dc.description.abstract |
The Nuclear Regulatory Commission (NRC) is gearing up for a surge in new nuclear power
plant applications for the first time in thirty years. Although a new nuclear power
plant has not been built in the U.S. in twenty years, concerns about climate change
and an increased interest in energy security have put nuclear power back on the table
as a technically viable energy option that can provide base load power without emitting
carbon dioxide. However, the history of nuclear technology in the U.S. and lower electricity
costs from fossil fuels do not allow nuclear power to be competitive on its own. This
situation and the capital costs involved in building a nuclear power plant create
tremendous economic barriers for the industry.
Through an examination of economic barriers, this project attempts to determine whether
or not new nuclear power plants can be built in the United States. If they can, what
are the key indicators that this is so? If not, what policies could possibly reverse
this outcome? The methods to answer these questions include a literature review, personal
interviews with NRC employees, and a policy analysis. The analysis section focuses
on how current and prospective legislation could address barriers to a nuclear expansion.
The results indicate that the competitiveness of nuclear power will be addressed by
Production Tax Credits the 2005 Energy Policy Act for the first 5 or 6 plants that
are approved by the NRC. Carbon-limiting legislation will assist a nuclear expansion
beyond this initial build. An international bottleneck for nuclear-grade materials
will slow a nuclear expansion; however, it is likely that the nuclear-grade manufacturing
industry will expand. Ultimately, the most significant barrier to a nuclear expansion
in the U.S. is the storage of high-level nuclear waste. Yucca Mountain has been embroiled
in political controversy since 1982, and the nation’s nuclear waste continues to accumulate
on-site at 104 operating reactors across the country. Absent technical solutions
like reprocessing or the opening of a geologic repository, moving forward with a significant
expansion of the commercial nuclear power sector in the U.S. will be difficult.
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