Fatih Birol Profile picture
Jun 30 7 tweets 5 min read
Nuclear power has a unique opportunity to stage a comeback amid the global energy crisis, soaring fossil fuel prices, energy security challenges & increased climate ambitions

But whether this happens will depend on governments & industry

New from @IEA ⬇️ iea.li/3ywoMzt
A nuclear power comeback is far from guaranteed

In advanced economies that see a role for nuclear, governments need to enact policies to kick-start investment

And the nuclear industry has to overcome recent cost overruns & delays to deliver new projects on time & on budget
In @IEA’s #NetZero2050Roadmap, global nuclear power capacity doubles by mid-century in a system dominated by renewables

To fulfil this role, nuclear's costs in advanced economies must come down by 40% and world nuclear investment triple by 2030

More ➡️ iea.li/3a6v7bl
As things stand, advanced economies have lost their market leadership in nuclear power

Of the 31 nuclear reactors that started construction since 2017, all but 4 are Russian or Chinese designs
Reaching net zero emissions with less nuclear power than envisioned in the @IEA pathway would be harder and cost consumers $20 billion more a year to 2050

At the same time, deep nuclear cost reductions can open new opportunities to produce electricity, heat & hydrogen
Increased efforts to meet the world’s climate challenge have stimulated a burst of activity in small modular reactors (SMRs)

The lower costs, smaller size & reduced project risks of SMRs may improve social acceptance & attract more private investment versus large nuclear plants
To learn more about @IEA’s new report on Nuclear Power and Secure Energy Transitions, join our Director of Energy Markets & Security Keisuke Sadamori & me for our live launch event at 10:30 CEST ➡️ iea.li/3y25oc8

And explore the full report ➡️ iea.li/3ywoMzt

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More from @fbirol

Jun 20
Africa Energy Outlook is out!

Today 600 million Africans have no access to electricity & nearly 1 billion no access to clean cooking. Solving this requires $25 billion per year from now to 2030 – the same as building one new LNG terminal a year

More: iea.li/3mZkeea
Electricity is the backbone of Africa’s new energy systems, with scope for 80% of new capacity additions to come from renewables, notably solar

Africa is home to 60% of the best solar resources globally but it has only 1% of solar PV capacity today

More: iea.li/3HJEs5m
Africa’s energy needs are increasing fast, notably in industry

Natural gas may well be needed through 2030 to desalinate water, make fertiliser for food, and steel & cement for construction

But competitive renewables mean gas' share of modern energy doesn't rise in our scenario
Read 9 tweets
Dec 1, 2021
The world is set to add more renewable power capacity in 2021 than ever before

The record-breaking additions of 290 GW of solar, wind & other renewables are yet another sign that A New Global Energy Economy is emerging

Find out more in @IEA's new report: iea.li/3o7lltG
We expect renewables to account for almost 95% of the growth in global power capacity through 2026, with solar PV alone providing more than half

This is driven by stronger support from policies & more ambitious pledges made going into #COP26

Read more: iea.li/3E4wy3L
India is set for the fastest rate of renewable capacity growth among major economies in the next 5 years, doubling additions versus 2015-2020

This supports 🇮🇳’s new goal of 500 GW of renewable capacity by 2030 & highlights its potential to accelerate its clean energy transition
Read 7 tweets
Oct 13, 2021
#WEO2021 is out!

Before a crucial #COP26, it shows that while climate ambitions have never been higher, energy transitions have a long way to go

Governments must give the signal that they will drive a wave of investment in a #NetZero future

Our report: iea.li/3iXLxnx
The encouraging news is that a New Energy Economy Is Emerging

#WEO2021 shows that pursuing #NetZero can create a market opportunity for equipment like batteries & wind turbines worth over $1 trillion a year by 2050 – similar to today's oil market

More: iea.li/3oVAVJR
If governments fully deliver on the climate pledges they have announced so far, it would limit global warming to 2.1 C.

Not enough to solve the climate crisis, but enough to change energy markets, including oil – which would peak by 2025 – and solar & wind, whose output soars.
Read 9 tweets
Jul 20, 2021
We just launched @IEA’s new Sustainable Recovery Tracker to measure how governments’ responses to the Covid-19 crisis are affecting clean energy investment & CO2 emissions.

It shows that only 2% of fiscal support goes to clean energy transitions ➡️ iea.li/2UYzbm9
The amount of total clean energy investment mobilised by governments' recovery measures to date falls far short of what is needed to put global CO2 emissions on a path to reach net zero by 2050.

CO2 emissions are set to rise to an all-time high in 2023 👉 iea.li/3eCajHA
Our new Tracker monitors government spending & the clean energy investment it mobilises on 30+ measures in our Sustainable Recovery Report, covering 800 recovery policies in over 50 countries.

Explore them online today ⬇️ iea.li/3kOwWNd
Read 5 tweets
Jun 9, 2021
Our major new report reveals a critical fault line in global efforts to reach climate goals.

In many emerging & developing economies, emissions are rising while clean energy investments are faltering. Money is not going where it’s most needed.

Read more: iea.li/2TTHPSk
Today, emerging & developing economies account for two-thirds of the world's population, but only one-fifth of global investment in clean energy.

Our new report shows that this investment needs to grow more than 7 times by 2030 to over $1 trillion a year to meet net zero goals.
One of our key recommendations: Governments need to give international public finance institutions a strong mandate to finance clean energy in the developing world.

There is no shortage of funds globally, but we need huge efforts to channel them where they can make a difference.
Read 7 tweets
Jun 2, 2021
Our new report shows global energy investment is set to rebound nearly 10% in 2021 to $1.9 trillion, reversing most of last year's drop

But the amount going to clean energy technologies is not nearly enough to put us on a path to net zero by 2050

More ➡️ iea.li/3i6Qz1v
Renewables are dominating investment in new electricity generation & are expected to account for 70% of the global total this year.

However, far more is needed – our #NetZero2050Roadmap calls for investment in clean energy to triple by 2030.

Read more 👉 iea.li/3pcGiCf
Spending by some global oil & gas companies appears to be starting to diversify.

@IEA analysis last year showed only around 1% of the industry's investment went to clean energy. Recent trends suggest this may rise to 4% in 2021 – and well above 10% for some European companies.
Read 5 tweets

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