Global nuclear power output reaches record levels, accounts for lower energy share

Global nuclear power output totalled 2,677 terawatt-hours (TWh) in 2024, some 14 TWh higher than the previous record that was set 18 years earlier, the latest World Nuclear Industry Status Report (WNISR) has found.

This marked a 2.9% increase, year-on-year, following a 2.2% increase in 2023, and a 4.4% drop in 2022.

Outside of China, however, nuclear power generation in 2024 remained 363 TWh below the previously-set record (a 14% drop), with the Asian country responsible for much of the nuclear development last year, including small modular reactors.

Share of electricity market

Some seven new nuclear reactors started up last year, with four closing, while nuclear energy’s share of global commercial gross electricity generation declined slightly (-0.13%) to reach 9%. This is 45% below the 17.5% peak it recorded in 1996.

Between 2005 and 2024, some 104 nuclear reactors started up, with 101 closing. Notably, of these, 51 startups and no closures were located in China, meaning that outside of China, there has been a net decline of 48 units over the same period.

As of 1 July this year, a total of 408 reactors were in operation across 31 countries. This is 30 less than the historic peak of 438 global reactors, which was recorded in 2022.

Renewable technologies

In particular, renewable technologies such as solar, wind, and battery storage expanded rapidly last year, which has presented difficulties for traditional fossil fuel- and nuclear-based energy models, it noted.

‘2024 has seen an unprecedented boost in solar and battery capacity expansion driven by continuous, significant cost decline,’ the report noted.

‘Solar and wind power capacities grew by 32% and 11%, respectively, resulting in 565 GW of combined new capacity, over 100 times the 5.4 GW of net nuclear capacity addition. Global wind and solar facilities generated 70% more electricity than nuclear plants.’

The report concludes that unless project timelines improve and financing increases, nuclear’s share of global electricity (9% in 2024), is likely to decline. Read more here.