|
China has 27 nuclear reactors under construction with average
construction timelines of about seven years, far faster than
other countries, said the study by Information Technology &
Innovation Foundation, a Washington-based nonpartisan research
institute.
"China’s rapid deployment of ever-more modern nuclear power
plants over time produces significant scale economies and
learning-by-doing effects, and this suggests that Chinese
enterprises will gain an advantage at incremental innovation in
this sector going forward," the report said.
The U.S. has the world's largest fleet of nuclear power plants
and President Joe Biden's administration considers the virtually
emissions-free electricity source to be critical in curbing
climate change.
But after two large plants in Georgia came online in 2023 and
2024 billions of dollars over budget and delayed by years, no
U.S. nuclear reactors are being built. A high-tech plant that
had been planned to be built at a U.S. lab was canceled last
year.
China's state-owned banks can offer loans as low as 1.4%, far
lower than available in Western economies. Its nuclear power
industry has benefited from sustained state support and
localization strategies that has allowed China to dominate
sectors like renewable power and EVs.
The world's first so-called fourth-generation high-temperature
gas cooled reactor at Shidao Bay came online last December. The
China Nuclear Energy Association claims that the project
involved the development of more than 2,200 sets of "world-first
equipment" with a total localization rate of domestically
produced materials of 93.4%.
Backers of high-tech reactors say they are safer and more
efficient than current plants. Critics say some new reactors
introduce proliferation and material risks.
It has not all been smooth sailing for China. The China Nuclear
Energy Association has warned that there was a severe glut in
nuclear component production, and "excessive competition" was
driving down prices and causing losses.
Stephen Ezell, the report's author, said if the U.S. is serious
about nuclear it should develop a robust national strategy
involving more investment in research and development,
identifying and accelerating promising technologies, and
supporting development of a skilled workforce.
"While America is behind, it can certainly catch up
technologically," said Ezell.
The U.S. Department of Energy did not comment on the report.
(Reporting by Timothy Gardner; additional reporting by David
Stanway in Singapore; Editing by David Gregorio)
[© 2024 Thomson Reuters. All rights
reserved.]
Copyright 2022 Reuters. All rights reserved. This material may
not be published, broadcast, rewritten or redistributed.
Thompson Reuters is solely responsible for this content.
|
|
