The University of Chicago found that by the time the eighth plant is built – when cost savings due to learning would be complete – the cost of electricity would still remain higher that fossil fuels.īut, of course, cost comparisons with fossil fuels are not the most useful when looking at the role nuclear power might play in mitigating the impacts of climate change. MIT says that although the cost improvements suggested for new reactor types are “plausible but unproven” even if they were all somehow achieved, which is highly unlikely, coal would remain cheaper and natural gas would only exceed the price of nuclear power in the highest fuel price scenario. The very large federal subsidies proposed in the US to make nuclear power appear more attractive to investors, according to Standard and Poor’s: “… may not provide sufficient incentive to pursue new construction.” The failure of nuclear power, so far, according to Smith, has been largely due to its inability to compete economically with coal and natural gas. In the US, where the largest share of nuclear construction is assumed to take place, carbon emissions from electricity production actually increase. Due to increases in demand nuclear power accounts for only 19.2% of the world’s electricity in 2050 compared with 16.3% in 2000. One might imagine that a tripling of installed capacity would have a significant impact on carbon emissions, but it doesn’t. Since all existing reactors would be closed by then, it means 1,000 new reactors. MIT suggests a global growth up to 1,000GW by 2050. It starts by looking at two representative “nuclear growth scenarios” – one from the Massachusetts Institute of Technology (MIT) and one from the University of Chicago. A report for the Institute for Energy and Environmental Research 2006īooks on nuclear power don’t always easily cross the Atlantic, but this one is going to be invaluable. Insurmountable Risks: The dangers of using nuclear power to combat global climate change by Brice Smith.
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