Nuclear Can Play ‘Lasting Role’ In Global Economic Growth
Written by NucNet
Tuesday, 24 January 2012
With 65 reactor units under construction around the world the nuclear energy industry can play an important role in job creation and economic growth, providing both near-term and lasting employment and economic benefits, a US industry group has said.
As a result, the years ahead will see a surge in demand for materials, components and services for the global nuclear industry.
In a policy document published online the Nuclear Energy Institute said 104 nuclear reactor units in the US generate “substantial domestic economic value” in electricity sales and revenue – about 40 to 50 billion US dollars (about 30 to 38 billion euro) each year – with more than 100,000 workers contributing to production.
Worldwide, over 150 new nuclear plant projects are in the licensing and advanced planning stage, with 65 reactors under construction, the NEI said.
The US Department of Commerce estimates the global market for nuclear products, services and fuel at $500 to $740 billion over the next 10 years.
The US Department of Energy projects that US electricity demand will rise 24 percent by 2035, about one percent each year. That means the US will need “hundreds of new power plants” to provide electricity to meet rising demand and replace aging infrastructure, the NEI said.
