The table below shows various LCOEs of alternative energies (units are in $/MWh). One metric that environmentalists use to compare costs across energy sources is the levelized cost of energy (LCOE), defined as the sum of all the money it takes to build the power plant and operate it for its entire life, divided by the amount of electricity it produces over those years. One of the biggest challenges for nuclear fission is economic: New plants take years to build and cost billions of dollars. Coolants also serve to maintain manageable pressures within the core. To this end, reactors use coolants (e.g., water) that remove heat from the core where the fuel is processed and carry it to electrical generators. The heat released by fission in nuclear reactors must be captured and transferred for use in electricity generation. That’s why traditional nuclear reactors, which are known as Generations I, II, and III “light water reactors,” use a moderator (typically water) to decrease neutron velocity and keep the reaction going. However, the likelihood of subsequent fission occurring on its own is low because these additional neutrons from the fission reaction are moving so fast. Additional neutrons are also released from the fission reaction, subsequently striking other U-235 and releasing more energy in a chain reaction. After absorbing the neutron, U-235 turns into the violently unstable U-236 and immediately splits into two smaller nuclei, releasing a tremendous amount of energy. How nuclear fission worksįission occurs when a neutron comes in contact with a larger nucleus (say, Uranium-235).

As the scientific community along with hopeful investors and entrepreneurs rally around the advancements in nuclear fission, we see it as a promising avenue for decarbonizing the future while meeting the world’s energy needs. While the technology and progress of nuclear fusion is astonishing, we think the future of nuclear fission holds equal potential to support society in the coming decades. Nuclear fusion has been garnering a significant amount of attention-perhaps at the neglect of its older sibling, nuclear fission. Look no further than the flurry of funding that capped off 2021, as fusion startups Commonwealth Fusion Systems, Helion Energy, and General Fusion cumulatively raised about $2.5 billion. Over the past few months, venture activity in nuclear has converged upon nuclear fusion. (by 2030).Įxperts predict that solar and wind can meet ~70% of the world’s energy demands, but what energy sources will take up which shares of the remaining pie? The remaining must be covered by some combination of other low-carbon sources like hydro, biomass, geothermal, gas/oil with carbon sequestration, and, of course, nuclear. Japan, Canada, and the EU have already passed legally binding net zero commitments, and more than 130 countries have now set or are considering a policy target of reducing emissions to net zero, including China (by 2060) and the U.S. As a result, countries around the world have banded together to decarbonize the energy grid. Energy Information Administration (EIA) predicts that global energy consumption in 2050 will increase by 50%, but we absolutely can’t afford to meet this incredible level of energy consumption with our current greenhouse gas-laden methods for energy generation: The consequences to our environment would be dire. More recently, European Union lawmakers voted in favor to label nuclear power a “green” source of energy, and France decided to nationalize one of its nuclear power plants to assist in the global energy crisis.īut the momentum for nuclear power goes beyond what’s happening in Ukraine. Elon Musk himself issued a call for governments to restart dormant nuclear power plants, even offering to eat food grown locally at nuclear power plant locations just to prove that there would be no radiation risk. For instance, Belgium, which had previously vowed to close all its nuclear plants, is now keeping them running for a while longer. As geopolitical tensions in Ukraine continue to destabilize the global economy, Western countries have begun to revisit their stance on nuclear power as a way to cut ties with Russian oil.

Nuclear fission power plant