Why Not More Nuclear Power?

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

Date posted: 07/05/15

Peter Fairley, a consummate supporter of solar and wind power, gives faint praise to nuclear in an attempt to downplay its positive features. He indicates that nuclear plants deliver steady, low-carbon energy - a valuable commodity in a world confronting climate change. Yet the role of nuclear has been diminishing for two decades. Bottom line - just too expensive. But both claims are too general and therefore misleading. Concern over dependence on fossil fuels drove rapid growth in nuclear-plant construction through the 1980s, especially after the oil crises of the 1970s. But nuclear safety became the concern after the meltdowns at Three Mile Island and Chernobyl. Fairley combines the two matters for impact, but no one died or was seriously injured at the former, while the media stampeded public opinion through the latent fear of radiation. Meanwhile, cost overruns and delays eroded investor confidence in nuclear projects. Amid low prices in the 1990s, reactor sales declined and the industry stagnated - just no growth. The share of global power generation contributed by nuclear peaked in 1996, when it supplied 18% of the world electricity. Total electrical output from nuclear power peaked in 2006. Fairley omits the fact the major growth around the world in currently under way. Fairley admits that the IEA-NEA road map makes a clear case for nuclear capacity to more than double, to 930 GW, by 2050 - which would restore nuclear to its historic high of 18% of the global electricity supply and displace enough coal power to cut worldwide carbon dioxide emissions by 2.5 gt. But then diminishes the impact by reminding the reader that this represents about 14% of the power - by coal reduction - needed to limit global temperature increase to 2 degrees C. His claim of excessive nuclear costs should be spread over 50 years of low cost with history of safe energy production in competition with natural gas for the grid. Renewables are still for remote areas and roof tops.