America once led the charge in nuclear energy, but the superpower has fallen behind in the twenty-first century. Under this administration, America has the chance to reclaim former successes.
At the dawn of the nuclear age, American scientists unlocked the power of the atom, first to end World War II, then to create an arsenal and fuel the ships that deter the adversaries of the United States, and finally to launch an energy industry that produced the largest fleet of commercial reactors in the world.
For years, American companies dominated international reactor deals and nuclear fuel services. However, through missteps and misfortunes, the United States ceded its favored position in global nuclear markets to state-owned enterprises in other nations. Facing ambitious foreign competitors and a rapidly shifting energy sector, the United States has a rare opportunity to restore its global leadership or risk falling irreversibly behind in this strategically critical industry.
Current Status of American Nuclear Energy
After years of relative stability, electricity demand in the United States is surging, primarily driven by the AI revolution and hyperscalers’ need to power massive data centers. With unmatched power density, nuclear energy offers twenty-four-hour baseload power, regardless of the weather, season, or time, an ideal solution to meet that demand reliably and at scale.
Renewables, batteries, and natural gas plants can meet some, but not all, of the needs that must be met if America is to prevail in the global race to deploy artificial intelligence and the data centers to support it.
Other nations are also looking increasingly to nuclear energy solutions, as reflected in the commitments of more than thirty governments to triple their installed nuclear capacities by 2050.
American companies have fallen behind in competing for these nuclear projects. At the same time, Russia has inked $200 billion worth of reactor deals with countries including China, India, Turkey, Egypt, and Bangladesh. South Korea scored significant reactor deals in the United Arab Emirates and the Czech Republic. After finishing four units in China five years ago, the American reactor order book fell to zero.
However, American vendors are on the hunt in Poland and other promising new markets.
Much of the problem stems from other governments treating major reactor deals as cornerstones of century-long strategic relationships. They engage their political leadership and export credit resources to win valuable contracts that become key to more profound and broader commercial and security ties.
The United States has failed to keep selling reactors and the strategically critical provision of enriched uranium to fuel them for various reasons. It has ceded that market to four state-owned enterprises from Russia, China, and Europe.
How Nuclear Energy in America Can Bounce Back
The United States can now seize the opportunity to revitalize its global leadership.
Investing in American nuclear energy has enjoyed broad bipartisan support on both sides of Capitol Hill and both ends of Pennsylvania Avenue. The completion of two new 1000 MWe nuclear power plants in Georgia in the last two years signaled that America is building again. A new generation of smaller advanced reactors now under development by American companies offers scalable, flexible solutions for diverse energy needs, including those of data centers and industrial processes.
Also, for the first time in seventy years, a U.S.-owned uranium enrichment facility began producing the new fuel forms needed by many advanced reactors now under development; domestic enrichment is also necessary to replace imports from Russia, which Congress legislated must end by 2028.
Converting this opportunity and its early gains into lasting achievement will require decisive action and strategic investments. Government and industry must work together to move from pushing paper to bending metal, forging global partnerships, competing against state-owned enterprises, and modernizing nuclear regulation.
In a recent report, the Commission on Nuclear Energy and American Leadership, a bipartisan group of national security and industry professionals, identified how government and industry can get the job done.
Practical, near-term steps include providing cost-overrun insurance for first movers to encourage the construction of advanced reactors, re-establishing a domestic uranium enrichment capability using American technology, pursuing peaceful nuclear cooperation agreements with energy-dependant nations around the world, and leveling the playing field in international markets vis-a-vis foreign state-backed competitors through robust funding for the U.S. Export-Import Bank and the Development Finance Corporation.
America Looking Forward
Much can be achieved in the next few months. American global influence, nonproliferation objectives, and energy security can all be strengthened while generating American jobs and supporting economic competitiveness.
President Franklin D. Roosevelt seized the first 100 days of his administration to shift gears in a nation reeling from the Depression and chart the path to recovery. This administration’s first 100 days present a unique opportunity to reclaim American leadership in nuclear energy, bringing benefits at home and abroad for generations to come.
About the Authors: Daniel Poneman and Sherri Goodman
Daniel Poneman is Co-Chair of theCommission on Nuclear Energy and American Leadership. He previously served as US Deputy Secretary of Energy and President and Chief Executive Officer of Centrus Energy Corp.
Sherri Goodman is Co-Chair of theCommission on Nuclear Energy and American Leadership. She is the former US Deputy Undersecretary of Defense (Environmental Security) and author of Threat Multiplier: Climate, Military Leadership and the Fight for Global Security.
Image Credit: Shutterstock/ Mihai Andritoiu.