US as many as 15 years behind China on nuclear power, report says
U.S. and Chinese flags are seen in this illustration taken, April 24, 2024. REUTERS/Dado Ruvic/Illustration/File Photo Purchase Licensing Rights
WASHINGTON,
June 17 (Reuters) - The U.S. is as many as 15 years behind China on
developing high-tech nuclear power as Beijing's state-backed technology
approach and extensive financing give it the edge, a report said on
Monday.
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.