Australia Plans for Nuclear Energy Set Up but Confused over Productivity

By Shubhendra Anand , 26 November, 2024

The world seems to be transforming, with nations taking necessary actions related to energy transformation in 2024. The developing and developed economies are ready to invest in producing low-carbon emission-based fuels. Hence, the demand for renewable energy sources is growing daily. Electricity is the primary power hub in advancing societies and electric vehicles, and data centers play remarkable roles. Thus, renewables like wind and solar energy are gaining momentum in producing clean electricity. However, generating electricity from wind and solar for consistent supply is difficult. Therefore, countries like the United States, France, and others plan to use nuclear energy for electricity generation in 2024. Recently, Australia announced its nuclear energy plans for 2024. However, as claimed by the experts, there are certain hurdles, and the Australian government faces opposition.

According to the Australian government's decision in 2024, the country looks forward to building seven government-sponsored nuclear plants. Australia plans to set up two of these seven nuclear plants from 2035 to 2037. The rest of the plants will be built in the late 2040s. However, the Australian government faces staunch opposition from its officials as the government body fails to provide an exact budget for these nuclear plants. Commonwealth Scientific and Industrial Research (CSIRO) claims that if Australia plans to adopt nuclear power in 2025, the reactor will take 15 years to produce results. CSIRO reports that USD 17 billion would take to build one nuclear reactor in Australia. Additionally, the electricity produced from these nuclear plants would cost 50 percent more than renewables, like solar and wind.

France and the United States emerged as the world leaders in the nuclear energy and supply race. France has 56 nuclear reactors that could produce 65 percent of its energy needs. The United States operates about 94 active nuclear reactors. However, it covers only 18 percent of the country's needs. Additionally, there are mixed reviews regarding nuclear energy plants in Australia. This is due to an unstable discussion over whether or not nuclear energy can lower the cost of electricity.

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