The typical perception of people about nuclear energy is nuclear weapons. That’s the first thing that stirs in their mind whenever the term “nuclear” is mentioned. Well, that’s completely understandable, but it is essential to note that nuclear power has both commercial and civilian importance. Today, nuclear power accounts for about 11% of the total world’s power production. Its growth is promising and there are many people already considering nuclear energy investment. In fact, a rise in the cost of fossil fuels will dramatically trigger the rise of nuclear power.
Investing in Uranium
For budding and seasoned investors, one of the best way to benefit from the steady growth of nuclear power is to invest in uranium. This mineral is the main component in nuclear energy production. Typically, one kilogram of uranium yields 20,000 as much energy as the same amount of coal. This area is still partially covered but it has already shown coherent signs of great potential.
Think of the Opportunities
When considering investing in nuclear companies, such as those engaged in the mining and production of uranium, you need to think creatively and explore other untapped opportunities. The demand for uranium is exponential, and you can take that as an opportunity to maximize your investments. Between 2000 to 2008, the price of uranium rose from $20 per pound to almost $140, but dropped back to about $50 after 2008.
Nuclear Power Plants are Growing
Every year, there are new power plants and reactors that are constructed and developed in countries such as Canada, China, France, UK, Germany and the US. This means that the demand for uranium is expected to grow, and the mining companies have to constantly ensure their reserves are well stocked. With different nuclear energy stocks and publicly traded nuclear companies already listed on stock listings, it is easier to stay current on the prevailing rates and prices.
Investing in energy is one of the profitable opportunities out there because the demand for energy is constantly going up. Nuclear power is seen as the future energy because it is cheap to produce. The only problem is that it takes a longer time to build new power plants and for new reactors to the approved for use. Utility companies are also getting into the nuclear industry to boost their current power production. So, considering nuclear energy investment now is a wise move for the discriminating investor.