Source: EIA via Power Engineering

In a market plagued by financial woes and doubt created by the bankruptcy of Westinghouse Electric, the nuclear power business in the United State is collapsing for a number of reasons, according to a new report. The U.S. Energy Information Administration last week projected that nuclear power’s share of U.S. electricity generation would fall from 20 percent in 2016 to just 11 percent in 2050. During this period, the nation is expected to take nearly 30,000 megawatts of nuclear capacity off line, but will add just 9,000 MW of capacity from uprgrades and new projects. Nuclear’s downfall, the EIA said, is a result of a number of factors, including: skyrocketing costs and delays for new projects in Georgia and South Carolina, low power prices caused by a glut of cheap gas-fired capacity, strict safety requirements following the meltdowns at the Fukushima nuclear plant in 2011; and a high level uncertainty following the bankruptcy of Westinghouse. Also, a large number of nuclear power plants in the United States which are issued 40-year operating licenses, are more than 40 years old. As a result, a whopping 90 percent of U.S. nuclear plants have applied for a 20-year renewal or are being operating under a recently renewed license.

– via Power Engineering / Russell Ray

 

Share This