The move towards renewable energy is causing global sentiment to warm up towards nuclear energy, which was once unfathomable.

Nowadays, while it can still be a polarizing topic, the thought of nuclear energy use isn’t too far removed from reality. That’s especially the case now that more governments worldwide are looking towards renewable energy sources and nuclear power could be one of them moving forward.

“Governments are reconsidering nuclear power, given its ability to provide predictable carbon-free energy,” a Wall Street Journal article says. “Fission, splitting atoms to release energy, was the wunderkind of the 1960s and 1970s, but fell from favor after disasters at Three Mile Island, Chernobyl and Fukushima.”

As mentioned, nuclear power will have to shed its past in order to move towards wider acceptance. It’s slowly moving in that direction with the recent trillion-dollar infrastructure package allocating a portion of its funds towards nuclear energy.

“While there are places where the safety risks and waste problem mean nuclear energy is verboten, notably Germany, most big economies expect to include it in their net-zero energy mix,” the WSJ article adds. “President Biden’s $1.2 trillion infrastructure bill included at least $8.5 billion for nuclear energy. The European Union is considering classifying nuclear as green. Britain, Russia, China, Japan and South Korea all want it to play a role. Political backing is important, given the costs and challenges of building new reactors.”

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A Growth Opportunity With Uranium

A resurgence in nuclear power will boost the case for uranium. The metal is used as a source of concentrated energy to help form nuclear power.

Investors sensing a growth opportunity with increased uranium usage can look to exchange traded funds (ETFs) that focus on the metal. One fund to consider is the Sprott Physical Uranium Trust (U.U), which trades on the Toronto Stock Exchange.

U.U provides a secure, convenient, and exchange-traded investment alternative for investors interested in holding uranium. U.U comes with a 0.35% management fee.

“Uranium spot prices have been rising in 2021, in what we see as a strong new bull market,” Sprott notes on its website. “Investors are betting on nuclear energy’s profile as a highly efficient, reliable and clean energy source. Aggressive decarbonization goals worldwide are driving major policy shifts that are likely to bolster demand for uranium and nuclear energy.”

For more news, information, and strategy, visit the Gold & Silver Investing Channel.