Nuclear power 'key' to 2050 targets - Report lists essential technologies to reduce emissions
Nuclear power is essential to meeting emissions targets set for 2050, according to a new report. GlobalData's Climate Tech analysis outlines five technologies that are currently not fully developed but will be essential to help reduce emissions in the long term. In addition to nuclear energy, agrotechnology, green buildings, carbon capture and storage and hydrogen will be crucial.
Agrotechnology is a term that encompasses technology used throughout the agriculture industry, including reducing emissions. The report notes methane inhibitors and alternative foods as important to this end in the long term, but notes that they are only in the early stages of development.
Similarly, while capturing emissions at source could have a significant impact, the technology is still at an early stage. The use of hydrogen also remains urgent, but will reduce emissions for industries less suitable for electrification in the long term.
While green building standards have been driving efficiency in their construction and operation for a long time, newer technologies such as heat pumps will drive further improvements.
Nuclear power is becoming more available through the use of small modular reactors. These have about one-third the generating capacity of traditional reactors, according to the International Atomic Energy Agency, but are more practical. With the way technology is advancing, GlobalData says the market is unlikely to scale in time to meet 2030 targets.
There are currently only three small modular reactors in use worldwide, but the report notes that there are 279 planned to be built. According to the report, China and India are building the largest nuclear power capacity. Like more traditional nuclear power plants, small reactors generate power by fission. However, nuclear fusion technology is making advances. It has the potential to generate significantly more energy than fission technology, while producing limited nuclear waste.
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