The war in Ukraine has accelerated the transition to alternative sources of energy, particularly in view of skyrocketing natural gas prices. Nuclear power is back in prominence, as governments try to tackle climate change and reduce dependence on Russian fossil fuels.

Uranium, used mainly in nuclear power plants, is one of the cleanest ways to produce electricity. However, nuclear energy currently accounts for just 10% of the world’s electricity production.

Many Western countries are now planning to their keep their nuclear reactors running even after their original operating licenses expire, per WSJ.  Japan, where nuclear power accounted for almost 30% of its electricity before Fukushima disaster, is now considering reopening those plants.

There is rising demand for the radioactive metal from China and India as these countries try to meet the increasing electricity demand while addressing air pollution problems.

The Inflation Reduction Act includes $30 billion in production credits to existing nuclear power plants over the next decade. That is in addition to support provided by last year’s infrastructure law.

To learn about the Global X Uranium ETF (URA Quick QuoteURA - Free Report) , the Sprott Uranium Miners ETF (URNM Quick QuoteURNM - Free Report) and the VanEck UraniumNuclear Energy ETF (NLR Quick QuoteNLR - Free Report) , please watch the short video above.