Odd Lots Jigar Shah on the Three Big Things Driving the Nuclear Energy Revival
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Sep 30, 2024 Jigar Shah, Director of the Loan Programs Office at the Department of Energy, discusses the revival of nuclear energy in the U.S., sparked by renewed interest and government incentives. He delves into the reopening of the Three Mile Island reactor, highlighting its historical significance and modern implications. The conversation covers the evolving dynamics of power purchase agreements, regulatory challenges, and the potential for new reactors at existing sites. With clean energy on the rise, Shah emphasizes the importance of skilled labor and innovative solutions to meet future energy demands.
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Nuclear Halt Causes
- Nuclear power plant construction halted in the US due to high inflation and cost overruns, not just safety concerns after Three Mile Island.
- Renewed interest now stems from load growth and presidential focus on infrastructure projects.
Economies of Scale
- Building multiple nuclear plants simultaneously is cheaper than building one-offs, similar to multifamily housing construction.
- Training specialized workers and consistent project flow contribute to efficiency and cost reduction.
IRA and Nuclear Revival
- The Inflation Reduction Act's technology-neutral tax credits make nuclear restarts financially attractive.
- This incentivizes companies like Constellation to reopen plants like Three Mile Island and secure long-term buyers like Microsoft.