It Might be Time to Bring Nuclear Power Back to America

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

Date posted: 08/30/16

Rafi Letzter blogs that the U.S. has committed to cutting 80% of the greenhouse gases it currently pumps into the air by 2050. It is a major project, and an expensive one, too. But Columbia University environmental economist Geoffrey Heal said nuclear power could cut those costs significantly. Here is why... Shifting to an 80% cleaner grid will likely involve building up solar and wind from about 6% to 66% of total electric generation on the U.S. grid. In addition to the costs of the windmills and photovoltaic panels themselves, the country will need to build giant batteries and interstate power lines to help deal with days where one area might not get enough sun or wind. All told, Heal estimates the project will run into the trillions of dollars over 34 years. Though far from cheap, nuclear power could help cut those costs. New plants could reduce the burden of wind and solar from 66% to 50%, Heal found, saving money in the process. Nuclear power plants get a bad rap, mostly due to safety issues with older reactors. But a properly functioning plant only emits one thing into the atmosphere... safe, clean, water vapor. Stepping up plant construction could cut the solar, wind, and battery requirements down from two-thirds to one-half, saving the economy a lot of money in the process. That was a calculation I found surprising, because nuclear is something that is regarded as very expensive, Heal said. and it is effectively priced itself out of the market these days. Where is nuclear power now? Right now, nuclear power accounts for 20% of all electricity on the grid. But U.S. nuclear infrastructure is aging. The last reactor to come online was Tennessee Watts Bar facility back in 1996, which broke ground way back in 1973. Only one other plant, Watts Bar 2, is now under construction. At the same time, 20 old plants could shut down in the next decade. And of course, no one has offered a good solution for disposing of barrels of nuclear waste...what about Yucca Mt?