IAEA Raises 2050 Nuclear Power Generation Forecast: "Nuclear Energy Essential for Carbon Neutrality"

Outlook Revised Upward from 715GW to 792GW
First Adjustment in 10 Years Since Fukushima Accident
"Nuclear Power Essential for Carbon Zero Achievement and Power Demand Response"

[Image source=AP Yonhap News]

[Asia Economy Reporter Kim Suhwan] The International Atomic Energy Agency (IAEA) has revised upward its potential growth forecast for global nuclear power generation by 2050.

On the 16th (local time), the IAEA announced in a report that nuclear power capacity could reach up to 792 GW (gigawatts) by 2050.

This is about double last year's 393 GW and approximately 10% higher than the previous forecast of 715 GW.

The IAEA stated in the report, "This is the first revision of the forecast in 10 years since the Fukushima nuclear accident in Japan," adding, "As countries around the world are replacing fossil fuels with other energy sources to combat climate change, we have adjusted the forecast accordingly."

According to the IAEA, if nuclear power capacity increases as projected, the share of nuclear power in global electricity generation will grow from 10% last year to 12% by 2050.

However, the IAEA added that this forecast is only achievable if innovative nuclear technologies are introduced.

According to the IAEA, a conservative estimate predicts that nuclear power capacity in 2050 will be about 392 GW, similar to last year's 393 GW.

The IAEA claimed that this upward revision of the forecast "reflects the recognition of climate change issues and the importance of nuclear power in reducing (greenhouse gas) emissions during electricity production."

Rafael Grossi, Director General of the IAEA, said, "The new forecast shows that nuclear power will continue to play an essential role in low-carbon energy production."

The IAEA emphasized that innovation in nuclear technology is essential to achieve carbon neutrality and that technologies such as hydrogen production using nuclear power and small modular reactors must be introduced.

The IAEA stated that global electricity production is expected to roughly double over the next 30 years, and nuclear power generation must increase accordingly.

In particular, the IAEA stressed that since two-thirds of the world's reactors have been operating for over 30 years, more nuclear power plants need to be constructed to replace aging reactors.