We’re seeing more evidence of the world’s inevitable nuclear pivot. Let’s take a quick look at recent events, where California and Japan have embraced the low carbon-emitting source of energy to alleviate their respective energy crises.
California
Diablo Canyon plant is California’s largest source of electricity. It was set to close by 2025. A proposal was passed this morning to keep the plant open for another five years. One of the key measures of the bill was a $1.4 billion dollar loan to the plant, owner Pacific Gas and Electric.
We believe it was of high importance to the state to keep Diablo going, as the plant provides power support to the grid during evening hours when solar isn’t operating. The loss of the plant would have represented 2000 MW of clean energy generation that California would have been hard-pressed to replace with another source.
California has been struggling with record-breaking heat waves in recent years, with the golden state experiencing rolling blackouts in 2020. Nuclear power needs to have a major role – if the state will achieve its goal of getting 100 percent of its electricity from low carbon-emitting sources and renewables by 2045.
It appears that the U.S. will experience a strong nuclear resurgence, supported by a $6 billion dollar fund for the maintenance of existing plants as part of the Infrastructure Investment and Jobs Act by the Biden Administration. $2.477 billion was also earmarked for research and development of advanced nuclear reactor technology.
Japan
Last week, Prime Minister Fumio Kishida declared that Japan will look at extending the lifespan of their existing plants and develop next-generation reactors. The nation has kept most of its nuclear plants idle since a 2011 earthquake and tsunami caused a nuclear meltdown at the Fukushima Daiichi power plant. The mood in Japan is shifting toward nuclear power, as rising fuel costs and an early, hot summer has provoked a call for expedient solutions from the public.
Although Japan is the world’s third largest economy, they lack natural resources – their electricity-grid isn’t linked to other countries, and they are unable to increase domestic output.
We’ll continue to cover this with a larger article on the effectiveness of nuclear power – the energy source with the best potential, to fuel a world with increasing demands for our current model of prosperity and development.
