India’s energy consumption has been growing due to the reported higher GDP growth since 1990s. Energy consumption has increased by 10.45% in 2011-12, much faster than the GDP growth of 6.2%. In fact, the energy consumption has been growing faster than the economy for the last three decades.

Simultaneously, nuclear power industry is going through a high growth phase in the country. One of the key drivers of this growth story is government’s initiatives in increasing the share of nuclear power in its energy mix and India. India aims to have 14,600 MW nuclear capacity by 2020. It also aims to supply 25% of electricity from nuclear power by 2050. Currently fossil fuels account for majority of the power generated in India. Another factor in favour of the nuclear power is that the Indian Government aims to reduce the share of fossil fuel in the overall energy mix.

As of now, the nuclear power accounts for just 3% of the total power generated in the country. While renewable energy sources also aim to increase the share in the overall energy mix, nuclear power is also high on the priorities of the Indian Government. In the future, international cooperation will be key to India’s nuclear power industry as it needs to depend on foreign countries for fuel and technology in order to scale up the investments.

 

A few Challenges to Overcome

 

One of the hurdles faced by India in nuclear power sector is the limited reserves of uranium. India is working out strategies to get more supply of fuel from countries such Australia. Nuclear Non Proliferation Treaty (NPT), Civil Liability for Nuclear Damage Act and protests from the general public are some other hurdles.

Waste disposal and radiation issues are a few drawbacks often associated with the usage of nuclear power. However, in countries with nuclear power, radioactive wastes comprise less than 1% of total industrial toxic wastes. Nuclear wastes are a significant part of the nuclear power picture, and need to be managed and disposed of properly. Further, according to World Nuclear Association (WNA), in more than 50 years of civil nuclear power experience they have not caused any serious health or environmental problems, nor posed any real risks to people. Hence, nuclear waste need not be a reason to go against the nuclear power.

Nuclear power is a safe means of generating electricity since we have the history of using nuclear power safely for the last 60 years except a few incidents reports. The risk of accidents in nuclear power plants is low and declining according to market reports. WNA’s occupational accident statistics over the last 40 years of nuclear reactor operations in the US and UK shows that nuclear power is safer than other energy.sources. High safety standards and technologies are essential to further reduce risks of accidents.

This Blog is written by Akansha, Sr.Research Analyst. You can reach her akansha@dartconsulting.co.in