Dr. Conca reports that the decision to close a perfectly good nuclear power plant well before it should have to close, is a complex decision that usually has to do with short-term profits and politics. But not long-term economic or strategic thinking. And certainly not with concern over climate change.
NextEra Energy will close its Duane Arnold nuclear plant in Palo at the end of 2020, the only nuclear plant in Iowa. Despite being extremely well-run and reliable, the nuclear plant “no longer fits into Iowa’s changing energy portfolio.” Iowa is experiencing a huge renewable energy boom, particularly for wind. Being in Tornado Alley, where millions of years ago even birds decided it was too windy to migrate through, wind turbines have a pretty good capacity factor – they produce their full energy capacity almost 45% of the time, better than almost anywhere in the world for wind. At the same time, natural gas is so cheap that Iowa is planning on increasing that source. Of course, gas is certainly not emission-free, and every time a nuclear plant has closed in America over the last ten years, it has been replaced by gas, increasing those state’s carbon emissions.
Beginning about 10 years ago, this trend has, or will, engulf about 20 nuclear plants by 2026. Duane Arnold produces about 5 billion kWhs of carbon-free electricity each year with a capacity factor of 90%. To replace that with wind, would require about 1,500 MW of new wind turbines at $1.5 million/MW, or $2.2 billion, just for construction. Two natural gas plants could do it for half that construction price, not including fuel costs or new pipelines.
Original working URL: https://www.forbes.com/sites/jamesconca/2019/05/07/climate-change-capitalism-and-nuclear-power-the-closing-of-duane-arnold/#7c3a80cf449f
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