Skip to main content

The New Millennium Nuclear Energy Summit

steven_chu_20101122075346_320_240 The Third Way, a policy organization in Washington, held a conference yesterday called the New Millennium Nuclear Energy Summit, which proved to be exceptionally consequential.

Energy Secretary Steven Chu called for nuclear power to be part of the mix as the nation moves toward mandating that power companies use more clean and renewable energy. As much as 25 percent of the country's power could be from clean energy by 2025,

That’s a start, but not that different than what Chu has said consistently. The consequential part comes with the push for a clean energy standard, which would include nuclear energy along with renewable energy sources as a means to reduce carbon emissions.

“Our Republican friends in the Senate are less comfortable with a renewable electricity standard. They are more comfortable with a clean energy standard that would allow some credit early on for nuclear [and] some credit early on for clean coal,” said Sen. Tom Carper (D-Del.). “Some kind of clean energy standard might actually bridge the difference between the two sides. We’re not going to put a price on carbon, at least for awhile.”

Carper, I should note, is agreeing with his Republican colleagues. And so does Secretary Chu:

“A clean energy portfolio standard is one example of a potential policy that the administration and Congress should discuss,” said Chu.

Indeed. If an important goal of energy policy is to reduce carbon emissions, then leaving nuclear energy off to the side, as most proposals for a renewable energy standard have done, sells the entire policy short. Here’s some more from Chu:

“I think 50 percent [of energy generation from clean energy sources] by 2050 is about right. Quite frankly, I think 25 percent by 2025 is about right. Anything shorter than that is too short for nuclear, but by 2025 there’s enough breathing room so people can make plans.”

And one way to achieve this is through government loan guarantees.  The likelihood of a project defaulting is very low, but the amount of money required to build a plant is enough to make banks hesitate.

President Obama and Chu have both demonstrated support for an increase in loan guarantee volume, which Congress has to approve.

“In the near term, one of the things that we are focused on is additional loan guarantee money,” said Carol Browner, director of energy and climate change policy at the White House. “We have already made one conditional loan guarantee. … We would like to make more. There are projects in the queue, but as people are keenly aware, there are not adequate resources for all the potential projects in the queue.”    

Browner said the administration would be working with Congress to find additional funding opportunities for loan guarantees.

Panel participants urged the members of Congress in attendance to think big when it comes to a clean energy standard.

David Crane, president and chief executive officer of NRG Energy, said that he would like to see a standard with clean energy making up 50 percent of the portfolio by 2050.

“A clean energy portfolio standard is not just a renewable portfolio standard on testosterone,” said Crane. “We’re not talking about a 15 percent niche for wind and solar, we’re talking about something that should be at least 50 percent. A clean energy portfolio standard properly done is a national energy policy.”    

A recurring theme of the conference was the need for concrete action.

Sen. Jim Risch (R-Idaho) summed it all up nicely:

“Nuclear energy is going to provide baseload [capacity] for America to move [in]to the 21st century. We were the leader in the world on this and we put it on the shelf. It’s time to take it back off the shelf.”

A consequential meeting.

TJ Swanek contributed substantially to this post.

Energy Secretary Steven Chu

Comments

Jarret Adams said…
Great roundup of this event! It is encouraging to see the administration warming to the idea of a Clean Energy Standard. Read more of our take at http://us.arevablog.com/2010/12/08/administration-warms-to-clean-energy-standard-including-nuclear-energy/
gunter said…
Howdy folks,

Speaking of consequential...this just out regarding the thinning ice that new reactor development sits upon:

The Securities and Exchange Commission (“Commission”) announced the temporary suspension, pursuant to Section 12(k) of the Securities Exchange Act of 1934 (the “Exchange Act”), of trading in the securities of Alternate Energy Holdings, Inc. (“AEHI”)), of Eagle, Idaho at 9:30 a.m. EST on December 14, 2010, and terminating at 11:59 p.m. EST on December 28, 2010.

The Commission temporarily suspended trading in the securities of AEHI because of questions that have been raised about the accuracy and adequacy of publicly disseminated information concerning, among other things, the stock sales of certain AEHI officers, the status and viability of funding to build a nuclear reactor, and executive compensation.
Brian Mays said…
Anyone who wants to learn more about the recent news concerning AEHI should check out Dan Yurman's article about it.
Anonymous said…
AEHI demise is completely expected and has zero correlation with current serious new reactor development in the US. To think otherwise is completely wishful thinking and naive.
gunter said…
Today, the SEC froze AEHI assets and indicted its CEO and Senior Vice President for defrauding investors.

Further news coming that new reactor construction in US is going entirely reliant upon federal loan guarantees. So these are not really loans at all but a doaling out of the federal taxpayer dollars. To say they are loans, when in fact they are not, constitutes an effort to defraud the US taxpayer, in my book.
Anonymous said…
Loan guarantee projects are low hanging fruit. They have always been expected to be first. DoE was trying to select the most risk-free projects. That is why Calvert failed. It was too much risk for the feds. The feds just priced them out of business due to their high risk. Once the loan guarantees are exhausted, then self-funded projects will follow. It is no different than 60K Toyota Prius getting federal incentives. It takes money to get green tech moving. Nuclear is no different.
htomfields said…
For more media coverage of the event, visit http://www.inl.gov/nuclearenergysummit.

Popular posts from this blog

Missing the Point about Pennsylvania’s Nuclear Plants

A group that includes oil and gas companies in Pennsylvania released a study on Monday that argues that twenty years ago, planners underestimated the value of nuclear plants in the electricity market. According to the group, that means the state should now let the plants close.

Huh?

The question confronting the state now isn’t what the companies that owned the reactors at the time of de-regulation got or didn’t get. It’s not a question of whether they were profitable in the '80s, '90s and '00s. It’s about now. Business works by looking at the present and making projections about the future.

Is losing the nuclear plants what’s best for the state going forward?

Pennsylvania needs clean air. It needs jobs. And it needs protection against over-reliance on a single fuel source.


What the reactors need is recognition of all the value they provide. The electricity market is depressed, and if electricity is treated as a simple commodity, with no regard for its benefit to clean air o…

How Nanomaterials Can Make Nuclear Reactors Safer and More Efficient

The following is a guest post from Matt Wald, senior communications advisor at NEI. Follow Matt on Twitter at @MattLWald.

From the batteries in our cell phones to the clothes on our backs, "nanomaterials" that are designed molecule by molecule are working their way into our economy and our lives. Now there’s some promising work on new materials for nuclear reactors.

Reactors are a tough environment. The sub atomic particles that sustain the chain reaction, neutrons, are great for splitting additional uranium atoms, but not all of them hit a uranium atom; some of them end up in various metal components of the reactor. The metal is usually a crystalline structure, meaning it is as orderly as a ladder or a sheet of graph paper, but the neutrons rearrange the atoms, leaving some infinitesimal voids in the structure and some areas of extra density. The components literally grow, getting longer and thicker. The phenomenon is well understood and designers compensate for it with a …

A Billion Miles Under Nuclear Energy (Updated)

And the winner is…Cassini-Huygens, in triple overtime.

The spaceship conceived in 1982 and launched fifteen years later, will crash into Saturn on September 15, after a mission of 19 years and 355 days, powered by the audacity and technical prowess of scientists and engineers from 17 different countries, and 72 pounds of plutonium.

The mission was so successful that it was extended three times; it was intended to last only until 2008.

Since April, the ship has been continuing to orbit Saturn, swinging through the 1,500-mile gap between the planet and its rings, an area not previously explored. This is a good maneuver for a spaceship nearing the end of its mission, since colliding with a rock could end things early.

Cassini will dive a little deeper and plunge toward Saturn’s surface, where it will transmit data until it burns up in the planet’s atmosphere. The radio signal will arrive here early Friday morning, Eastern time. A NASA video explains.

In the years since Cassini has launc…