World Nuclear Industry Status Report 2024: Solar Surges, Nuclear Faces Decline

• The 2024 World Nuclear Industry Status Report, led by consultant Mycle Schneider, reveals that installed solar PV capacity is now nearly five times that of nuclear energy globally.
• By mid-2024, 408 operational nuclear reactors delivered 367 GW, compared to around 1.6 TW of PV at the end of 2023, potentially reaching 1.9 TW by mid-2024.
• Despite slight nuclear production growth, only five reactors (5 GW) came online in 2023, while five plants (6 GW) were decommissioned.
• China’s dominance in nuclear construction continues, with 46% of global projects, though solar vastly outpaced nuclear in 2023, generating 40% more electricity.
• The report highlights the rising role of solar-plus-storage, predicted to be cheaper than nuclear by 2025, as a game-changer in energy markets.
• Small modular reactors (SMRs) continue to lag behind expectations, facing delays and cancellations, further questioning nuclear’s relevance in the global energy mix.

Source:
World Nuclear Industry Status Report 2024