Nuclear energy gains importance as climate change and growing demands challenge the world. The global Nuclear Power market is expected to produce 2.76 trillion kWh of electricity by 2025. A yearly growth rate of 1.59% is expected for the timeframe spanning from 2025 to 2029 (CAGR 2025-2029). It generates large quantities of low-carbon electricity and provides sustainable practices for reducing greenhouse gas emissions while attaining climate objectives. While wind and solar rely on weather conditions, nuclear energy provides a reliable and consistent baseload of power that ensures electricity supply is not interrupted even during demand periods. More than those benefits to environmental security and energy security, nuclear power promotes economic development by creating employment, technological input, and industrialization. In this strategic moment, long-term investment in nuclear power would also contribute to financial benefits as well as environmental gains for the transition toward sustainable energy systems.
Nuclear energy in India has witnessed technological changes in its economic and operational landscape. These changes are embodied in the advent of Small Modular Reactors. India aims to install 40–50 small modular nuclear reactors, primarily to substitute captive thermal power plants to achieve net-zero emissions by 2070. To develop the Bharat Small Modular Reactor, the Department of Atomic Energy along with Tata Consulting Engineers are reworking the PHWRs.
“We are going to take the old design of the PHWR and then reconfigure and redesign it to be modular, scalable and safety-aligned to post-Fukushima standards,” said Amit Sharma, Managing Director and CEO, Tata Consulting Engineers.
Unlike conventionally large reactors, SMRs are compact, efficient, and easy to build with a reduced financial burden as compared to projects involving nuclear energy. Furthermore, these reactors provide flexibility whereby plants would be able to increase or decrease production depending on energy demand. Innovations in cool and passive safety mechanisms in reactors have increased safety levels to public expectations and reduced operational risks. The improvements in fuel technology allow the use of its higher-assay uranium derivatives, such as HALEU, increasing efficiency and lifespan, thereby making nuclear energy even more cost-effective. The cost of nuclear energy is less expensive than coal gas and other sources. With a 10% discount rate nuclear energy remains less costly than coal in South Korea and the USA, yet it is pricier in Japan, China, and India.
Dr R Chidambaram, principal scientific adviser, government of India said, "Making technology choices requires foresight and forecasting as per the country's needs and in order to improve the quality of life and standard of living of people India cannot do without nuclear power."
Nuclear energy has a longer operational life which gives excellent payback on its initial investment. Plants operate for 40 to 60 years or even more, decreasing the cost of electricity per unit, and making it a viable source of energy to fossil fuel. Carbon pricing and renewable subsidies are changing energy markets, thus nuclear energy maintains a low-carbon profile. Nuclear energy is getting more affordable with the provision of incentives by governments and private sectors investing in next-generation reactor technologies. For instance, NPCIL leads the nuclear energy initiatives of India and operates advanced reactors like the Pressurized Heavy Water Reactor (PHWR) to generate cost-effective and efficient power for the nation.
In the rapidly shifting global energy landscape, nuclear power is a decisive competitive advantage. As countries move towards cleaner energy transition, investment in nuclear energy places them at the leading edge of sustainable energy innovation. The International Energy Agency (IEA) states that nuclear power produces about 10% of the world's electricity. It produces a greater amount of carbon-free energy than both wind and solar together. It produces greater carbon-free energy than both wind and solar together. Stable high-capacity nuclear energy power electricity and help strengthen the nation’s energy independence along with not being dependent on unstable fossil fuel imports. Countries possessing nuclear infrastructure will be least exposed to geopolitical conflicts and fluctuations in the energy market. Besides this, nuclear energy helps maintain stability, as this source supplements other renewable energies, such as wind and solar energy, which are unstable and intermittent production nature.
Nirmala Sitharaman, Minister of Finance & Corporate Affairs said, "So we are fulfilling our requirements as committed in renewable energy. But for a country of India's size, renewable energy alone can't give us sufficiency in meeting all the base requirement for energy. Base requirement is something which should be without doubt, without speculation keep flowing and in that renewable energy has a shortcoming. So in that sense nuclear comes off a great use. Also now, thermal is being discouraged in a big way."
Nuclear technology is economically developing jobs and more industries. Nuclear plants are set up and operational and offer jobs for engineers, manufacturers, and for further research. It encourages innovation, especially in the development of advanced technologies such as fusion energy that provide limitless clean power. Countries that invest in nuclear energy gain leverage over energy diplomacy. It becomes a strategic influence factor while the economy is simultaneously growing. For example, BHEL partners with NPCIL to manufacture critical components for nuclear reactors, thus strengthening India's self-reliance in nuclear technology and improving its position in the global energy sector.
As the world strives to mitigate global warming, nuclear power battling climate change which serves the world by providing an essential form of low-carbon energy, with significantly less harmful emissions compared with traditional fossil fuel technologies. India has established its goal to increase its nuclear power capacity by 2047, increasing it from the present 7.5 GW to 100 GW. The advantage of nuclear energy is that as renewables are bound to the weather, nuclear plants run continuously without disruption and guarantee that energy will be supplied in the baseload to meet the energy demands. Nuclear energy is scalable enough to be utilized in small as well as large energy grids and thus can satisfy the needs of different regions. It is more crucial in cities and industries where the use of energy is high. Moreover, advancements in technology at the reactor level have reduced wastage and efficiency maximization which has also rendered nuclear energy an eco-friendly source.
Ajit Kumar Mohanty, Chairman, Atomic Energy Commission said, "As India sets its path to establish itself as a developed nation (Viksit Bharat), the Government of India has envisaged a significantly greater role for Nuclear Energy in next two decades to ensure dual challenge of energy security and balancing climate goals.”
Other than emissions, nuclear energy decreases air pollution caused by fossil fuel combustion. High-polluting countries like India and China can greatly reduce air pollution by switching to nuclear power. Furthermore, with increasing global temperatures, nuclear energy is viable for providing power for desalination and cooling systems, solving water scarcity problems. For example, Tata Power partners with NPCIL to distribute clean nuclear energy, contributing to India’s low-carbon electricity grid and supporting the nation’s climate goals with reliable, sustainable power solutions.
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