核能新时代之路（英）2025

Investment Rating - The report indicates a positive outlook for nuclear energy, suggesting a new era of growth driven by rising electricity demand and supportive policies in over 40 countries [6][32]. Core Insights - Nuclear energy is positioned to address energy security and climate concerns, with significant investment and technological advancements occurring globally [6][7]. - The report highlights the potential of small modular reactors (SMRs) to transform the nuclear landscape, with the first commercial operations expected around 2030 [11][12]. - A multi-country initiative aims to triple global nuclear capacity by 2050, with annual investment in nuclear rising to over USD 60 billion [34][55]. Summary by Sections Status of Nuclear Energy - In 2023, nuclear energy provided 9% of global electricity, making it the second-largest source of low-emissions electricity after hydropower [55][58]. - The average age of reactors in advanced economies exceeds 36 years, while emerging economies have a younger fleet averaging less than 18 years [74][76]. - There are currently 63 reactors under construction, with a significant portion in China, indicating a shift in market leadership towards emerging economies [34][78]. Outlook for Nuclear Investment - The report projects that nuclear generation will reach an all-time high in 2025, driven by restarts in Japan and new reactors in various markets [33][34]. - Investment in nuclear is expected to increase significantly, with a focus on SMRs, which could account for a substantial share of future capacity [38][42]. - The report emphasizes the need for government support and innovative financing models to attract private investment in nuclear projects [16][42]. Financing Nuclear Projects - Financing for nuclear projects remains challenging due to high capital costs and long construction timelines, necessitating a mix of public and private funding [16][43]. - The report suggests that reducing construction costs and improving project timelines are essential for attracting more private investment [44][46]. - SMRs are highlighted as a potential solution to lower investment costs and enhance the attractiveness of nuclear financing [39][46].