The nuclear electricity generation in the US has shown fluctuations from 2013 to 2023, with values ranging from 789.02 thousand Gigawatthours in 2013 to 822.29 thousand Gigawatthours in 2023. Notably, there has been a visible decline in 2020 due to various factors, but a recovery trend has been observed since 2021. The year-on-year growth showed significant recovery, highlighted by a 5.66% increase in 2022, followed by a slight rise of 0.37% in 2023. The Compound Annual Growth Rate (CAGR) averaged around 0.37% in the last five years leading up to 2023.
Looking forward, forecasted data anticipates continued moderate growth in nuclear electricity generation, with a forecasted five-year CAGR of 0.31%. By 2028, the value is expected to reach 835.51 thousand Gigawatthours, reflecting a forecasted five-year growth rate of 1.56%. This steady growth can be attributed to advancements in nuclear technology, improved regulatory frameworks, and increasing adoption of nuclear energy as a clean energy alternative.
Future trends to watch for include:
- Developments in small modular reactors (SMRs) which promise greater safety and economic efficiencies.
- Policy changes and government incentives aimed at boosting nuclear energy production as part of climate change mitigation strategies.
- Potential challenges from renewables and the impact of evolving energy mix dynamics.