The Japanese Prime Minister has decided to begin a revival of their old nuclear reactors. The Japanese government noted its efforts to bring back three reactors back online, adding more potential to the uranium and nuclear energy narrative.
Prime Minister Yoshide Suga noted its goal of minimizing greenhouse gas emission over 45% by the end of this decade. The statement came after the recent virtual climate summit with several world leaders.
As such, the Kansai Electric Power reactor in Fukui Prefecture will begin operations relating to several units onsite. At the same time, it is necessary to note that Japan has not moved forward to build more power plants relating to the nuclear energy field. Japan may start to initiate more activities in this regard to improve their infrastructure and add reactors to their energy grid.
To stay in line with their objectives and generate over 18% of their total power through nuclear energy, Japan will need to make adjustments and turn on older reactors or build new ones.
Now, the general nuclear community will need to know how Japan will ensure safety and security when it comes to potential risk factors.
Why Nuclear Energy is Preferable
Nuclear energy is preferable to other methods because it is practical and efficient. Experts note that using nuclear allows for more output thereby addressing demand and reliability. At the same time, nuclear energy allows for more robustness in the energy grid and will not have issues in inclement weather like wind turbines.
The benefits of nuclear energy is that it is low cost, it is reliable, has zero carbon emissions, significant energy density, and has shown that it can provide value for over thirty years now.
You might not have known that nuclear energy provides powers a fifth of the United States energy capacity. Nuclear plants have been working in the United States since the late 1950s and the United States now has over 90 running nuclear reactors at over 25 states.
Two new nuclear plants will come online in Georgia in 2021 or 2022.
It can have value in more ways than one as it can power operations on Earth and can be useful in space travel.
The Uranium Sector Has Been Sluggish Due to Lower Demand But Have Catalysts for Growth
The uranium sector has not been as bullish for over a decade. But a global coordinated push by governments for a full-blown transition to green energy over the next decade could cause the depressed uranium sector to grow and thrive.
The Biden Administration has been sending messages that focus around a green energy revolution with grand goals of emission reductions. They are following the Paris Accords which will likely drive the demand for efficient sources of power from underrepresented sectors like uranium.
It is hard to downplay the enormous power present with the use of uranium and nuclear energy. While issues such as events at place like Fukushima have taken place, it is necessary to note that with the right equipment, upgrades, and containment measures, one can mitigate nuclear risk.
Surprisingly, activists support the need for nuclear power, again, an undervalued source of power in this bold transition to full renewable energy over the next few decades.
Experts are expecting at least a 26% increase in nuclear demand over the next decade. Meanwhile, the uranium spot price remains at depressed levels.