The nuclear energy industry had enjoyed a broad resurgence in recent years as energy-hungry but resource-poor Asian nations sought to power rapid economic growth. European and North American countries, meanwhile, set plans for new reactors as part of an effort to replace aging power plants while reducing greenhouse gas emissions.
Nuclear energy is viewed by many as a clean source of energy, or at least cleaner than gas, oil or coal powered power facilities, even if it has its own issues. However, the Japanese crisis imperils that renaissance and the companies positioned to profit from it.
Governments around the globe such as, China, Germany, United States, Canada and others have either delayed new building plans, closed old plants or will likely insist on ever more safety requirements, which means driving up costs.
Most likely that nuclear energy won’t be smothered, since alternatives are problematic, but recent events in Japan sure give the clean energy industry a boost.
There are some risks which, when they strike, are recognizable as “game-changers.” The magnitude of the impact is clearly high and may ultimately have dramatic consequences for industry participants.
The event can lead to industry changes in all of the following:
• Long Term Demand
• Regulatory Changes
• Competitive and emerging new technologies may gain new prominence
Staying on top of and helping to guide these evolutionary forces can be the key to a long term viable industry. Larger and influential players must step up at times like these.