Global Nuclear Generation Set To Increase By 71% By 2040, Says Japan Report

27 Oct (NucNet): Electricity generation from nuclear power will increase by 71% from 2,535 TWh in 2014 to 4,357 TWh in 2040, while nuclear’s percentage of total global electricity generation will be unchanged from the current level of 11%, a report by the Institute of Energy Economics of Japan (IEEJ) says. Installed capacity will decrease in eight countries and regions, including Germany and Japan, but will nevertheless grow from 399GW in 2015 to 612GW in 2040 as a result of the introduction of nuclear power in 14 countries and construction and expansion in 18 countries, according to the report. In Southeast Asia, 16GW of nuclear capacity will be introduced in Thailand, Vietnam, Indonesia and Malaysia from 2025 onwards, but will still account for only 4% of the region’s energy composition in 2040. The report says total energy consumption will increase from 13,699 million tonnes of oil equivalent (Mtoe) in 2014 to 18,904 Mtoe in 2040. The increase of 5,205 Mtoe is equivalent to the combined consumption of the US and China, the two largest consumers of energy. The 2040 figure will mark a doubling of global energy consumption in the half century since 1990. Ken Koyama, chief economist and managing director at the IEEJ, said that while demand for all energy will increase, growth of renewables, nuclear and other non-fossil energy sources will be “remarkable”. But he said that in 2040 the world will still depend on fossil fuels such as coal, oil and gas for 74% of its energy supply.