Nuclear power surge coming

In the next 15 months, US regulators expect applications for up to 28 new plants.

With this week’s application to build a new nuclear plant
But the renaissance may be less robust than it looks. Even if the projects are successful and building proceeds at breakneck speed, the lead times are so long and costs so high that it’s unclear that the US can build enough nuclear plants to make a dent in greenhouse-gas emissions by 2050. They’re so financially risky, experts say, that the only reason building plans are under way is that the federal government has stepped in to guarantee investors against loan defaults.

“Clearly, [nuclear power companies] are not so confident or they wouldn’t want the federal government and taxpayer to be guaranteeing the loans,” says David Schlissel a longtime nuclear industry analyst with consulting firm Synapse Energy Economics in Cambridge, Mass.

The industry says it needs the aid to get nuclear power rolling again.

“Yes, we need some help and assistance getting these large projects off the ground,” says Paul Genoa of the Nuclear Energy Institute (NEI) in Washington. “This will always be labeled as subsidies. But one person’s subsidy is another person’s incentive. These are the first nuclear power plants to be built in years and there’s a role for government here.”

Christian Science Monitor