IAEA Projects 950 GW of Global Nuclear Power Capacity by 2050

Darrell Proctor | Source: Power | Posted 09/18/2024

The International Atomic Energy Agency (IAEA) said generation capacity of nuclear power worldwide is expected to rise more than the group previously expected, to as much as 950 GW of generation by 2050. The IAEA in a report published Sept. 16 revised its annual projection for a fourth straight year, saying global nuclear capacity could jump by 2.5 times its current capacity by mid-century.

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The International Atomic Energy Agency (IAEA) released a report projecting global nuclear power capacity to reach as much as 950 GW by 2050, revised upward for the fourth consecutive year. The agency anticipates a significant contribution from small modular reactors (SMRs) to drive higher nuclear generation. These findings align with the global emphasis on accelerating the deployment of nuclear energy to meet climate goals and promote sustainable development.

The IAEA's report noted the operation of 413 nuclear power reactors globally, with a combined capacity of 371.5 GW by the end of 2023. The agency forecasts potential growth scenarios, with nuclear capacity projected to rise to 950 GW by 2050 in the high-case scenario. Additionally, many countries are considering introducing nuclear power into their energy mix, while existing plants are extending their lifetimes to provide cost-effective low-emission electricity. The IAEA emphasizes the need for government policies, investment support, and global collaboration to achieve these projections, with a focus on developing SMRs and demonstration projects.

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IAEA Projects 950 GW of Global Nuclear Power Capacity by 2050

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