Commercial nuclear fusion is a promising energy source that has the potential to revolutionize the way we produce power. Nuclear fusion has been the subject of scientific research for decades, and significant progress has been made in understanding both the physics and engineering aspects of fusion reactors (Osaka 2022). However, the development of commercial nuclear fusion is still in its early stages. Despite the challenges that face the creation of nuclear fusion, the global fusion energy community is making steady progress toward the goal of commercial viability (Forbes 2022). In recent years, the urgency to find alternative sustainable energy sources has increased significantly due to the growing concern about global warming and the depletion of fossil fuels. Nuclear fusion is a practically limitless energy source that can simultaneously combat climate change and aid economic and technological development. While there is much research to be done before Nuclear fusion can be implemented commercially, the significance of this technology is not emphasized enough. 

The primary environmental concern with our finite energy sources is the emission of greenhouse gasses that cause global warming and climate change. In contrast to finite fuels, nuclear fusion produces no greenhouse gas emissions, and the types of fuel used for fusion, deuterium and tritium, can be obtained in abundance from seawater (World Nuclear Association 2022). Nuclear fusion produces energy through a reaction between isotopes of hydrogen, where the only by-product is helium–an environmentally safe and non-toxic gas. This means that fusion power plants would not contribute to climate change and would help reduce greenhouse gas emissions in the atmosphere (World Nuclear Association 2022). While the environmental benefits of nuclear fusion are indisputable, the technology has a long way to go before it can be implemented on a commercial scale.

One of the main challenges in realizing the potential of fusion as a source of energy is to achieve a net energy gain from the reaction (Osaka 2022). In other words, to create a reaction in which the amount of energy produced through the fusion reaction is greater than the amount of energy required to initiate and sustain the reaction.

This past December, the National Ignition Facility (NIF), a large-scale laser-based fusion research facility located at the Lawrence Livermore National Laboratory in California, used a series of high-power lasers to heat and compress a small target containing a mixture of deuterium and tritium to achieve a net energy gain through nuclear fusion (Osaka 2022).

This breakthrough has brought nuclear fusion an influx of much-deserved attention. While it will still take much time, 3 to 4 decades based on the current rate of development, and investment to develop and implement nuclear fusion, the full potential of this energy source will finally be realized (Osaka 2022). The NIF’s significant step forward will undoubtedly lead to increased investment and potentially a faster timeline to the completion of a viable source of nuclear fusion.

Investing in nuclear fusion technology is important not only for environmental reasons but also for economic reasons. The development of fusion technology would create new jobs, boost the economy, and provide a new source of energy that would be clean and almost limitless. Furthermore, if developed in the U.S. fusion technology has the potential to be exported to other countries, reducing the amount by which the U.S. cost of a country's imports exceeds the value of its exports. The business world has taken notice of the immense financial opportunities offered by the implementation of nuclear fusion, with 30 private companies investing heavily in the technology over the past 13 months (Forbes 2022).

As reported by the Fusion Industry Association, the private sector fusion industry has received almost $5 billion in funding from various sources, including venture capital. Notable recent funding rounds include a significant raise of $1.8 billion secured by Commonwealth Fusion Systems. This funding was provided by high-profile investors such as Bill Gates, John Doerr, Marc Benioff, and Google. Helion, another private fusion company, also announced a fundraising round of $500 million, with Silicon Valley insider Sam Altman leading the investment. If Helion reaches its fundraising goals, it is expected to secure an additional $1.7 billion. Moreover, investment in nuclear fusion has not been limited to the private sector.

The US government has been funding fusion research with federal money since the 1950s and currently allocates around $700 million per year to its development. However, the majority of this funding has been directed towards national laboratories and universities. (Clifford 2022).

In a significant move that underscores the growing interest in nuclear fusion, the US government is allocating a substantial sum of money to support private sector nuclear fusion companies for the first time. During the Global Clean Energy Action Forum held in Pittsburgh in September 2022, the Department of Energy made an official announcement pledging $50 million to support various private fusion companies (Clifford 2022). While government investment in private fusion companies has been set to $50 million for the next 18 months, Congress has authorized up to $415 million for future budgets. 

Regardless of the evident business interest in fusion technology, a prejudice against nuclear energy still exists for some. Given the historical implications attached to nuclear energy, the safety of nuclear fusion is an important consideration. The technology of nuclear fusion fundamentally differs from that of nuclear fission, which is currently used in nuclear power plants across the world, and was responsible for the Chernobyl and Fukushima catastrophes. In fission, a heavy nucleus is split into lighter ones, releasing energy, producing highly radioactive, and posing a risk to public health and the environment. In contrast, nuclear fusion reactions occur when atomic nuclei are combined (fused) to form a heavier nucleus, releasing energy in the process (Office of Nuclear Energy 2021). In the unlikely event of an accident at a nuclear fusion power plant, the fuel would rapidly cool, and the reaction would stop. This means that the risk of a meltdown or release of radioactive material is much lower in a fusion power plant than in a fission power plant (Willis 2022). With a basic understanding of the science behind nuclear fusion any fear of the technology should dissipate.  

The impacts of climate change are being felt around the world, with rising sea levels, increased frequency and severity of extreme weather events such as hurricanes, droughts, and wildfires, and changes to ecosystems and natural habitats. Thus the importance of finding and utilizing alternative, sustainable energy sources such as nuclear fusion, has never been greater. While achieving sustainable fusion reactions has proven to be a significant challenge due to the extreme conditions required to initiate and maintain a fusion reaction, the global fusion energy community is making steady progress toward the goal of commercial viability, and hopefully the technology will be implemented soon enough to combat the rapidly changing climate. 

References

Clifford, Catherine. 2022. “Feds commit $50 million to for-profit nuclear fusion companies, chasing the ‘holy grail’ of clean energy.” CNBC, 26 September, 2022. https://www.cnbc.com/2022/09/26/feds-commit-50-million-to-for-profit-nuclear-fusion-companies.html

“Fusion Energy Stocks: How To Invest In Fusion Energy.” Forbes, 20 December, 2022. https://www.forbes.com/sites/qai/2022/12/20/fusion-energy-stocks-how-to-invest-in-fusion-energy/?sh=a2cf73929a62

Office of Nuclear Energy. 2021. “Fission and Fusion: What is the Difference?” Energy.gov, 1 April, 2021. https://www.energy.gov/ne/articles/fission-and-fusion-what-difference

Osaka, Shannon. 2022.  “What you need to know about the U.S. fusion energy breakthrough.” Washington Post, 13 December, 2022. https://www.washingtonpost.com/climate-solutions/2022/12/12/nuclear-fusion-breakthrough-benefits/

Willis, Carley, and Joanne Liou. 2021. “Safety in Fusion.” International Atomic Energy Agency, May, 2021. https://www.iaea.org/bulletin/safety-in-fusion  

World Nuclear Association. 2022. “Nuclear Fusion Power.” Last modified December, 2022. https://world-nuclear.org/information-library/current-and-future-generation/nuclear-fusion-power.aspx