Small Modular Reactors to Achieve SDG 7 and Net Zero Emissions

Decarbonisation of the electricity sector is critical to achieving global net zero, since the contribution of electricity to final energy consumption is expected to increase by 80-150 percent of the current level by 2050. The recent uptick in coal consumption in Europe despite the increase in solar and wind power indicates the criticality of firm low- carbon electricity resources for the deep decarbonisation of power generation along with grid stability and energy security. Rapid expansion of nuclear energy is critical since hydroelectric sources are limited by topography, besides social and environmental issues. Less nuclear power would make the journey to net zero more challenging and expensive. Several G20 countries are developing small modular reactors (SMRs) to supplement conventional nuclear power plants since SMRs can be installed in decommissioned thermal power plant sites by repurposing the site infrastructure. Leaders in SMR technologies must enable other G20 countries to accelerate SMR deployment at competitive costs.