Nuclear power revival is not living up to the hype

Bloomberg finds that countries with steady government support and a continuous domestic supply chain — notably China, Russia and India — are expanding nuclear capacity, while the US and parts of Europe face aging fleets, delayed projects and higher costs.

Nuclear power is receiving renewed interest from governments, utilities and technology firms seeking carbon‑free, round‑the‑clock energy. Policy moves and investment proposals in several countries have added momentum. Still, long periods of slow construction have hollowed out expertise in many established nuclear industries. That contrast between maintained build programs and disrupted supply chains is central to current expectations about where new capacity will actually be built. Key facts: - China has about 33 reactors under construction and approved a 200 billion yuan program to add ten more; Bloomberg’s analysis shows it could overtake U.S. capacity by 2032 if current plans hold. - The United States currently has 94 reactors with an average age of 44 years, and output is expected to level off over the next decade as few new large plants come online. - U.S. policy changes include an $80 billion plan to subsidize new facilities and speed experimental designs, but large projects have faced persistent delays and cost increases. - Recent builds in developed countries have seen setbacks; Vogtle in Georgia was completed in 2024 years behind schedule and at more than double its original estimated price. - Interest in small modular and advanced reactors is rising, yet only one design has received certification and none of the new designs have entered full‑scale construction. Summary: The report highlights a divide: nations with continuous state backing and a domestic industrial base are expanding nuclear capacity more rapidly than those rebuilding lost expertise. That execution gap is likely to shape which countries add large amounts of new nuclear generation and who can supply associated technologies. Undetermined at this time.