I’ve mentioned before that I’m a big supporter of nuclear (and renewable) sources of energy and how frustrated I am that the social stigma attached to it has seen what would otherwise be a clean and safe source of power slip by the wayside. Many people seem to think that there’s more danger inherit in this technology than there is in other power generation when this is simply not the case, but it seems that incidents of reactors past are still fresh in everyone’s mind. Still with countries like France pioneering the way for nuclear energy I’ve always held out that hope that one day we can transition away from our current energy dependency on oil and coal.
It would seem that Obama isn’t as short sighted as many of his constituents are:
In his speech, Mr. Obama portrayed the decision as part of a broad strategy to increase employment and the generation of clean power. But he also made clear that the move was a bid to gain Republican support for a broader energy bill.
“Those who have long advocated for nuclear power — including many Republicans — have to recognize that we will not achieve a big boost in nuclear capacity unless we also create a system of incentives to make clean energy profitable,” Mr. Obama said.
He also strikes on one of the biggest problems (other than the social stigma) that nuclear power faces: the cost. Current estimates for new reactors peg the total construction cost between $6~10 billion dollars with costs of construction going up faster than other means of power generation. Obama hits the nail on the head when he says that incentives are needed as the majority of western countries are quite hostile to new nuclear plants. The amount of regulation and beaucracy involved in setting up these plants typically makes them unprofitable for those who would want to set them up. Guaranteeing funding for the majority of the work means that a lot of the risk is absolved by the government, making the endeavour much more attractive.
Obama also gets kudos for using the proper spelling of nuclear (although that could be the reporter, I haven’t heard the speech myself. If you’ve got a link to it let me know!).
There is however hope for future reactors like the Westinghouse AP1000 (Yes, that Westinghouse) which has been commissioned by China for the princely sum of just $2 billion, a drastic reduction in cost. Additionally with China’s economy still growing strong they’ve planned a grand total of 100 of these reactors to be built over the course of the next decade which will have the added side effect of driving massive economies of scale when it comes to building AP1000 plants. With time I can see this reactor tech becoming a lot cheaper than their coal and oil counterparts, a critical step in driving mass adoption of nuclear technology.
However, whilst I believe that nuclear is the solution to many of our current problems I do not believe that it is the final solution to our insatiable craving for energy. Research shows that as GDP increases so does energy consumption, so you can imagine that a country like China who is just beginning to create a giant middle class will create a demand for energy on a scale that we haven’t seen before. Whilst nuclear will be capable of sustaining them (and others) in the short term the fact remains that nuclear is really just a far more efficient fossil fuel, and alternatives must be sought.
Currently my hopes remain in fusion technology. Whilst they still fall under the umbrella of fossil fuels they produce far and away more energy from orders of magnitude less fuel. However the technology is still in its infancy and requires significant amounts of research before commercial reactors become available. The good news is that many see the potential in this future technology with projects like ITER attracting funding and involvement on an international scale. People might say that fusion is always 20 years away, but I have my hopes for this technology.