Michigan Nuclear Feasibility Study finds source could help clean energy transition, but with major caveats
Although the United States has gone hot and cold with nuclear power over the years, a new Nuclear Feasibility Study presented to the Michigan Public Service Commission (MPSC) this week touted its potential capabilities for the clean energy transition, but with significant concerns.
Costs, environmental concerns and public worries remain surrounding nuclear, even if it could help Michigan achieve its goal of 100 percent clean energy generation by 2040. Enercon Services East, PC – an outside consulting firm tapped to study the feasibility of nuclear power in Michigan – found that new plans come with high upfront capital costs, long project development timelines due to regulatory obligations and more, as well as lingering public concerns about the danger of such plants.
Further, the green image of these plants hasn’t been helped by the fact that there remains to this day no national consensus on how to permanently dispose of spent nuclear waste.
It wasn’t all bad, though. The report found that nuclear plants require relatively small amounts of land for the significant amount of reliable energy they can provide. That energy also comes emissions-free. Currently, three nuclear units operate at two Michigan power plants, with a third seeking regulatory approval under Holtec International to reinstate its operating license and procure federal funding to restart.
In a hypothetical scenario proposed by the report, a new nuclear power plant also brought in an estimated $3.6 billion to $3.7 billion in economic benefits for its area, along with hundreds of long term jobs, while reducing CO2 emissions by approximately 365,000 tons of CO2 per year, as well as other gasses. Even when considering the upfront costs, the report noted that costs could potentially be recouped through long-term economic impacts and increased taxes – although the latter would likely be unpopular.
The report was ordered by the Michigan Legislature, and by Gov. Gretchen Whitmer.
