The United States is lagging behind China in the development of advanced nuclear power, potentially by as much as 15 years, according to a recent report.
Beijing’s state-backed approach to technology and substantial financial investments are propelling it forward.
Meanwhile, the U.S. has not initiated construction on any new nuclear reactors since the completion of two costly and delayed projects in Georgia in 2023 and 2024.
China’s Rapid Expansion and Innovation
China is currently constructing 27 nuclear reactors, with an average construction time of approximately seven years, significantly faster than other nations.
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This rapid deployment is fostering economies of scale and valuable learning experiences, further solidifying China’s position as a leader in nuclear innovation.
China’s state-owned banks play a crucial role in this progress, offering loans with interest rates as low as 1.4%, a stark contrast to the higher rates available in Western economies.
Additionally, consistent state support and localization strategies have bolstered China’s nuclear industry, mirroring its success in renewable energy and electric vehicles.
Technological Advancements and Challenges
In December, China celebrated a significant milestone with the launch of the world’s first fourth-generation high-temperature gas-cooled reactor at Shidao Bay.
This project boasted a localization rate of 93.4% for domestically produced materials, underscoring China’s commitment to technological self-reliance.
However, the Chinese nuclear industry has also encountered challenges, including overproduction of nuclear components and “excessive competition” leading to financial losses.
The report’s author, Stephen Ezell, emphasizes the need for a comprehensive national strategy to revitalize the U.S. nuclear sector.
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This strategy should encompass increased investment in research and development, identification and acceleration of promising technologies, and cultivation of a skilled workforce. Ezell remains optimistic, stating that while the U.S. is currently behind, it has the potential to catch up technologically.