6/3/2023 0 Comments Nuclear fission![]() utilities are incentivized to retire their assets when fully depreciated, which is the exact opposite of what should be done. In addition to cost benefits, lifetime extension will allow the industry to maintain know-how while developing new advanced nuclear technologies.Ī recent example is Diablo Canyon, California’s last operating nuclear power plant, which has received federal funding for life extension. DOE estimated that a 1-GWe reactor could produce up to 150,000 tons of clean hydrogen per year. Inexpensive nuclear energy can also be used to power the hydrogen economy. ![]() With plants already depreciated, lifetime extension offers CO2-saving opportunities at extremely low cost compared to new build, making nuclear cheaper than renewables. Most nuclear reactors can operate safely beyond their designed lifespan of 40 years. For this reason, the industry has recently been bullish on Small Modular Reactors (SMRs).Īnother solution to lower the cost of nuclear and electricity in general is to extend the lifetime of existing reactors. While utilities hope to accelerate their learning curve, there is a valid argument against large reactors because of their intrinsic complexity. ![]() In the U.S., the Vogtle nuclear power plant’s two new reactors are seven years behind schedule and $16 billion over budget. The nuclear industry has a recent history of construction delays and cost overruns. Our World in Data has compared the death rate of energy sources, and nuclear is the second safest, after solar energy. Meanwhile, fossil fuels are responsible for the deaths of 7M people worldwide every year, according to WHO. The Fukushima nuclear accident did not cause any adverse effects on the health of Fukushima inhabitants, according to a 2021 United Nations report. Chernobyl’s reactor was a RBMK design, which was inherently unstable and is no longer operated in the West today. Those events have told us that the nuclear risk exists, but must also teach us to put it in perspective with the climate risk. Nuclear energy is haunted by the Chernobyl and Fukushima accidents. ![]() A solution would be to burn the spent fuel with a new type of reactor using fast neutrons. However, on this time scale, there can be no certainty that required information will be properly transmitted through generations. Spent fuel must be stored safely (e.g., underground) for 300,000 years before getting back to natural radioactivity levels. Nuclear waste encompasses different categories, but the most radioactive waste is spent fuel that is recovered from the reactor core. Why are we observing this nuclear fade case? Three demons, three reasons: waste, safety, and cost. Every new gas capacity built now will most likely remain in the energy landscape beyond 2050, the target date for carbon neutrality. As nuclear reactors retire, gas-fired power plants will play an even more central role. With this status quo, the energy transition in advanced economies will require an additional $1.6 trillion of investment over the next two decades. The nuclear fleet in advanced economies is ageing and 25% of existing reactors are expected to be shut down by 2025. Yet, the West is observing a decline in nuclear capacity. It also produces much more energy than other sources on a given land area. Hence it does not require storage capacities to be reliable and has a high capacity factor (~90%). Nuclear power is attractive because it does not emit CO2 and is independent of meteorological factors, unlike wind or solar energy. Project Drawdown estimates we need to cumulatively eliminate 1,000 GT from 2020-2050 to keep global warming below 2 degrees Celsius.Īs population grows, living standards improve, and electrification accelerates (e.g., through increased adoption of heat pumps and EVs), the world needs clean, abundant, and cheap electricity. This alone could save 5 gigatons of CO2 annually.įor reference: in 2019, the world emitted 51 gigatons of CO2-equivalent greenhouse gases. The IPCC found that global nuclear capacity would need to triple, reaching 1160 GW of electricity by 2050, to achieve our climate ambitions. Over the past 50 years, nuclear has saved our atmosphere from more than 60 gigatons of CO2 emissions that would have otherwise come from fossil fuels. carbon-free electricity in 2021, according to the IEA (International Energy Agency). Nuclear energy generated more than half of the U.S.
0 Comments
Leave a Reply. |