Nuclear: 5 things to look for in 2026

2025 was, in many ways, a year of upheaval – from political turnovers and trade tariffs to energy tensions and the continued rise of artificial intelligence. Nuclear came out relatively unscathed as a clean energy supply source, benefiting from public policies and private capital. While many governments deprioritised climate action and energy transition, many restrictions to build new nuclear were eased and extensions granted to several existing reactors, boosting its role in power generation after decades of sluggish capacity growth. 

It's not all plain sailing. Challenges remain around nuclear fuel availability, long lead times for new builds and deployment of waste disposal solutions, all of which could temper the pace of expansion. 

So, can the nuclear industry gather momentum in 2026? What are the opportunities and obstacles to watch in the year ahead? Drawing on unique insight from our Energy Transition Service, we share our view in Nuclear: 5 things to look for in 2026. Fill in the form for your complimentary copy, and read on for a quick introduction to a few of the key themes.  

Conventional nuclear: AI will drive more lifetime expansion and plant restarts 

Our base case forecasts 21% power demand growth expected between now and 2030, largely driven by AI-fuelled data centre deployment. Meeting this demand is a major challenge that will – and restarting retired nuclear capacity could be part of the solution.   

Despite a record 62 reactors under construction globally, the prohibitively long timelines for large-scale reactor builds cannot address near-term demand. Vogtle Unit 3, which came online in the US state of Georgia in 2023, took 14 years from groundbreaking to commercial operation. Restarts cost a fraction of new construction and can be completed in months rather than years. Existing facilities already have grid connections and permits, avoiding regulatory delays. 

How much capacity could be brought out of retirement? Where would the restarts be located? Read the full report to find out more.  

Small modular reactors (SMRs): move past announcements into concrete FID 

In 2026, we expect more projects to progress toward construction through concrete milestones such as licensing applications, final investment decisions (FIDs) or power purchase agreement (PPAs). Our pipeline shows four projects with milestones expected in 2026, and a potential 6.7 GW of capacity advancing towards FID within the next few years.  

What are the projects to watch in 2026? How large is the investment opportunity? Fill in the form to read the full report to learn more.  

Policy support: licensing reform in the US will address critical hurdles for new projects 

EU member states reversed policy restrictions in 2025 to pave the way for 81.2 GW of nuclear power capacity by 2040. Belgium reversed its nuclear phase-out plans, Italy lifted its ban and Germany recognised nuclear as a green energy source in EU legislation. Switzerland and Denmark are actively reconsidering their anti-nuclear positions. 

In the same vein, the US maintained policy incentives to nuclear, despite the lukewarm approach to renewables under 2025’s One Big Beautiful Bill Act. President Donald Trump also signed four executive orders to strengthen US nuclear energy leadership and called for the construction of 10 new reactors and a reform of the Nuclear Regulatory Commission (NRC) to accelerate deployment timelines. 

Licensing reform that supports new generation reactors will be key to the future of nuclear. How will that take shape in 2026? Can licensing bottlenecks be overcome? Read the full report to learn more.  

Also in Nuclear: 5 things to look for in 2026… 

The widening supply gap will increase investment in enrichment capacity – but can it match demand? And investment in nuclear fusion has drawn significant attention from both public and private sectors since 2022, fuelled by multiple scientific advancements – how much will that progress in 2026, and who’s leading the charge?  

Read our view in the full report. Fill in the form at the top of the page to download your complimentary copy.