Washington Post | June 22. 2022
As energy security becomes a growing source of angst, it’s that clear large-scale, reliable use of renewable resources remain a distant reality in many countries. That’s allowed a more controversial — and almost perfect — alternative to make a comeback: nuclear. Trouble is, nobody wants a reactor in their backyard and the memories of past accidents remain a serious concern.
But with costs rising and few solutions at hand, both governments and companies are turning to nuclear power as a cleaner and cheaper source to help them reach their ambitious climate goals.
Even if a few years away, the development of, and investment in, nuclear energy sources and storage methods could ensure industrial operations highly dependent on pre-heating processes for raw materials and high temperatures are able to function as the world navigates its way through this energy crisis. With all the supply chain snarls over the past year, a power shortage is the last thing consumers and businesses need.
In Japan, the median levelized cost of energy(1) is far lower than utility scale solar and offshore wind. A recent survey showed that more than 80% of Japanese companies are in favor of restarting nuclear reactors to meet power needs. Electric utility Kansai Electric Power Co. is resuming work at one its idled reactors earlier than planned to manage energy demand. Bringing the Mihama No. 3 reactor online will lower need for liquefied natural gas, and the firm’s nuclear generation could grow 76% by 2023 as it brings back more reactors, according to Bloomberg Intelligence.
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Published on 7/26/2022 (239 days ago) Nuclear