Decarbonising the EU Power Sector: a Technological and Socio-economic Analysis and the Role of Nuclear

TL;DR

This paper analyzes the role of nuclear energy in decarbonizing the EU power sector, considering technological, socio-economic factors, and policy implications to meet climate targets by 2030 and 2050.

Contribution

It provides a novel meta-analysis comparing historical data and modeling scenarios, emphasizing nuclear energy's potential and socio-economic impacts in EU decarbonization strategies.

Findings

Nuclear energy could significantly aid EU decarbonization efforts.

Limited public support for nuclear may hinder achieving climate targets.

Policy measures are needed to address socio-economic implications.

Abstract

Low-carbon electricity is a key enabler in combating climate change. Decarbonising the power sector is now at the centre of global and European policies. As the IPCC highlights, pathways where the power sector rapidly decarbonises by 2030 have higher chances of keeping global warming below 1.5$^\circ$C. The electricity sector should be fully decarbonised by 2050 to meet either the 1.5$^\circ$C or 2$^\circ$C targets. This means that EU policy efforts should focus on supporting a maximum reduction of emissions per unit of electricity by 2030 and net-zero emissions by 2050. Reaching these targets is one of the most pressing questions EU policymakers face today. In light of the COVID-19 crisis, EU policies should guide a cost-effective, reliable and environmentally sound transition of the power sector, benefiting EU research and innovation and its citizens. This meta-analysis provides a novel view on historical data and compares data from modelling scenarios identified in the literature. It assesses the current and future role of nuclear energy in decarbonizing the EU power sector, while reviewing socio-economic implications that could arise if limited public support nearly excludes nuclear fission electricity from the future EU power mix. This work highlights relevant socio-economic policy implications and actionable policy recommendations.