Global Nuclear Sector Faces Financing, Supply Challenges for 2050 Expansion

The global nuclear landscape faces significant challenges despite growing demand for low-carbon power, with many experts warning that nuclear weapons proliferation and disarmament efforts are deteriorating. While nuclear power is increasingly seen as a vital source of reliable, carbon-free electricity, ambitious goals like tripling nuclear capacity by 2050 confront substantial obstacles including financing difficulties, uranium supply shortages, and the long lead times for mine and plant development. Recent shifts, such as the World Bank's decision to end its ban on financing nuclear projects, signal progress in attracting broader investment beyond traditional government sources. Innovations like Small Modular Reactors (SMRs) offer promising advantages by enabling faster, modular construction with lower upfront capital and scalable capacity, potentially transforming nuclear economics and deployment. However, the geopolitical tensions and supply chain issues underscore the complex environment in which nuclear energy expansion is occurring. Overall, while nuclear energy's role in decarbonization and energy security is expanding, systemic and market challenges remain formidable.