Status and Outlook for Nuclear Energy in the United States

Abstract

The US nuclear power industry is performing well, uprating many of its 104 existing plants and planning for new capacity. Production cost is low and licence extensions promise 60-year operating lives for present plants. However, the Obama administration has derailed plans for a waste repository in Nevada, and the matter has been referred to a high-level commission which is fully reviewing waste management, including the question of closing the fuel cycle in USA. Meanwhile four new enrichment projects are moving ahead, uranium mining is reviving, and the industry is in good shape to cope with likely high uranium prices. Several factors converge to support the prospect of building as many as 20 new power reactors in the next two decades. The next generation of nuclear plants will benefit from an improved licensing process, which was completely overhauled in 1992. The new nuclear power projects will employ advanced versions of the light water reactor technology used in the 104 operating plants. Small reactors including high-temperature gas-cooled designs and fast neutron reactors are on the drawing boards. Financing new plants will require up to $2 trillion by 2030, but some stimulus, including loan guarantees, is provided by the 2005 Energy Policy Act. Both Environmental Protection Agency (EPA) and the Energy Information Administration (EIA) show that substantial increases in nuclear generating capacity will be essential to meet carbon reduction goals. A substantial majority of Americans support the use of nuclear energy now, and nearly 90 percent said they view nuclear energy as important in the future.