Fusion – the untapped energy source
Commercial fusion energy has the potential to provide the world with a clean, safe and secure source of power. When used widely, fusion energy power provides all the benefits as other renewable energy sources, and more. It can transform our global energy system, providing energy security, prevent energy shortages and accelerate the transition away from hydrocarbons.
Today, we have never been closer to successfully commercialising fusion. As technology advances, governments and investors are increasingly recognising fusion as a key, untapped energy source.
The ‘clean energy gap’
Global demand for energy is rising rapidly. As populations grow and the shift to electrification creates new demand for electricity generation, governments need to find ways to meet this demand, whilst meeting decarbonisation goals and mitigating the risk of climate change.
Conventional sources of renewable energy like wind and solar are an important part of this puzzle. However, capacity restrictions and challenges of supply intermittency mean they are not a comprehensive fix, even taking into account the fast-declining cost of batteries. Nuclear energy is another vital clean energy source, but comes with high-start-up costs and long lead times on new projects.
That’s where fusion comes in. Large scale fusion energy could be the solution the world needs to meet energy demand and meet decarbonisation goals faster. McKinsey research has shown that fusion could be the key to closing a 35,000 TWh "clean power gap" needed to reach net zero by 2050. Existing renewable sources of energy cannot get us there on their own.
Scaling Inertial Fusion Energy (IFE)
There are two dominant approaches to fusion energy – inertial fusion (IFE) and magnetic confinement fusion (MCF). At First Light, we are developing a scalable source of IFE. We believe this is the quickest route to commercial fusion. Although a nascent technology compared to MCF, progress in inertial fusion in the last decade has been rapid.
The physics of IFE have already been proven. In December 2022, scientists at the Lawrence Livermore National Laboratory in the US made history when they achieved net energy ‘gain’ for the first time with inertial fusion technology. This means the fusion reaction produced more energy than it consumed – a key milestone on the path to commercial fusion.
We know the physics of inertial fusion work. The next step is to accelerate the scaling up of that process, so it becomes a commercially viable solution to the global clean energy gap.
First Light Fusion’s unique amplifier technology is integral to building affordable and efficient IFE power plants. We have developed an amplifier which lessens the requirements on other aspects of a fusion power plant, ultimately bringing down the final cost of the electricity generated.
Race to 2050: Get set, go
To change the world for the next generation, we need to deal with climate change and tackle the ever-present threat to energy security. Fusion is the key underpinning element to achieving those aims and plugging the clean energy gap.
If the world is to achieve net zero by 2050, it is vital that both public and private investment and support coalesce around fusion and its transformative potential with the urgency that the clean energy conundrum requires. The future is fusion, and the time to act is now.