Mark Berkman, Ph.D. and Dean Murphy, Ph.D., of the Brattle Group, reported in July, 2015 that nuclear power currently accounts for 19% of U.S. power production, but several factors are at play that may threaten some nuclear generators and could diminish the nuclear industry contribution to our electricity supply and the U.S. economy. These factors include limited recognition of carbon as a social cost, as well as market factors such as low natural gas prices, flat electricity demand growth, and transmission constraints. At the request of Nuclear Matters, The Brattle Group has estimated the value of the entire nuclear industry to the U.S. economy, and its contribution to limiting greenhouse gas emissions, to inform the discussion of whether and how these factors should be addressed. Their analysis of the incremental effect of the U.S. nuclear industry has determined that it: 1. contributes approximately $60 billion annually to U.S. gross domestic product (GDP) ($103 billion annually in gross output). 2. accounts for about 475,000 full time U.S. jobs (direct and secondary). 3. helps keep electricity prices low, without nuclear generation, retail rates would be about 6% higher on average. 4. is responsible for nearly $10 billion annually in additional federal tax revenues, and $2.2 billion in additional state tax revenues, because of the boost it gives to the economy. 5. prevents 573 million tons of carbon dioxide emissions, worth another $25 billion annually if valued at the federal government social cost of carbon estimate. 6. prevents over 650,000 tons of nitrogen oxides (NOX) and over one million tons of sulfur dioxide (SO2) emissions annually, together valued at $8.4 billion based on the National Academy of Science externality cost estimates.
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