Nuclear Energy is one of the oldest sources of energy we have & countries like France & the US currently generate a significant amount of electricity through Nuclear Power Plants. In France, Nuclear Energy accounts for 70% of their electricity mix. However, the technology has been marred with controversy since the meltdown of the Fukushima power plant in Japan which caused countries like Germany, New Zealand, & Australia to shut down reactors. However, Nuclear Energy is one of the cleanest energy sources mankind has as it generates no GHG emissions & can run uninterrupted for long periods of time. Furthermore, after the initial cost of construction, nuclear energy is one of the most cost-effective energy solutions available as it requires less fuel to power the plant.
Small Modular Reactors are a leading cause behind the resurgence. They are a type of nuclear reactor design that is characterized by their smaller size & modular construction. Unlike traditional large-scale nuclear power plants, SMRs are designed to be more compact & scalable. This year saw a rapid increase in funding for SMRs & saw 12 EU Countries urge the EU to create a regional alliance for SMRs. An increased amount of funding has been going to developers of Fusion Technology as well. Companies like Kyoto Fusioneering & Blue Laser Fusion raised millions this year to facilitate advances in the technology. Scientists at Lawrence Livermore National Laboratory achieved net energy gain in a fusion experiment for the first time, signaling a promising breakthrough in the sector.
