I have often mentioned that the nuclear industry enjoys special treatment from the U.S. government. The Nuclear Regulatory Agency is not enforcing regulations rigorously for the operators of nuclear power plants. Billions and billions of dollars have been handed out in grants and loan guarantees.
In February of this year, the DoE announced a six billion five hundred million loan guarantee for the new Vogtle nuclear power reactors which are the first new reactors to be built in the U.S. in thirty years. There is concern that some of the other projects will not be able to find full financing because of investors' fears of risks associated with new nuclear projects that rely on technology that has never been deployed before. The program of loan guarantees is intended to help these new project get the financing that they need to proceed.
The U.S. Department of Energy has just announced that it is releasing a draft of a twelve billion six hundred million dollar loan guarantee solicitation for advanced nuclear projects. It claims that this is a "significant step" in helping the U.S. meet future low-carbon goals. The loan guarantee is coming through the DoE Loan Programs Office (LPO). In support of that goal, DoE has identified four key technology areas of interest - advanced nuclear reactors; small modular reactors; uprates and upgrades at existing facilities; and advanced nuclear facilities for the front-end of the nuclear fuel cycle.
According to the executive director of the LPO "If you want to fight climate change, nuclear power has to play a role. This solicitation can help build new nuclear power plants with enhanced safety features and zero emissions. That's a win for the climate, our energy mix, and American innovation." He also said that "The nuclear industry used to be one-size fits all – but no more. We designed our new solicitation around the activity we're seeing in the marketplace. That includes traditional reactors, SMRs, and innovative uprates that can increase output at existing facilities."
Unfortunately there is a lot of debate over just how "low-carbon" a nuclear power plant is. A great deal of carbon dioxide is released in the construction of a nuclear power plant. The mining, refining and transportation of fuel and the construction of temporary containers for spent nuclear fuel also release carbon dioxide. The U.S. would have to build hundred of nuclear power plants to have any appreciable impact on U.S. carbon dioxide emissions. Given that this would require at least a decade to accomplish, it will be too slow to really help with our carbon dioxide emissions. The money being spent to prop up the aging and ailing nuclear power industry in the U.S. would be better spent on renewable energy sources.
Containment vessel for Vogtle Reactor 3:
