China's leaders have poured money into wind and solar energy as they wean their country off imported oil and gas and hope to phase out dirty coal-fired power stations. But they are also turning to one of the most sustainable forms of non-renewable energy. Over the past decade, China has added 37 nuclear reactors, bringing the total to 55, according to the International Atomic Energy Agency. During the same period, the United States, which has 93 nuclear reactors, added just two.
In the face of growing energy demand, China has not relaxed. China's goal is to install six to eight nuclear reactors per year, and while some officials appear to think this target is too low, China's nuclear regulator has said that China has the ability to add eight to 10 nuclear reactors per year, and China's State Council approved the construction of 10 nuclear reactors in 2022.
Currently, China has 22 nuclear reactors under construction, far more than any other country. There are many reasons for the stagnation of nuclear power development in Western countries. Reactors require significant upfront investment and take years to build, and the industry is heavily regulated, creating considerable headwinds.
In contrast, China has paved the way for the development of nuclear power by providing cheap loans as well as land and licenses to state-owned energy companies. Nuclear energy suppliers also receive subsidies called feed-in tariffs. All this has brought nuclear power prices down to around $70 per megawatt-hour in China, compared with $105 in the United States and $160 in the European Union, according to the International Energy Agency, the official forecaster.
Like the Western world, China is not immune to the concerns many have about the safety of nuclear power. After the Fukushima Daiichi nuclear power plant disaster in Japan in 2011, China temporarily shelved its nuclear power construction plans. China has banned the construction of inland nuclear power plants because they must use river water for cooling instead of more readily available seawater. Earlier this year, China reacted angrily when Japan began releasing treated, completely harmless wastewater from the Fukushima nuclear power plant into the ocean.