Energy
Friday, September 6th, 2024 3:48 pm EDT
Key Points
- Plant Vogtle’s New Reactors: The addition of unit 3 and unit 4 at Plant Vogtle, Georgia, has made it the largest source of clean energy in the U.S. These are the first new reactors built from scratch and connected to the grid in over 30 years, with the capability to power over a million homes and businesses.
- Cost and Delays: The development of these reactors faced significant challenges, leading to a cost increase from the initial $14 billion budget to over $28 billion and a seven-year delay. Issues included the Fukushima tsunami, contractor bankruptcy, and the COVID-19 pandemic.
- Broader Context and Challenges: The U.S., with 54 nuclear power plants and 94 reactors, is the world’s largest nuclear power producer. Despite this, U.S. reactors are aging, with an average age of 42 years, making replacement and new construction complex and costly. The Vogtle project raises questions about whether it should be seen as a model for future nuclear projects or a cautionary tale.
Plant Vogtle in Waynesboro, Georgia, has become the largest source of clean energy in the U.S. following the addition of two new reactors, according to Georgia Power. The unit 4 reactor at Vogtle began commercial operations in April, and unit 3 went online last year. These reactors, the first to be built from scratch and connected to the grid in over thirty years, have the capacity to power over a million homes and businesses. However, the journey to bring these reactors online was fraught with challenges and significant costs. Initially budgeted at $14 billion, the project’s costs more than doubled, and the completion was delayed by seven years.
Chris Womack, CEO of Southern Co., the utility’s parent company, acknowledged the difficulties faced, including unforeseen events like the Fukushima tsunami, contractor bankruptcies, and the impact of COVID-19. Despite these hurdles, the Vogtle plant is now playing a crucial role in meeting the growing electricity demand, which increased by about 2.2% last year, driven partly by the rise of data centers and artificial intelligence.
The U.S. has a total of 54 operating nuclear power plants with 94 reactors, making it the world’s largest producer of nuclear power and accounting for 30% of global nuclear electricity, according to the World Nuclear Association. However, the average age of U.S. reactors is 42 years, presenting a complex challenge for replacing them. The difficulties faced during the Vogtle project raise questions about whether it should serve as a model for future nuclear projects or as a cautionary tale. The experience highlights both the potential benefits of nuclear energy in meeting electricity demands and the substantial obstacles in building new reactors.
For the full original article on CNBC, please click here: https://www.cnbc.com/2024/09/06/why-its-so-difficult-to-build-nuclear-power-plants-in-the-us.html
