I often say that nuclear energy will play a key role in our clean energy future, and I believe that is true. However, it won’t happen automatically. There is no “divine right” behind nuclear energy. We like to admire the fascinating aspects of nuclear technology, but at the end of the day, it comes down to the money, and that’s where we stubbed our toe badly over the past two decades.
The “Nuclear Renaissance” foundered when advanced light water reactors turned out to be much more expensive than their marketing claimed, while alternatives—primarily natural gas—plummeted in price. We tend to point to impediments to nuclear technology, such as overly restrictive licensing requirements and adverse public opinion, but these matter only to the extent of their impact on the bottom line. Again, it comes down to the money.