Market Innovations Make Nuclear An Energy Crisis Solution By Roy Mathews

https://www.realclearenergy.org/articles/2022/03/22/market_innovations_make_nuclear_an_energy_crisis_solution_823059.html

One of the few positive takeaways from the war in Ukraine is the long overdue reconciliation of people’s overblown fear of nuclear power and the world’s need for sustainable clean energy. The current energy crisis rocking the U.S. has seen pipelines canceled and prices rising at the pump, with electric vehicles being touted as the answer. Fears of another Chernobyl have long dogged the nuclear industry and limited its appeal.

But, as they say, needs must.

The stigma of nuclear power being too prone to human error to be a viable and safe energy source may be headed to the dustbin of history. European countries that have recently moved away from nuclear power are starting to realize that dependence on Russian fossil fuels is a problem that perhaps only nuclear power can abate. Take Germany, for example: With Russia as its largest supplier of crude oil, the country has had to reconsider a decision that would shut down half of its nuclear plants this year.

As more countries wake up to the energy crisis we are currently living through and realize that nuclear power can supply clean, constant, and robust energy, new investment and energy security will surely follow.

The largest barrier to widespread adoption of nuclear energy in the U.S. has been safety concerns, with highly publicized incidents like Three Mile Island and Fukushima leading many to reject nuclear energy wholesale. This is premature, especially when you consider that in truth there have never been any radiation-related health problems linked to U.S. nuclear facilities — not one! Meanwhile, advancements in nuclear energy add new viability and cooperative opportunities with renewables like wind and solar.

Innovations in the nuclear energy sector have overcome two crucial safety issues: the potential for steam to build up inside a reactor and cause an explosion, and the substantial radioactive waste that is produced from the nuclear fission process.

A groundbreaking type of fast neutron reactors called Natrium reactors have the potential to solve the steam problem. Steam buildup occurs when cooling water inside the reactor cannot reach the reactor core to carry the heat produced by the radioactive material elsewhere. Instead of using water as a cooling agent, Natrium reactors use liquid sodium, which is able to absorb more heat than water, thus significantly reducing steam buildup inside a reactor. This drastically reduces the chance of accidents.

A U.S.-based company TerraPower has also developed a natrium reactor that does not rely on outside energy for its own safety systems. This was the problem at Fukushima, where an earthquake and a subsequent tsunami cut off power from backup generators and caused a meltdown. To prevent this, TerraPower’s natrium reactor relies on the heated air from the reactor’s natural processes to power its own safety system. A single pound of uranium can generate 154,000 kilowatt hours (kWh) of energy, which is akin to saving 12,726 gallons of gasoline a year.

Natrium reactors also improve the problem of nuclear waste, integrating advanced computing and materials to reduce their overall waste output by two-thirds. In addition to the natrium reactor’s efficiency, the reactors have the potential to reuse the waste from other, less efficient reactors to extract even more energy.

In addition to producing more energy with less waste, these reactors also have the capability to store energy for longer time periods. This could be a boon and a boost to traditional renewable energy industries like wind and solar, which currently lack high energy storage capacities. Storing the heat generated from the nuclear fission process in mixtures of molten salt stretches the storage time of nuclear energy to almost double that of a lithium-ion battery. This capability could be used to supplement the renewable energy grid during times when the sun doesn’t shine and the wind doesn’t blow.

Market innovations have already led to large reductions in emissions of greenhouse gasses. Now it’s time to let the market respond to global demand for greater energy supplies.

Innovations in nuclear energy like the natrium reactor have the potential to provide a much-needed, stable source of energy — all while making renewables relevant for utility-scale energy needs.

Despite massive paranoia about nuclear energy overall, it remains the safest form of energy production, with advancements that will improve safety even further. The three most widely-publicized nuclear accidents combined — Chernobyl, Three Mile Island, and Fukushima — had a total 32 fatalities in all (31, zero, and one, respectively). There have been significant innovations in safety and efficiency since these disasters occured.

Whether you care about combating climate change, further securing American energy independence, or reducing energy costs for American families, these nuclear innovations can address the current energy crisis plaguing both the U.S. and Europe.

Roy Mathews is a Public Policy Associate at the Alliance for Innovation and Infrastructure (Aii) in Arlington, VA. He has previously been published in RealClearWorld, The Daily Signal, and The National Interest. 

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