A new report, the World Nuclear Performance Report 2024, shows a significant increase in global nuclear power generation and average capacity factors. These results demonstrate the continued excellent performance of the world’s nuclear reactor fleet.
Key findings of the report include an increase in global electricity generation from nuclear energy to 2602 TWh in 2023 (compared to 2544 TWh in 2022), meaning nuclear energy now accounts for 9% of global electricity, making nuclear the second largest source of clean energy after hydropower.
In addition, the average capacity factor of nuclear reactors increased by 1%, reaching 81.5% in 2023, continuing the trend of high global capacity factors observed since 2000 and underlining the reliability of nuclear energy as a clean energy source.
For over 20 years, nuclear reactors have consistently maintained a capacity factor of over 80%, underscoring their reliability in supplying power to the grid. This long-term performance record underscores nuclear power’s role as one of the most reliable sources of clean energy.
A power plant for clean energy
The report further showed that there was a balance between reactor shutdowns and new reactors being connected to the grid in the global nuclear industry. Five reactors were shut down, while five new reactors were connected to the grid in various countries, including China, Slovakia, the United States, Belarus and South Korea.
A significant milestone for the United States was the connection of Vogtle 3 to the grid. It is the first nuclear power plant to be started and completed in over 40 years. Vogtle 4 is expected to follow shortly.
The year was also marked by a concentration of new construction activity in Asia, where nuclear power generation has seen a sustained and significant increase over the past decade. Of the 64 reactors currently under construction worldwide, more than two-thirds are in Asia, with 30 reactors being built in China alone.
In 2023, 5 of the 6 new builds were in China and the remaining in Egypt, contributing to Africa’s growing role in the global nuclear landscape. Eastern Europe and Russia followed Asia in the number of nuclear power plants under construction, further reflecting regional dynamism in the nuclear energy sector.
France, the host of the 2024 Summer Olympics, relied heavily on nuclear energy. Over 60% of its electricity was generated in nuclear reactors, thanks to the restart of several French reactors, which provided an additional 42 TWh. The 1% year-on-year increase in the global capacity factor reflects strong and consistent reactor performance, regardless of the age of the reactors.
Asia leads the expansion of nuclear energy
The environmental impact of nuclear energy is remarkable: the reactors have prevented 2.1 billion tons of carbon dioxide emissions. This figure is higher than the annual emissions of almost all countries. Only China, the USA and India have higher national CO2 emissions.
The report highlights that 64 reactors are currently under construction in 15 countries and more than 20 countries, including Ghana, Poland and the Philippines, are developing strategies to enable the construction of their first nuclear power plants.
Dr. Sama Bilbao y Leon, Director General of the World Nuclear Association, stressed that nuclear energy remains one of the most reliable sources of clean energy for the grid. She also pointed to the continued excellent performance of the world’s reactor fleet, the rapid expansion of nuclear power in the UAE and the growing nuclear power generation in China as indicators of a high-performing industry.
Dr. Sama continues:
“The global nuclear industry is entering a period of major expansion. At COP 28, 25 countries signed a commitment to triple global nuclear capacity by 2050. What is exciting is that new reactors are coming online in a wide range of countries and there are plans to build new reactors… Our performance report shows that the reactors being built now will produce reliable, carbon-free energy for decades to come.”
The role of nuclear energy in promoting clean energy worldwide
Despite a slight decline in global nuclear power capacity – by one gigawatt due to the start-up of five reactors and the closure of five more – the increase in electricity generation underscores the efficiency and value of nuclear energy.
In 2023, nuclear reactor capacity factors in most regions remained at the average levels of the past five years. North America continued to lead with the highest average capacity factors, underscoring the reliability and efficiency of its nuclear power plants.
In contrast, Africa’s only operational nuclear facility, South Africa’s Koeberg Nuclear Power Plant, experienced significant outages in 2022 and 2023 due to major steam generator replacements, impacting its performance during this period. Despite these challenges, Koeberg remains a critical part of Africa’s energy infrastructure.
The report also provides details on new grid connections and construction starts. In 2023, five reactors will be connected to the grid for the first time in countries such as China, Slovakia, the USA, Belarus and South Korea.
In Asia, particularly in China, electricity generation from nuclear energy has increased significantly and sustainably over the last decade. Of the 64 reactors currently under construction, more than two-thirds are in Asia, 30 of them in China alone.
Africa, especially the Egyptian El-Dabaa project, is now ahead of North and South America and Western and Central Europe in terms of the number of reactors under construction, while Eastern Europe and Russia are behind Asia in terms of the number of reactor blocks under construction.
Overall, the global push for decarbonisation is gaining momentum, while nuclear energy is increasingly recognised as a reliable solution to meet the world’s growing demand for clean, safe and affordable energy.
As countries work to rapidly increase carbon-free energy production to meet their decarbonization goals, nuclear energy is gaining support across countries. This shift reflects its potential to provide a stable and reliable source of energy while helping to reduce global carbon emissions.
