Yes - nuclear is too expensive and takes too long to build.
The same can be said about almost any leading-edge technology. It’s irrelevant. The question is whether the cost/build curve can be brought into line.
Oh right. Nuclear isn’t new technology. Technically correct. Except the average age of existing U.S. plants is 42 years. Small modular reactor technology is only about 20 years old and only $176 billion has been invested worldwide, most of which has occurred since 2021.
I’m not saying definitively that nuclear is the answer, but it’s essential we make the effort to determine if it can be. Wind and solar alone are not sufficient. In fact, the shortcomings in deploying wind and solar have prompted numerous nuclear facilities to request operational extensions.
Last year California moved to keep Diablo Canyon running. In 2021 Illinois passed legislation to fund operating losses at its Byron and Dresden facilities. And the Palisades nuclear plant in Michigan is attempting to recommission after being shut down. Notwithstanding the poor economics, without these plants, emissions would rise. That’s what occurred in New York when Indian Point closed.
Nuclear plants are licensed to operate for 40 years. After that they can apply for a 20-year renewal. After that they can request a subsequent license renewal (SLR) to operate another 20 years.
I know - it’s a bit scary to think of an 80-year-old nuclear plant. Fortunately, they were built to last. Still, we need to turn the page on decades old technology.
Note that as of as of June 2023, 87 of the 92 operating nuclear reactors in the U.S. have extended their licenses to 60 years. Sixteen reactors have applied for SLRs, and six plants have already received SLRs.
On the new facilities front the Vogtle Unit 4 plant in Georgia is finally operational. Vogtle is far from a “poster plant” for nuclear energy. The first two units have been operating since 1989. Construction on units 3 and 4 started in 2009. Unit 3 came online last year.
In all, the final two units were seven years behind scheduled and a whopping $17 billion over budget. Nonetheless, with all four units in service, Vogtle is now the largest nuclear facility in the U.S.
Although most are unaware, both the Inflation Reduction Act and the Infrastructure Act included aid for nuclear plants. Together these bills have saved 22 reactors and will help fund the next generation of modular reactors.
Internationally, Japan is nearing a restart of the world’s largest nuclear plant. And as of the end of 2023, the EIA indicated that Japan has returned 12 reactors to commercial operation. Eight others are planning a restart, and 10 more are under review.
Although nuclear isn’t ready for prime time it appears there will be an opportunity to determine if today’s nuclear technology can make the grade.
#nulcear #nuclearpower #nuclearenergy