Report finds closure of nuclear plants could leave carbon-free energy void
A new report by the International Energy Agency (IEA) says that even though more nuclear power facilities will be shut down, there is a growing need for nuclear energy to combat climate change.
The study finds that 25 percent of existing nuclear power capacity will be retired by 2025 while about two-thirds will be retired by 2040. The share of nuclear power in the United States will drop from about 20 percent to 8 percent by 2040.
However, it also finds that renewable energy is unlikely to fill the gap from the retiring nuclear units. It says new wind and solar systems would have to be installed at rates five times faster than what has been achieved over the past 20 years. This would increase electricity bills to account for the new infrastructure that would need to be built.
Thus, the report finds, the replacement technology would likely default to natural gas or coal, which potentially could increase carbon dioxide emissions by up to 4 billion metric tons per year.
The global share of low-carbon sources of electricity—wind, solar, nuclear, hydropower, and other renewables—has remained at 36 percent for several years. IEA believes that extending the lifetimes of existing nuclear reactors would be the cheaper alternative. However, it recognizes that there are challenges in extending the lifetimes of existing plants.
Currently, nuclear power generates more emissions-free electricity in the country than solar and wind energy generation combined, whose combined share is about 8 percent. However, unfavorable economics and politics are resulting in early retirements of reactors.
IEA is urging governments to stop early retirements of reactors and recommends authorizing lifetime extensions for as long as safely possible. IEA also recommends using financial incentives to nuclear as they do to wind and solar projects since both are emissions-free energy sources.
