Global Nuclear Power in 2024: Renewables Surge, Expansion Continues
The global nuclear power landscape has seen significant shifts in 2024. While nuclear generation increased by 2.9% to 2,677 TWh, its share in the electricity mix dropped to 9%, the lowest in four decades. Meanwhile, renewable capacities surged, with solar and wind growing by 32% and 11% respectively, adding 565 GW of new capacity.
Despite the growth in renewables, only 23 of the 218 closed nuclear plants have been fully decommissioned. Two European nuclear startups, Newcleo and Naarea, face financial struggles. However, nuclear expansion continues, with 63 reactors totaling 60 GW under construction worldwide, led by China with 32 projects. Key players like Korean Hydro & Nuclear Power (KHNP) are involved in major projects, including the Czech Dukovany project.
In 2024, global nuclear power generation increased by 2.9% year-on-year to 2,677 TWh. The average age of operating plants rose to 32.4 years, with two-thirds operating for over 31 years. Between January 2024 and June 2025, 8 reactors were activated and 4 were closed worldwide.
Investment in non-hydro renewable electricity capacity reached $728 billion in 2024, 21 times the reported global investment in nuclear energy. Despite the growth in renewables, nuclear power remains a significant player, with ongoing expansion and increased generation. However, the financial challenges faced by some nuclear startups and the slow pace of decommissioning highlight the complex dynamics at play in the global energy sector.
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