Energy
Trends and Advances in Renewable Energy
Trends and Advances in Renewable Energy
When it comes to renewable energy, something has got to give.
Green energy has a somewhat dated reputation for not being feasible from an economic perspective. However, it seems with green tech that the inputs slowly, yet incrementally, get better. Every additional percent of efficiency and each reduction in costs takes us a small step further towards a greener future.
As the infographic shows, there are many interesting developments in the green sector that are piquing the interest of investors. Advancements in organic solar cells, energy storage, concentrated solar energy, and wind turbine materials are just some of those worth noting.
The sector is all about cost and more specifically, capital costs. Although much of the time the fuel is free, the short to medium term investment case continues to be the biggest hurdle with payback periods being far too long. People watching the renewable sector are still waiting for one of these game changing technologies to be commercialized to make the investment case that much more certain.
Original graphic from: NJIT
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How Much Does the U.S. Depend on Russian Uranium?
Currently, Russia is the largest foreign supplier of nuclear power fuel to the U.S.
How Much Does the U.S. Depend on Russian Uranium?
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The U.S. House of Representatives recently passed a ban on imports of Russian uranium. The bill must pass the Senate before becoming law.
In this graphic, we visualize how much the U.S. relies on Russian uranium, based on data from the United States Energy Information Administration (EIA).
U.S. Suppliers of Enriched Uranium
After Russia invaded Ukraine, the U.S. imposed sanctions on Russian-produced oil and gas—yet Russian-enriched uranium is still being imported.
Currently, Russia is the largest foreign supplier of nuclear power fuel to the United States. In 2022, Russia supplied almost a quarter of the enriched uranium used to fuel America’s fleet of more than 90 commercial reactors.
Country of enrichment service | SWU | % |
---|---|---|
🇺🇸 United States | 3,876 | 27.34% |
🇷🇺 Russia | 3,409 | 24.04% |
🇩🇪 Germany | 1,763 | 12.40% |
🇬🇧 United Kingdom | 1,593 | 11.23% |
🇳🇱 Netherlands | 1,303 | 9.20% |
Other | 2,232 | 15.79% |
Total | 14,176 | 100% |
SWU stands for “Separative Work Unit” in the uranium industry. It is a measure of the amount of work required to separate isotopes of uranium during the enrichment process. Source: U.S. Energy Information Administration
Most of the remaining uranium is imported from European countries, while another portion is produced by a British-Dutch-German consortium operating in the United States called Urenco.
Similarly, nearly a dozen countries around the world depend on Russia for more than half of their enriched uranium—and many of them are NATO-allied members and allies of Ukraine.
In 2023 alone, the U.S. nuclear industry paid over $800 million to Russia’s state-owned nuclear energy corporation, Rosatom, and its fuel subsidiaries.
It is important to note that 19% of electricity in the U.S. is powered by nuclear plants.
The dependency on Russian fuels dates back to the 1990s when the United States turned away from its own enrichment capabilities in favor of using down-blended stocks of Soviet-era weapons-grade uranium.
As part of the new uranium-ban bill, the Biden administration plans to allocate $2.2 billion for the expansion of uranium enrichment facilities in the United States.
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