In the last month, Westinghouse Electric Company has presented ambitious proposals to construct collections of as many as ten large nuclear reactors all over the United States. This momentous endeavor follows the country’s tumultuous recent history with nuclear energy. The announcement comes as the interim CEO of Westinghouse met with former President Donald Trump, who has emphasized the need to expand nuclear power in the U.S.
In the last thirty years the U.S. has finished only two new nuclear reactors. Both are Westinghouse AP1000 models, and they comprise Plant Vogtle in Waynesboro, Georgia. This meager expansion highlights the conundrums that have chronicled the nuclear industry, most notably with cost overruns and regulatory vastness. Today’s disaster-ridden Plant Vogtle project has experienced an $18 billion budget increase and seven years of delays. These problems were at the heart of Westinghouse’s bankruptcy. By mid-2018, the proud American brand had successfully built its way back out of bankruptcy. Today it’s owned by Cameco, a Canadian uranium pawnbroker, and Brookfield Asset Management.
It was in May that Trump did something extreme. He took the unusual step of issuing four executive orders to quadruple nuclear power generation in the U.S. by 2050. Among his directives was a requirement that ten nuclear plants be in construction by that year. He ordered a comprehensive overhaul of the Nuclear Regulatory Commission’s rules and guidelines, indicating a shift towards a more accommodating regulatory environment for nuclear projects.
Ten new reactors, as they are now proposed, would create an estimated $75 billion in economic impact nationwide. In particular, Pennsylvania would reap huge rewards, with an economic impact of $6 billion predicted from all the new projects. According to Sumner, nuclear energy is an opportunity to jumpstart declining local economies. … green jobs He points to the vast potential for jobs and infrastructure development connected to this energy source.
Though Westinghouse’s ambitious plans are a welcome sign of rejoining the nuclear renaissance, the firm and the industry at large still face significant headwinds based on before. The success of the proposed plants will likely depend on how effectively the regulatory framework is revised and whether public perception of nuclear energy can shift positively to support such initiatives.