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Nuclear power makes no financial sense

11/06/2009  What’s the Allure of Nuclear? SustainableBusiness.com News

Since 2007, there have been applications to license 26 new nuclear reactors in the US. Nine have been canceled or suspended indefinitely in the last 10 months, and 10 have been delayed 1-5 years. 

Why? Because, as almost always happens with nuclear plants, they end up being much more expensive than original plans project. In these cases, costs over-runs were triple that of estimates, while the price for natural gas declined, making them even less attractive.

And, importantly, energy efficiency programs combined with reduced energy demand because of the recession dramatically reduced the need for new power supplies.

Nuclear looks good to lots of people – and Republicans are demanding strong incentives for it in the Senate Climate Bill – but the history of nuclear is frought with significant cost over-runs, multiple delays and cancellations. It’s a fact that energy efficiency combined with renewable energy sources such as solar and wind are much faster to ramp up and much cheaper.

It makes absolutely no sense to burden taxpayers with huge subsidies for an industry with such a poor track record, which also presents perfect targets for terrorist attacks.

What’s the Allure of Nuclear?

November 9, 2009 - Posted by Christina Macpherson | 1, general | antinuclear, nuclear, nuclear costs, nuclear spin