The Nuclear Energy Renaissance: SMRs, Fusion, and the Road Ahead

A Renewed Global Interest

After decades of declining investment following Fukushima, nuclear energy is making a dramatic comeback. Over 60 countries have expressed interest in nuclear power, and more than 60 new reactors are currently under construction worldwide.

The driving forces behind this renaissance are clear: the need for reliable, low-carbon baseload power that can complement intermittent renewable energy sources like wind and solar.

Global Nuclear Capacity by the Numbers

The world currently operates approximately 440 commercial nuclear reactors across 32 countries, providing roughly 10% of global electricity generation. Key nuclear nations include:

• United States — 93 reactors, largest fleet globally
• France — 56 reactors, ~70% of national electricity from nuclear
• China — 55 operating reactors with 22 more under construction
• Russia — 37 reactors, major exporter of nuclear technology
• South Korea — 25 reactors, reversing its phase-out policy

Small Modular Reactors (SMRs)

SMRs represent the most significant innovation in nuclear technology in decades. These compact reactors (under 300 MW) offer several advantages over traditional large-scale plants:

• Lower capital costs — Factory-built modules reduce construction time and cost
• Flexible siting — Can be placed closer to demand centers or remote areas
• Enhanced safety — Passive cooling systems that function without external power
• Scalability — Multiple modules can be added incrementally

Several SMR designs are progressing toward commercial deployment, with projects in Canada, the United States, the United Kingdom, and Poland.

The Fusion Frontier

While commercial fusion remains further out, recent breakthroughs have energized the field. The National Ignition Facility achieved fusion ignition in 2022, and private fusion companies have collectively raised over $6 billion in investment.

Fusion promises virtually limitless clean energy with no long-lived radioactive waste, but commercial viability likely remains a decade or more away.

Companies like Commonwealth Fusion Systems, TAE Technologies, and Helion Energy are pursuing different fusion approaches, with some targeting demonstration plants by the early 2030s.

Policy Landscape

Government policy is shifting decisively in favor of nuclear:

• The EU has included nuclear in its green taxonomy
• Japan has restarted reactors and extended operating lifetimes
• The United States passed the ADVANCE Act to streamline nuclear licensing
• India plans to triple its nuclear capacity by 2032

What the energtx Data Shows

Our country-level energy data reveals the correlation between nuclear power and lower carbon intensity. France, with its heavy nuclear reliance, maintains one of the lowest CO2 emissions per capita among major industrialized nations, while countries phasing out nuclear — like Germany — have seen slower decarbonization progress.

Explore nuclear and energy mix data for 56 countries on energtx.com.