The United States lags up to 15 years behind China in developing advanced nuclear power technology, due to Beijing’s state-sponsored technology initiatives and substantial financing, according to a report released on Monday.
China is currently constructing 27 nuclear reactors with an average construction period of approximately seven years, significantly quicker than other nations, according to a study by the Information Technology & Innovation Foundation, a Washington-based nonpartisan research institute.
“China’s rapid deployment of ever-more modern nuclear power plants over time produces significant scale economies and learning-by-doing effects, and this suggests that Chinese enterprises will gain an advantage at incremental innovation in this sector going forward,” the report said.
The U.S. maintains the largest fleet of nuclear power plants globally, and President Joe Biden’s administration views this nearly emissions-free energy source as crucial for combating climate change.
However, following the completion of two major plants in Georgia in 2023 and 2024, which were billions over budget and significantly delayed, no new U.S. nuclear reactors are currently under construction. Additionally, a high-tech plant planned at a U.S. lab was canceled last year.
China’s state-owned banks can provide loans with interest rates as low as 1.4%, much lower than those available in Western economies. The country’s nuclear power sector has flourished due to continuous state support and localization strategies, allowing China to lead in fields like renewable energy and electric vehicles.
Last December, the world’s first fourth-generation high-temperature gas-cooled reactor began operations at Shidao Bay. The China Nuclear Energy Association reported that the project utilized over 2,200 sets of “world-first equipment” with a domestic materials localization rate of 93.4%.