lay down technology neutrality as the core policy principle,” Mr Pritchard said.

“Furious competition will quickly break out between renewables, carbon capture and storage and nuclear energy,” Mr Pritchard said.

Developing nuclear energy in Australia is prohibited under the Environmental Protection and Biodiversity Conservation Act.

The EPBC Act is due for review this year but neither the government nor opposition has committed to supporting moves to allow consideration of nuclear energy.

The IEA highlighted issues with long-term storage of energy.

“Without nuclear power, long-term storage could make or break the vision of a clean energy system,” the IEA said.