NuScale Power - Meeting U.S. and Global Needs

Uranium (Nuclear Minerals) / Nuclear Power - Economics, Design, & Industry

Date posted: 05/04/15

Energy is a leading discussion topic around the globe. The U.S. Energy Information Agency forecasts the U.S. will need an additional 340 GWe of generating capacity by 2040. Globally, demand for electricity is expected to rise by more than 3,000 GWe in the same period. New nuclear plants are necessary to lessen the world dependence on fossil fuels, to meet the needs of both developed and expanding economies, and to slow the amount of CO2 emitted into our environment. Current U.S. energy market metrics/challenges include: Coal - 318 GWe from 1,112 coal-fired power plants. Aging infrastructure with 50 per cent of power plants more than 40 years old. Changing EPA regulations are making small coal plants uneconomical to operate. Increasing concern with power production that emits greenhouse gases such as CO2 as well as mercury large volumes coal ash waste. Natural Gas - 418 GWE from 493 natural gas-fired power plants. Approximately 50 per cent of the domestic natural gas power production is performed in Texas and Louisiana. Historical volatility of natural gas prices, both up and down. Wind/Solar - Wind and solar are novel ideas and are playing an increasingly important role in our energy supply, but they only produce power about 25 per cent of the time - depending on the weather. Both operations have excessive O and M costs. Both are currently heavily subsidized by state and federal sources of funding so true costs are unknown. Nuclear - 100 GWe from 104 plants represent 10 per cent of U.S. capacity and provides 20 per cent of total generation. NRC licenses expire and retirements begin in 2029. All plants retire by 2050. New larges-scale plants are in planning or expansion in some areas. NuScale has developed a clean, reliable, and economical small modular reactor technology - SMRs - that will play a significant role in meeting future demand in the U.S. and other nations. Local grids in small and large cities, remote areas, and even for offworld colonization.