Latest news with #S.C.NuclearAdvisoryCouncil
Yahoo
26-04-2025
- Business
- Yahoo
New nuclear power plants don't make sense for South Carolina
Nuclear reactor assemblies pictured Sept. 12, 2024, in storage at V.C. Summer nuclear site near Fairfield. (Provided by S.C. Nuclear Advisory Council) Gov. Henry McMaster called for a 'nuclear power renaissance' in his recent State of the State address. Our governor urged lawmakers to support a revival of our state's failed nuclear plant. That's a mistake given the inconvenient facts surrounding our state's recent history with the V.C. Summer nuclear debacle. I researched the future prospects for new nuclear power projects in the United States. While small modular reactors, or SMRs, have long-term potential for U.S. nuclear power, SMR's are still on the drawing board. There currently are no new nuclear plants under construction in the U.S. The Deloitte Research Center for Energy & Industrials did an analysis as to whether new nuclear power plants could meet the projected need for future energy generation. The extensive analysis presumed robust deployment for the design, manufacture and projected costs of new nuclear power over the next decade. Even then, nuclear power could only meet 10% of the projected increase just for new data center demand by 2035. The National Electrical Manufacturers Association has projected that data center growth coupled with transportation electrification will drive a 50% increase in U.S. electricity demand through 2050. The industry points to the reliability of nuclear power along with its lower emissions. But what about the construction delays and the resulting cost overruns? And what about the creation of more radioactive waste? High-level radioactive waste is currently being stored on site, but that waste will remain radioactive for thousands of years. The U.S. doesn't have a long-term repository for high-level radioactive waste. Let's look at Georgia's recent experience with their Vogtle nuclear power plant. Vogtle was approved in 2009. Yet the project wasn't completed until 2024, seven years behind schedule. To make matters worse, Vogtle's projected costs ballooned from its initial estimate of $14 billion to roughly $35 billion. As a result, Georgia's ratepayers have seen six rate increases since 2023. Do we want rapid increases in our electric bills in South Carolina? When it comes to building new nuclear power plants, the real problem comes down to excessive costs. Nuclear construction costs range from $6,417 per kilowatt to $12,681 per kW. Compare that to $1,290 per kW for new gas-fired plants. This vast difference in construction costs will result in much higher electric bills. S.C. ratepayers would be on the hook for all nuclear construction costs. But it doesn't end there. Add the costs of nuclear fuel, ongoing maintenance, and the storage of the nuclear waste, and the costs are astronomical. S.C. ratepayers are already paying for the failed V.C. Summer nuclear plant after it was abandoned in 2017. That failed nuclear project ultimately bankrupted SCE&G and Westinghouse. Several utility executives were convicted and served prison or home detention sentences for their role in covering up those cost overruns. Remember too that those same utility executives hid the independent Bechtel report from the Public Service Commission and the public. Why? So they could continue to get their millions in cash bonuses by covering up their crimes. If not for a mid-level whistleblower, this cover up would have cost our residents, small businesses and large industries even more damage. Santee Cooper, our state-owned utility, is soliciting proposals to see if others might be interested in buying the partially built nuclear reactors. It seems inconceivable that any entity would want to invest in that failed project, though many companies have shown initial interest. Formal proposals are due May 5. The experts interviewed by Utility Dive wouldn't hazard a guess about how much it would cost to complete V.C. Summer Units 2 and 3. Santee Cooper and Dominion Energy have already made it clear that they have no interest in trying to revive V.C. Summer, even though they still own the site. When all is said and done, neither should South Carolina. We would be foolish to risk repeating those same mistakes again. The bottom line: New nuclear power plants are not a viable option. There's too much risk. Our state's future power generation needs are best met with a mix of existing nuclear plants, existing gas plants, new solar coupled with battery storage, hydro dams and pump storage. Currently, solar panels with storage are the lowest cost option for our state's electricity generation. During an earnings call Wednesday, NextEra Energy CEO John Ketchum said the U.S. must remain realistic and pragmatic about its energy policies. 'We need to be practical about when technologies will be available at scale and how much they'll cost when they show up — all of which factors into how much Americans pay on their electric bill each month,' he said. Low-cost renewables and battery storage should be used as a 'critical bridge,' he said. 'We cannot isolate ourselves to just a couple of technologies, like gas and nuclear, which are much more expensive than they've ever been and take far longer to build.' Small modular nuclear reactors are 'still 10 years away at scale in the best of scenarios,' he added. South Carolina should think twice about building more nuclear power plants. Nuclear power plants are just too expensive to build. And the small modular nuclear reactors are a decade away from being a viable alternative.
Yahoo
28-03-2025
- Business
- Yahoo
SC's energy future: A case for expanding nuclear power to meet demand
Nuclear reactor assemblies pictured Sept. 12, 2024, in storage at V.C. Summer nuclear site near Fairfield. (Provided by S.C. Nuclear Advisory Council) South Carolina has made considerable progress in strengthening its energy and transmission infrastructure, but much more remains to be done to secure a reliable, cost-effective and independent energy future. A critical piece of this effort lies in expanding nuclear power, which offers the unique combination of low-carbon emissions, sustainability, 24/7 reliability, and long-term affordability. This is why I fully support an 'all-of-the-above' approach to energy, including the revitalization of the unfinished reactors at the V.C. Summer Nuclear Station, and commend the South Carolina's state and congressional lawmakers for taking decisive steps to advance nuclear energy in our state. Efforts to expand South Carolina's clean energy portfolio have already incentivized energy-efficient practices, expanding nuclear capabilities, and attracted private-sector investment in emerging renewable energy. Tax credits such as the Advanced Manufacturing Production Credit and the Advanced Energy Production Credit fuel business growth in the Palmetto State. However, more work remains as our state's energy demands are growing rapidly due to population increases and economic expansion. State leaders and utility officials have been increasingly focused on the growth in demand for energy. Our major utilities are already experiencing unprecedented load demand growth. South Carolina's population growth and accelerating economic development have caused utility planners to drastically increase their load growth forecasts, with electricity demand expected to surge over the next 15 years. This demand growth will require an 'all-of-the-above' increase in electricity generation capacity, including natural gas, renewables, and nuclear. It will also require a more streamlined approach to the planning and construction of new energy generation, regardless of the energy source. To meet these challenges, South Carolina's policymakers are now considering legislation that strengthens our energy sector, streamlines permitting and accelerates energy generation capacity. Last month, the South Carolina House of Representatives passed H.3309, the South Carolina Energy Security Act, a bill prioritizing nuclear expansion as an energy source, alongside natural gas, hydrogen and renewables. The state Senate will next debate this measure. The Senate can develop legislation that balances reasonable permitting reforms with environmental protections, ensures appropriate regulatory oversight of the utilities while accelerating new energy generation, and prioritizes an 'all-of-the-above' energy strategy that includes the expansion of nuclear energy. Reviving the V.C. Summer nuclear project represents one of the most promising opportunities to meet South Carolina's energy needs. Sen. Lindsey Graham recently affirmed his support for nuclear power, stating, 'We cannot give up on nuclear power … South Carolina needs as much power as we can get.' His leadership and advocacy for small modular reactors (SMRs) highlight the potential of modern nuclear technology to supplement traditional reactors and provide scalable, efficient energy solutions for our state. As Congress sets its legislative agenda, Graham and South Carolina's delegation can prioritize continued support for policies that modernize the state's energy infrastructure, revitalize manufacturing, and strengthen national security. Sen. Tim Scott has also championed efforts to ensure nuclear energy can be deployed more efficiently. His recently introduced Nuclear Permitting Reform bill takes a commonsense approach to cutting through the bureaucratic red tape that slows down nuclear project approvals. By reducing unnecessary delays and modernizing regulations, this bill would pave the way for projects like V.C. Summer's revival and the expansion of next-generation nuclear technology in South Carolina. Beyond state efforts, federal investments are playing a crucial role in advancing energy security. The Inflation Reduction Act, passed in 2022, has provided South Carolina homes and businesses with key tax credits and incentives that help increase energy efficiency, promote solar energy, clean hydrogen and nuclear power production, and support offshore wind development. Funding from that law has also fueled a resurgence in American manufacturing, leading to the announcement of 29 South Carolina projects promising to bring 16,500 jobs to the state. Leveraging these resources, alongside nuclear expansion, will ensure South Carolina remains a leader in clean energy innovation. Federal and state collaboration is crucial to ensuring South Carolina remains at the forefront of energy innovation. The leadership shown by our congressional delegation and proactive efforts from our state Legislature put us in a strong position to secure our energy future. However, the job is not yet done. The state needs energy legislation that includes strong provisions for nuclear expansion and balanced permitting reform.
