After decades of stagnation, global nuclear energy supply is expected to increase significantly in the coming years, according to a report by Brian Lee and Carly Davenport, analysts at Goldman Sachs Research.
“By 2040, our analysts forecast that global nuclear generation capacity will increase from 378 gigawatts (GW) to 575 GW, representing a rise in nuclear energy’s share of the global electricity mix from approximately 9% to 12%,” the note states.
The projected increase in generation capacity coincides with a rise in global support for nuclear energy and a resurgence in investment in nuclear generation. In May, President Donald Trump signed executive orders to accelerate the adoption of nuclear energy in the U.S., aiming to expand nuclear power from the current 100 GW to 400 GW by 2050. Meanwhile, China plans to build 150 nuclear reactors over the next 15 years, targeting 200 GW of nuclear generation capacity by 2035. At the latest COP29 meeting, held in November 2024, 31 countries committed to advancing toward the goal of tripling global nuclear generation by 2050.