Sunita Somvanshi
Nuclear power generation hit an all-time high in 2024, but experts warn this momentum may be difficult to maintain in coming years. The industry faces challenges from aging plants, insufficient investment, and growing competition from cheaper renewable energy options.
Global nuclear power generation reached a record 2,677 terawatt-hours in 2024, according to the World Nuclear Industry Status Report released Monday. This milestone comes after two years of declining output and was largely driven by growth in China.
Despite this achievement, the report paints a concerning picture for the industry’s future. To maintain current output levels through 2030, the world would need 44 additional nuclear plant startups beyond those already planned. This would require increasing the annual startup rate to roughly 2.5 times what we’ve seen over the past decade.
“The new record electricity generation from nuclear energy in 2024 is a testament to the industry,” said Dr. Sama Bilbao y León, Director General of World Nuclear Association. “To meet our global energy and climate goals, it is a record that needs to be bettered again and again, every year, by increasingly larger amounts.”
Nuclear power currently provides about 9% of global electricity. The global reactor fleet operated at an average capacity factor of 83% in 2024 – higher than any other electricity source and up slightly from 82% in 2023.
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However, competition from renewable energy sources is intensifying. Investment in non-hydro renewables like solar and wind was 21 times higher than nuclear last year, while their capacity additions were more than 100 times greater than net nuclear additions. Battery costs dropped approximately 40% in 2024, while nuclear plant costs continued to rise.
“Together these new technologies are evolving towards a highly flexible, fully electrified energy system… outcompeting traditional centralized fossil and nuclear systems,” the report stated.
Another challenge is the concentration of new nuclear development. From 2020 to mid-2025, 44 of 45 global construction starts were by Chinese or Russian state firms. China, which led the world in nuclear energy last year, is expected to continue its dominance in the sector.
Currently, 70 reactors are under construction worldwide, with construction on nine new reactors beginning in 2024 – six in China and one each in Pakistan, Egypt, and Russia.
The report also highlighted nuclear power’s environmental benefits. In 2024, nuclear reactors helped avoid 2.1 billion tonnes of carbon dioxide emissions compared to equivalent coal generation – enough to offset the carbon footprint of the entire global aviation industry nearly twice over.
Seven new reactors were connected to the grid in 2024: three in China and one each in the United Arab Emirates, France, India, and the United States.
Small modular reactors (SMRs), often touted as the future of nuclear energy, remain “largely aspirational” according to the report. Despite increased public and private funding, no Western SMR construction has begun. China is the exception, with two SMR designs in operation or under construction, though limited operational data is available.
The United States has recently pushed to make nuclear energy a policy focus, securing several agreements with other countries to boost production. However, the report suggests that without significant improvements in project delivery and economics, nuclear’s share of global power generation may continue to face challenges. Recent developments have also highlighted both the potential and risks of nuclear technology, from innovative battery solutions to ongoing safety concerns including containment efforts and environmental incidents such as fish kills and toxic water leaks that underscore the importance of maintaining strict safety standards.
