Abstract
AbstractThe growing prevalence of clean energy raises the question of possible associated externalities. This article studies the effects of nuclear power plant development (and, as a result, the increased amount of water in the atmosphere from evaporative cooling systems) on nearby crop yields and finds that an average nuclear power plant increases local soybean yields by 2 and corn yields by 1 percent. Considering the low elasticity of demand for these crops, the yield increases translate to annual net benefits of $229 million (2020 US dollars) – $317 million in losses to farmers and $546 million in benefits to consumers.
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