September 21, 2022

SIMPLE ECONOMICS:

DOE Report Finds Hundreds of Retiring Coal Plant Sites Could Convert to Nuclear (Office of Nuclear Energy DOE, 9/13/22)

The U.S. Department of Energy (DOE) today released a report showing that hundreds of U.S. coal power plant sites could convert to nuclear power plant sites, adding new jobs, increasing economic benefit, and significantly improving environmental conditions. This coal-to-nuclear transition could add a substantial amount of clean electricity to the grid, helping the U.S. reach its net-zero emissions goals by 2050. 

The study investigated the benefits and challenges of converting retiring coal plant sites into nuclear plant sites. After screening recently retired and active coal plant sites, the study team identified 157 retired coal plant sites and 237 operating coal plant sites as potential candidates for a coal-to-nuclear transition. Of these sites, the team found that 80% are good candidates to host advanced reactors smaller than the gigawatt scale.  

A coal to nuclear transition could significantly improve air quality in communities around the country. The case study found that greenhouse gas emissions in a region could fall by 86% when nuclear power plants replace large coal plants, which is equivalent to taking more than 500,000 gasoline-powered passenger vehicles off the roads.  

It could also increase employment and economic activity within those communities. When a large coal plant is replaced by a nuclear power plant of equivalent size, the study found that jobs in the region could increase by more than 650 permanent positions. Based the case study in the report, long-term job impacts could lead to additional annual economic activity of $275 million, implying an increase of 92% tax revenue for the local county when compared to the operating coal power. 

"This is an important opportunity to help communities around the country preserve jobs, increase tax revenue, and improve air quality," said Assistant Secretary for Nuclear Energy Dr. Kathryn Huff. "As we move to a clean energy future, we need to deliver place-based solutions and ensure an equitable energy transition that does not leave communities behind." 

The reuse of coal infrastructure for advanced nuclear reactors could also reduce costs for developing new nuclear technology, saving from 15% to 35% in construction costs. Coal-to-nuclear transitions could save millions of dollars by reusing the coal plant's electrical equipment (e.g., transmission lines, switchyards), cooling ponds or towers, and civil infrastructure such as roads and office buildings.  

Posted by at September 21, 2022 12:00 AM

  

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