3 Nuclear Energy Stocks to Buy Before 2026 Ends

There are 417 operating nuclear reactors worldwide, with another 77 currently under construction. Rising electricity demand is driving the construction of new reactors, with the U.S. alone expected to see a 6x increase in power demand growth between 2025 and 2045. Global electricity demand is coming from nations that are moving up the socioeconomic ladder and from modern technologies, such as artificial intelligence and the electrification of products once powered by fossil fuels (cars and lawn equipment, among other things).

This could be a long-term investment opportunity for those who believe nuclear power will be a key part of the solution to meeting rising electricity demand. Here are three ways to get involved in the nuclear renaissance in 2026: Cameco (NYSE: CCJ), Brookfield Renewable (NYSE: BEP)(NYSE: BEPC), and, for more aggressive investors, NuScale Power (NYSE: SMR).

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Cameco provides a fuel that could be in short supply

Cameco is a supplier and service provider to the nuclear power industry. It is based in Canada, so it operates in a politically and economically stable region, making it a reliable supplier for Western nations. That's the first big selling point for the company, but the real story is about the breadth of its offerings.

Cameco mines for uranium and processes it into usable fuel. Based on current projections of uranium supply and demand, demand could begin to outstrip supply in the early 2030s. Uranium is a commodity, so this dynamic could lead to sharply higher uranium prices. That's the second big selling point, since Cameco is one of the world's largest suppliers of nuclear fuel.

The third selling point is that Cameco owns half of Westinghouse, one of the world's largest service providers to the nuclear power industry. This business generates consistent fee-based revenues, which should help to smooth out Cameco's earnings stream over time. Cameco's stock is hardly cheap right now, after a large rally that began around 2020, so value investors probably won't find it of interest. But if you believe nuclear power is going to be a key part of the global power solution, long-term investors should probably take a closer look today (before uranium demand outstrips supply).

Brookfield Renewable offers yield and nuclear exposure

For investors with an income focus and a more conservative bent, Brookfield Renewable may be the better choice. This Canadian clean energy business operates a globally diversified portfolio of solar, wind, hydroelectric, and battery storage assets. That leans into the electricity theme, but leaves out nuclear. Brookfield Renewable's nuclear exposure comes from its part ownership, along with Cameco, in Westinghouse. It isn't likely to be the driving force behind Brookfield Renewable's growth, but investing here could allow less aggressive types a chance to participate in the nuclear renaissance.

That said, the really big draw will be the 5.1% yield you can collect from either the partnership share class or the corporate share class. Notably, the distribution has grown at roughly a 5% annualized rate over the past decade, right in line with management's targets. Add a 5% yield to 5% distribution growth, and you get roughly 10%, which is about what investors expect from the broader market over the long term. If you are a dividend investor who prefers low-risk investments, highly diversified Brookfield Renewable could be your entry point into the nuclear age.

NuScale Power is a high-risk nuclear power start-up

Flipping from low-risk to high-risk, more aggressive growth investors may want to look at NuScale Power. The company is attempting to build a business around small modular nuclear reactors (SMRs). It has an approved design, and the company is already building out its manufacturing capabilities. The one thing it doesn't have yet is a sale.

So there's a lot of investment, but very little in the way of revenue. The company is bleeding red ink. However, that's not unusual for a start-up. And NuScale has two irons in the "sales fire" that could lead to its first customer. RoPower, a Romanian power company, has approved a nuclear reactor project that would use six NuScale SMRs, but it still needs to secure project financing. And NuScale is partnered with ENTRA1 Energy and the Tennessee Valley Authority, a team-up that could lead to NuScale being included in a large U.S. nuclear power project.

Even after its first signed contract, NuScale still has a lot of work to do before it has a proven business model. But the first sale could materially alter how investors view the stock and the company's long-term business prospects. Buying now, while risky, could get you in the door before NuScale gets its business going, potentially allowing you to get in before the crowd.

Three ways to play nuclear power in 2026

Investing requires balancing risk and reward. Supplier Cameco enables you to grow alongside nuclear power demand, since reactors can't run without fuel. Brookfield Renewable is a relatively low-risk way to add both nuclear exposure and a high yield to your portfolio if you can't stomach jumping into nuclear with both feet. And NuScale Power is basically doing a cannonball, as a high-risk, high-potential-reward nuclear start-up. If you are interested in nuclear power in 2026, one of these three nuclear power stocks could be right for you before the year is over.

Reuben Gregg Brewer has positions in Brookfield Renewable Partners. The Motley Fool has positions in and recommends Cameco. The Motley Fool recommends Brookfield Renewable, Brookfield Renewable Partners, and NuScale Power. The Motley Fool has a disclosure policy.