Climate change requires new thinking about energy. Our nation needs to move toward an energy mix less dependent on fossil fuels, for the sake of a healthier, greener and more secure future.
Electric utilities can deploy many tools to help society toward a sustainable, low-carbon future. These tools must include new, clean central station power, particularly nuclear; renewable sources of energy; and conservation and energy efficiency improvements.
In fact, conservation and energy-efficiency improvements must be the "first fuels" in this effort. Steps to promote the use of energy-efficient lighting, boilers and appliances provide the greatest opportunity to reduce carbon emissions right now. They can be taken at the lowest cost and with the quickest payback--and thus provide breathing room for new, clean technologies to be developed. Utilities, with their well-established customer relationships, can help ensure conservation goes beyond the isolated gesture to reach scale.
Utilities must also play a key role in spurring the development of renewable sources of energy such as solar and wind power. As New Jersey's largest utility, we are prepared to invest $100 million for the financing of solar projects as a near-term step toward meeting the state's renewable energy goals.
It is important to recognize, however, that both wind and solar will remain small parts of the energy mix for the foreseeable future. We will still need large power stations that can supply electricity with zero- or low-carbon emissions--and do so abundantly around the clock throughout the year and not just on sunny or windy days.
Nuclear stations are the greenest option available to provide this power. The most widely discussed alternative--carbon capture and storage technology--needs to be developed but is a distant and uncertain prospect at this time.
Looking further ahead, we can anticipate significantly greater demands on the electric grid as we move toward a low-carbon economy. Americans are on course to consume 40% more electricity by 2030. The greening of the transportation sector could conceivably increase this growth considerably more over time: A future in which people plug in their cars to recharge overnight will have an even greater need for the clean air advantages of nuclear-generated electricity.
Indeed, it is difficult to see how we can overcome climate change without nuclear energy being part of the solution. Nuclear power is green power. It is the only proven, available technology capable of producing vast quantities of safe, reliable and affordable energy with near zero-carbon emissions.
So, what will it take to "get to yes" on more nuclear stations around the country ?
First, the nuclear industry will need to sustain the dramatic improvements in plant performance achieved over the last two decades. The nation's nuclear power stations have been operating at around 90% of capacity year round--with many plants exceeding 95%. During the last decade alone, nuclear stations--simply by running as well as they did across the country--avoided some 800 million tons of carbon dioxide being released into the atmosphere, not to mention millions of tons of sulfur dioxide, nitrogen oxide and other pollutants. Operational excellence is indispensable to the industry's future.
Second, the regulatory and policy environment will need to be reasonably stable and predictable to encourage investment. Nuclear power stations are multi-billion dollar, long-term propositions--not the type of project that any company can afford to undertake without a full and careful weighing of risk. If our company decided to build a nuclear plant, it would be at least 10 years before it began producing electricity--and this is an optimistic estimate. The licensing and certification process for building a new nuclear facility is exceptionally lengthy and complex. To the extent it can be simplified, it should be.
To reduce regulatory and policy risk to acceptable levels, it is also necessary to resolve issues surrounding the storage of nuclear waste. Nuclear plants were not originally designed for long-term, high-level waste storage. Our nation must summon the political will to move ahead with a permanent disposal solution.
Finally, public support will be vital. Polls indicate that nuclear energy enjoys approval ratings of 80% or higher in communities within 10 miles of power stations. A growing number of scientists and environmentalists have spoken positively about nuclear technology's role in combating climate change. There are signs the public elsewhere is becoming more aware of nuclear energy's benefits too.
The world is changing rapidly--and public opinion needs to change along with it. Coming to grips with the reality of a carbon-constrained world means coming to grips with nuclear energy as one of our most important energy resources.
Climate change challenges us to think and act in new ways regarding how we use and provide energy. Yet it should not be thought of simply as a huge problem to be surmounted, but as an unmatched opportunity to grow the economy, promote innovation and create new jobs while protecting the planet for future generations.
We need new investment, business and regulatory models for a new age. If we create them, we will go a long way toward building a safer, brighter and green energy future for us all.
Electric utilities can deploy many tools to help society toward a sustainable, low-carbon future. These tools must include new, clean central station power, particularly nuclear; renewable sources of energy; and conservation and energy efficiency improvements.
In fact, conservation and energy-efficiency improvements must be the "first fuels" in this effort. Steps to promote the use of energy-efficient lighting, boilers and appliances provide the greatest opportunity to reduce carbon emissions right now. They can be taken at the lowest cost and with the quickest payback--and thus provide breathing room for new, clean technologies to be developed. Utilities, with their well-established customer relationships, can help ensure conservation goes beyond the isolated gesture to reach scale.
Utilities must also play a key role in spurring the development of renewable sources of energy such as solar and wind power. As New Jersey's largest utility, we are prepared to invest $100 million for the financing of solar projects as a near-term step toward meeting the state's renewable energy goals.
It is important to recognize, however, that both wind and solar will remain small parts of the energy mix for the foreseeable future. We will still need large power stations that can supply electricity with zero- or low-carbon emissions--and do so abundantly around the clock throughout the year and not just on sunny or windy days.
Nuclear stations are the greenest option available to provide this power. The most widely discussed alternative--carbon capture and storage technology--needs to be developed but is a distant and uncertain prospect at this time.
Looking further ahead, we can anticipate significantly greater demands on the electric grid as we move toward a low-carbon economy. Americans are on course to consume 40% more electricity by 2030. The greening of the transportation sector could conceivably increase this growth considerably more over time: A future in which people plug in their cars to recharge overnight will have an even greater need for the clean air advantages of nuclear-generated electricity.
Indeed, it is difficult to see how we can overcome climate change without nuclear energy being part of the solution. Nuclear power is green power. It is the only proven, available technology capable of producing vast quantities of safe, reliable and affordable energy with near zero-carbon emissions.
So, what will it take to "get to yes" on more nuclear stations around the country ?
First, the nuclear industry will need to sustain the dramatic improvements in plant performance achieved over the last two decades. The nation's nuclear power stations have been operating at around 90% of capacity year round--with many plants exceeding 95%. During the last decade alone, nuclear stations--simply by running as well as they did across the country--avoided some 800 million tons of carbon dioxide being released into the atmosphere, not to mention millions of tons of sulfur dioxide, nitrogen oxide and other pollutants. Operational excellence is indispensable to the industry's future.
Second, the regulatory and policy environment will need to be reasonably stable and predictable to encourage investment. Nuclear power stations are multi-billion dollar, long-term propositions--not the type of project that any company can afford to undertake without a full and careful weighing of risk. If our company decided to build a nuclear plant, it would be at least 10 years before it began producing electricity--and this is an optimistic estimate. The licensing and certification process for building a new nuclear facility is exceptionally lengthy and complex. To the extent it can be simplified, it should be.
To reduce regulatory and policy risk to acceptable levels, it is also necessary to resolve issues surrounding the storage of nuclear waste. Nuclear plants were not originally designed for long-term, high-level waste storage. Our nation must summon the political will to move ahead with a permanent disposal solution.
Finally, public support will be vital. Polls indicate that nuclear energy enjoys approval ratings of 80% or higher in communities within 10 miles of power stations. A growing number of scientists and environmentalists have spoken positively about nuclear technology's role in combating climate change. There are signs the public elsewhere is becoming more aware of nuclear energy's benefits too.
The world is changing rapidly--and public opinion needs to change along with it. Coming to grips with the reality of a carbon-constrained world means coming to grips with nuclear energy as one of our most important energy resources.
Climate change challenges us to think and act in new ways regarding how we use and provide energy. Yet it should not be thought of simply as a huge problem to be surmounted, but as an unmatched opportunity to grow the economy, promote innovation and create new jobs while protecting the planet for future generations.
We need new investment, business and regulatory models for a new age. If we create them, we will go a long way toward building a safer, brighter and green energy future for us all.
Via|Forbes|by Ralph Izzo
NUCLEAR|
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