Lower Fossil Fuel Prices And Slow Economic Growth Could Hamper Nuclear, Report Warns

Posted by NucNet on 8 May 2015 in NucNet

Lower fossil fuel prices and slower economic growth in Southeast Asia will lead to a decline in global growth of nuclear and renewable energy sources, a report by energy company BP said.

BP’s Energy Outlook 2035 report tested the assumption that the economies of China and India grow at an average of four percent a year until 2035, compared to 5.5 percent in base-case projections, leading to a reduction in energy demand and decreased growth for nuclear and renewables.

The result of the assumption is a six percent reduction in global demand for nuclear compared to the base-case, and an 11 percent reduction in global demand for renewables.