Guidehouse Insights Explores Barriers to Commercializing Nuclear Fusion

While nuclear fusion can push the energy transition to a net-zero world, tremendous efforts are needed to make nuclear fusion commercially viable 

BOULDER, Colo., July 13, 2023 /PRNewswire/ -- Mitigating climate change's environmental impact, a primary international concern, has renewed interest in nuclear fusion. A new report from Guidehouse Insights reviews the significance of nuclear fusion in tackling the growing demand for green energy.

The World Meteorological Organization currently predicts that global temperatures will increase by 3° C to 5° C by the end of the 21st century. This projection suggests that current efforts may not be enough to achieve either a 2.0-degree global climate target, or the more ambitious 1.5-degree goal. According to Guidehouse Insights, nuclear fusion possesses higher energy density than fission and offers varied technological approaches. However, despite nuclear fusion's benefits, serious technical, investment, and regulatory concerns must be addressed.

"Enormous global effort is going into making the technology a reality, but it is still not yet economically feasible and has not been commercialized. Even if the promising International Thermonuclear Experimental Reactor (ITER) project is successful, the technology is not assured of being economically competitive," says, Rohith Unni, research analyst with Guidehouse Insights. "For nuclear fusion to be competitive, it must reach grid parity, which only happens when its LCOE is equal to or below the price of power on the grid."

Although it has immense decarbonization potential, the technology has thus far been confined to the laboratory. In a major breakthrough in the US, in 2022, fusion experiments at the U.S. National Ignition Facility (NIF) released more energy than that utilized to conduct the experiment, a net energy gain, another signal that commercializing the technology is possible, according to the report.

The report, Significant Barriers Remain to Commercializing Nuclear Fusion, reviews the significance of nuclear fusion in tackling the growing demand for green energy. It explains the differences between nuclear fission and fusion and looks at various technology approaches, recent breakthroughs in the fusion industry, and its persistent lack of traction, despite decades of effort. The study also examines the industry's financial support from private and public funding, its major challenges, and offers key recommendations for stakeholders. An executive summary of the report is available for free download on the Guidehouse Insights website.

About Guidehouse Insights
Guidehouse Insights, the dedicated market intelligence arm of Guidehouse, provides research, data, and benchmarking services for today's rapidly changing and highly regulated industries. Our insights are built on in-depth analysis of global clean technology markets. The team's research methodology combines supply-side industry analysis, end-user primary research, and demand assessment, paired with a deep examination of technology trends, to provide a comprehensive view of emerging resilient infrastructure systems. Additional information about Guidehouse Insights can be found at www.guidehouseinsights.com.

About Guidehouse
Guidehouse is a leading global provider of consulting services to the public sector and commercial markets, with broad capabilities in management, technology, and risk consulting. By combining our public and private sector expertise, we help clients address their most complex challenges and navigate significant regulatory pressures focusing on transformational change, business resiliency, and technology-driven innovation. Across a range of advisory, consulting, outsourcing, and digital services, we create scalable, innovative solutions that help our clients outwit complexity and position them for future growth and success. The company has over 16,500 professionals in over 55 locations globally. Guidehouse is a Veritas Capital portfolio company, led by seasoned professionals with proven and diverse expertise in traditional and emerging technologies, markets, and agenda-setting issues driving national and global economies. For more information, please visit www.guidehouse.com.

* The information contained in this press release concerning the report, Significant Barriers Remain to Commercializing Nuclear Fusion, is a summary and reflects the current expectations of Guidehouse Insights based on market data and trend analysis. Market predictions and expectations are inherently uncertain and actual results may differ materially from those contained in this press release or the report. Please refer to the full report for a complete understanding of the assumptions underlying the report's conclusions and the methodologies used to create the report. Neither Guidehouse Insights nor Guidehouse undertakes any obligation to update any of the information contained in this press release or the report.

For more information, contact:

Cecile Fradkin for Guidehouse Insights
+1.646.941.9139
[email protected]

SOURCE Guidehouse Insights