Nuclear Renaissance

Since about 2001 the term nuclear renaissance has been used to refer to a possible nuclear power industry revival, driven by rising fossil fuel prices and new concerns about meeting greenhouse gas emission limits.

In the 2009 World Energy Outlook, the International Energy Agency stated that:

A nuclear renaissance is possible but cannot occur overnight. Nuclear projects face significant hurdles, including extended construction periods and related risks, long licensing processes and manpower shortages, plus long‐standing issues related to waste disposal, proliferation and local opposition. The financing of new nuclear power plants, especially in liberalized markets, has always been difficult and the financial crisis seems almost certain to have made it even more so. The huge capital requirements, combined with risks of cost overruns and regulatory uncertainties, make investors and lenders very cautious, even when demand growth is robust.