by Tanada » Wed 21 Sep 2022, 08:56:47
$this->bbcode_second_pass_quote('', '[')b]Coal plant sites could host 265 GW of advanced nuclear, costing 35% less than greenfield projects: DOE
Dive Insight:
The report comes as states and the federal government are looking for ways to take advantage of transmission lines and other equipment that was built to serve coal-fired power plants, in part to support the communities around the retired or soon-to-be shuttered generating facilities.
Illinois, for example, intends to install a mix of solar and battery storage at 11 retired coal-fired power plant sites while TerraPower is planning an advanced nuclear reactor demonstration project near the coal-fired Naughton plant in Wyoming.
DOE researchers from the Argonne, Idaho and Oak Ridge national laboratories found 190 operating coal plant sites that could host nearly 200 GW of nuclear capacity and 125 recently retired plant sites that could handle about 65 GW of nuclear capacity. There are about 100 GW of existing nuclear capacity in the United States, which account for 8.2% of all U.S. generating capacity, according to the Federal Energy Regulatory Commission.
Coal-to-nuclear, or C2N, projects appear to perform better economically than stand-alone, greenfield nuclear projects, the researchers said.
Also, building nuclear plants at retired coal plant generating stations may provide an economic boost to disadvantaged communities, according to the report.
“The study results suggest economic potential for communities and firms that pursue C2N transitions,” the DOE researchers said. “An implication of this is that there is a potential advantage for interested coal communities to be first movers in what could be a series of many C2N transitions across the United States.”
The researchers’ economic and environmental impact analysis was based on a hypothetical 1,200-MW coal-fired power plant in the Midwest that is replaced with a 924-MW nuclear plant.
That analysis suggests jobs in the region could increase by more than 650 permanent jobs, up from an estimated 150 jobs connected to the coal-fired power plant, the researchers said.
“Swapping out retiring coal-fired power plants with advanced nuclear reactors reduces carbon emissions, improves air quality, and provides economic benefits to communities,” Greenwald said. “It also minimizes siting challenges, reduces or eliminates community and economic impacts due to asset retirement while producing clean and reliable energy.”
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Why Nuclear Energy Is Now Part of The Road to Renewables What do Microsoft founder Bill Gates, climate scientist James Hansen, legendary venture capitalist Fred Wilson and the governments of Germany and Japan have in common? They are all exploring how nuclear power can be a part of the transition to a net zero world.
What a difference a decade makes. After the 2011 Fukushima crisis, nuclear power seemed to be facing possible extinction after Japan and Germany pledged to phase out nuclear energy. Now, everything is changing for three main reasons; a global energy crisis caused by Russia’s invasion of Ukraine, an evolving understanding of the role nuclear power can play in helping battle climate change, and advances in technology enabling smaller nuclear plants.
In late August, Japan said it will restart idled nuclear plants and may develop next-generation reactors, something unimaginable after a tsunami caused a nuclear meltdown at Fukushima. Japan’s short-term motive is ending its reliance on Russian oil. Long-term, it’s a step toward a fossil fuel-free world. And, in a policy reversal, Germany is expected to prolong the use of three nuclear power plants because bans on Russian oil and natural gas have made it possible that millions of Europeans may be unable to afford to heat their homes this winter.
Many in Generation X and Baby Boomers — the generations of my parents and most of their peers — understandably think of nuclear energy with dread. They grew up in a Cold War society fearing nuclear annihilation, and have vivid memories of nuclear accidents near home at Three-Mile Island, and in far away places like Chernobyl.
Putting Past in Perspective
But for many of my generation, the kids of Gen X, harnessing nuclear energy is an idea worth consideration. We can put those earlier nuclear disasters in perspective, mindful that the larger, looming catastrophe we face is climate change. Long after the Baby Boom generation has passed on, our generation and our children will inhabit a still-heating planet where we still pump carbon dioxide emissions from fossil fuels into the atmosphere.
To be sure, nuclear energy needs to be tightly managed. Corruption and ignorance played a part in past disasters and Russia’s bombardment of a nuclear plant in Ukraine highlights ongoing security concerns. But technology has advanced, and our outlook must evolve, too.
This shift in attitudes has boosted nuclear stocks. Significant investment is making nuclear facilities more agile, faster to build and bring online and, ultimately, safer. Regulations are also helping. Stocks of nuclear power providers have outperformed the broader stock market lately. Outperformers include Constellation Energy (Constellation Energy Corporation - $87.75 1.61 (0.01802%) ), NRG Energy (NRG Energy Inc. - $42.80 1.22 (0.02771%) ), Xcel Energy (Xcel Energy, Inc. - $73.48 1.05 (0.01409%) ) and Entergy Corp. (Entergy Corp. - $114.30 1.58 (0.01363%) ), which all outpaced the broad S&P 500 Index over the summer. Helping their advance has been the Inflation Reduction Act, which includes a subsidy for nuclear plants, including "production tax credits" to existing plants.
Why is Washington supporting nuclear energy in a law aimed at tackling climate change? Because the sun doesn’t shine at night and wind turbines only operate efficiently within a narrow range of wind speeds. That means we need something paired with renewables for reliability. One option is natural gas-fired peaker plants that burn fossil fuels. Or we could develop better batteries to efficiently store solar and wind power for when it is needed, or employ another form of clean energy, such as nuclear power. As policymakers consider these choices, nuclear is overcoming some of its long-standing constraints through innovation.
For Nuclear, Smaller is Better
Smaller nukes can now be built within existing electrical facilities to replace coal-burning plants. These space-efficient plants require less time for regulatory approval and are safer, requiring less oversight. The “tiny nuclear” movement (which shares its ethos with the distributed solar movement) has attracted investment from private firms testing new designs.
And two of the world’s smartest guys (a Boomer and a member of the Greatest Generation) are also betting on tiny nukes. Bill Gates’ Terrapower and Warren Buffett’s PaciCorp are partnering to build a facility on the site of a Wyoming coal-fired power plant. The 345-megawatt reactor would be the smallest commercial U.S. nuclear plant and could power 400,000 homes. Terrapower believes its design can enable faster licensing and construction, and position it to go live on the power grid in 2028. Through U.S. Department of Energy grants and other incentives, Washington has committed $1.9 billion to the project.
Public pressure triggered by Three-Mile Island in 1979, amplified by Chernobyl in 1986 and hammered home by Fukushima in 2011 caused the nuclear industry to retrench. But these disasters were unique and had limited consequences. Since Three Mile Island, there have been few notable U.S. nuclear incidents even as nuclear provides some 20% of our electricity. Chernobyl was caused by negligence while Fukushima was located near an undersea fault line. A common element of all three is how few humans were sickened or died.
The long-term safety record of nuclear energy was among the reasons why in 2020 the Democratic party changed its position regarding nuclear energy to favor “all zero-carbon technologies, including hydroelectric power, geothermal, existing and advanced nuclear, and carbon capture and storage.” This was the first time Democrats have backed nuclear since 1972 and today both parties are backing nuclear.
Even climate scientist James Hansen has called nuclear power one of the best means for rapidly reducing greenhouse gas emissions. Meanwhile, nuclear energy costs pennies on the dollar compared to fossil fuels. And while the sun gives away its energy for free, we’ve yet to figure out an efficient way to harvest, store and transport electricity from it at scale.
Technology could yet push nuclear energy to new advances. Legendary venture capitalist Fred Wilson has put out a call for novel ideas to advance nuclear energy. “I've been looking into nuclear reactors and batteries with the lens of how small is possible,” the famed investor wrote on his blog. “Could we make a nuclear reactor or battery that fits in our home? Could we make a nuclear reactor or battery that we carry with us like a phone? I know these ideas seem preposterous but … often we bump into something else along the way that is even more interesting.”
With enthusiasm like this from Wall Street, climate scientists and leading governments from Washington to Tokyo, it seems like nuclear power is getting a new lease on life.