A record level of global nuclear power production in 2024 will be difficult to sustain without fresh investment as ageing fleets, project delays and competition from cheaper renewables bite, the World Nuclear Industry Status Report said, Reuters reported on September 22.

Global nuclear generation reached 2,677 terawatt-hours in 2024 after two years of decline, largely on the back of growth in China, according to the annual report compiled with contributions from multiple research groups. But keeping output steady through 2030 would require 44 additional startups beyond those already scheduled, lifting annual commissioning to roughly two and a half times the pace of the past decade, the report said.

The study cited structural headwinds including ageing plants, sluggish construction and accelerating system disruption from renewable energy, alongside a China-centred pattern of new builds.

From 2020 to mid-2025, 44 of 45 new construction starts were by Chinese or Russian state companies in countries such as Egypt and Turkey, underscoring the extent to which expansion is concentrated outside Western markets.

Price pressure from alternatives is intensifying. Investment in non-hydro renewables was 21-times nuclear spending last year, while added renewable capacity was more than 100 times net nuclear additions, the report said. Battery costs fell about 40% in 2024, sharpening the cost-exchange against baseload reactors even as nuclear project costs continue to rise.

Project risk remains elevated. The report warned there is “no evidence of a vigorous global nuclear buildout” and that nuclear’s share of global power generation, 9% in 2024, is likely to erode further unless delivery and economics improve markedly. Small modular reactors remain largely aspirational in Western markets, with no Western SMR construction under way; China is the exception, with two SMR designs in operation or build, though available operational data are limited.

While several countries have signalled a nuclear revival as part of plans to cut fossil fuels, the report concludes that cost and delivery dynamics are shifting the centre of gravity. “Together these new technologies are evolving towards a highly flexible fully electrified energy system... outcompeting traditional centralized fossil and nuclear systems,” the report said.