William Fletcher and Craig Smith write about the hurdles for a nuclear power revival.
- While there are several companies and entrepreneurs that are making innovative nuclear power plant designs and concepts, the industry is hindered by outdated regulations and financial burdens.
- The Nuclear Regulatory Commission (NRC) licensing process is slow and expensive and as a result only two new reactors have been approved in the last 30 years.
- Financing a new power plant is another hurdle, as the upfront costs are massive and it takes a few decades to see a return on the investment.
- While these are hard issues to address, modernizing regulations could go a long way in reducing the costs associated with nuclear power.
Read the full article here.