Interactive: Tracking the Energy Titans
Comparing USA, China, and Canada in terms of energy
Today’s interactive infographic comes to us from the Wilson Center, a non-partisan think tank based in Washington, D.C. This in-depth series of charts and data extensively covers energy consumption, production, imports, and exports in three different countries: China, Canada and the United States. These energy titans all have significantly different economies, so the comparison becomes very interesting. China is the world’s engine and has over a billion people within its borders. The United States has the most advanced and diversified economy, but has about a third of the population. Canada is an advanced economy that is also a significant energy exporter, but it only has 10% of the population of the United States. The interactive infographic is split into five different tabs: production, imports, exports, consumption, and impact. Within each tab, there are options to look at data on different energy sources and types of consumption (industrial, residential, commercial). Lastly, the charts can also be displayed in terms of total numbers or per capita. The factoids come fast and furious on the right-hand section. Here’s a few we liked:
The domestic oil boom in the United States has cut the need to import oil products by 40 percent since 2007. China is the world’s factory and its industries use twice as much energy as U.S. manufacturers and over 15 times more energy than Canadian manufacturers. 82 percent of electricity in China comes from coal, pushing total consumption above the United States for the first time in 2011. But per capita consumption levels are far off when spread out over China’s 1.37 billion people. In aggregate, U.S. drivers use 16 times more energy in transportation than their Chinese counterparts. China leads the world in coal-fired power plants, one of the “thirstiest” methods of power generation. U.S. generation from coal has dropped precipitously since 2008, but coal and nuclear power plants still accounted for 37 percent of all water used in 2012.
There are some enlightening facts here, especially when looking at a “per capita” perspective. As China develops into a more sophisticated economy with a bigger middle class, the country’s already astounding numbers will grow even more. For commodity bulls, it is a reminder that there is still a lot of room left for growth on the demand side of the equation – it just may take longer than hoped.
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#1: High Reliability
Nuclear power plants run 24/7 and are the most reliable source of sustainable energy. Nuclear electricity generation remains steady around the clock throughout the day, week, and year. Meanwhile, daily solar generation peaks in the afternoon when electricity demand is usually lower, and wind generation depends on wind speeds.As the use of variable solar and wind power increases globally, nuclear offers a stable and reliable backbone for a clean electricity grid.
#2: Clean Electricity
Nuclear reactors use fission to generate electricity without any greenhouse gas (GHG) emissions.Consequently, nuclear power is the cleanest energy source on a lifecycle basis, measured in CO2-equivalent emissions per gigawatt-hour (GWh) of electricity produced by a power plant over its lifetime. The lifecycle emissions from a typical nuclear power plant are 273 times lower than coal and 163 times lower than natural gas. Furthermore, nuclear is relatively less resource-intensive, allowing for lower supply chain emissions than wind and solar plants.
#3: Stable Affordability
Although nuclear plants can be expensive to build, they are cost-competitive in the long run. Most nuclear plants have an initial lifetime of around 40 years, after which they can continue operating with approved lifetime extensions. Nuclear plants with lifetime extensions are the cheapest sources of electricity in the United States, and 88 of the country’s 92 reactors have received approvals for 20-year extensions. Additionally, according to the World Nuclear Association, nuclear plants are relatively less susceptible to fuel price volatility than natural gas plants, allowing for stable costs of electricity generation.
#4: Energy Efficiency
Nuclear’s high energy return on investment (EROI) exemplifies its exceptional efficiency. EROI measures how many units of energy are returned for every unit invested in building and running a power plant, over its lifetime. According to a 2018 study by Weissbach et al., nuclear’s EROI is 75 units, making it the most efficient energy source by some distance, with hydropower ranking second at 35 units.
#5: Sustainable Innovation
New, advanced reactor designs are bypassing many of the difficulties faced by traditional nuclear plants, making nuclear power more accessible.
Small Modular Reactors (SMRs) are much smaller than conventional reactors and are modular—meaning that their components can be transported and assembled in different locations. Microreactors are smaller than SMRs and are designed to provide electricity in remote and small market areas. They can also serve as backup power sources during emergencies.
These reactor designs offer several advantages, including lower initial capital costs, portability, and increased scalability.
A Nuclear-Powered Future
Nuclear power is making a remarkable comeback as countries work to achieve climate goals and ultimately, a state of energy utopia. Besides the 423 reactors in operation worldwide, another 56 reactors are under construction, and at least 69 more are planned for construction. Some nations, like Japan, have also reversed their attitudes toward nuclear power, embracing it as a clean and reliable energy source for the future. CanAlaska is a leading exploration company in the Athabasca Basin, the Earth’s richest uranium depository. Click here to learn more now. In part 3 of the Road to Energy Utopia series, we explore the unique properties of uranium, the fuel that powers nuclear reactors.
