Canada introduced an investment tax credit of up to 30% for clean energy technologies in late 2022, explicitly including small modular reactors (SMRs), and Canada’s Infrastructure Bank granted a loan to build an SMR as early as 2028 at an existing nuclear site.Belgium recently decided to extend the operation of two existing reactors from 2025 to 2035, which will meet around 15% of electricity demand.Support for innovation in nuclear power, including small modular reactors, will also help expand the range of low-emission options and widen the path to net zero power.Ĭountries and regions making notable progress to advance nuclear electricity include: Additional effort is needed to accelerate new constructions – 8 GW of new nuclear capacity was brought online in 2022, but the Net Zero Scenario calls for over four-times as much annual deployment by 2030. Lifetime extensions of existing nuclear power plants are one of the most cost-effective sources of low-emission electricity, and there have been several positive policy developments to take full advantage of these opportunities including in the United States, France and Japan. More efforts are needed to get nuclear power on track with the Net Zero Emissions by 2050 Scenario. It is also an option for producing low-emission heat and hydrogen. For those countries where it is accepted, it can complement renewables in reducing power sector emissions while also contributing to electricity security as a dispatchable power source. Nuclear power is an important low-emission source of electricity, providing about 10% of global electricity generation.

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