438 private links
The REPOWER plan rests on four pillars:
1) Replacing all subsidies and mandates with a CO2 fee, which shall be set by Congress.
2) A grid of ratepayer owned coops which provide local power distribution and backup power.
3) Coops or consortia of coops contracting with merchant providers for the bulk of their power, or possibly building their own base load plants.
4) Unshackling nuclear from a regulatory system based on the Two Lies. Nuclear's remarkable energy density, combined with competition will drive the cost of nuclear down to its should-cost of less than 3 cents per kilowatt-hour.
The end result will be a largely nuclear grid, backed up by local fossil generation and supplemented in some areas by hydro, wind, or solar. //
The REPOWER plan has been criticized on the grounds it not only does not get rid of fossil fuel, it requires extensive expansion of fossil fuel capacity. The goal here is reducing CO2 emissions, not eliminating fossil fuel capacity. And we must reduce CO2 emissions in a way that uses the planet's resources efficiently. If we end up in a situation where we could have both less CO2 and less cost, we are being criminally stupid.
REPOWER will result in nuclear at a naive LCOE of less than 3 cents/kWh. That makes drastically reducing grid CO2 emissions so easy it's almost automatic. Figure 1 summarizes the results of a study of the German grid in which nuclear's overnight CAPEX was set at $2000/kW. (In the 1960's, we were building nuclear plants at less than $1000/kW in today's money.) //
Currently, the grid is producing about 25% of man-made CO2 emissions. If we cut that by a factor 20 with should-cost nuclear, we are down to about 1% of the total. At that point, we are far better off going after the other 99%, then expending resources on further reducing the 1%.
Takeaway
Unless we have cheap electricity, decarbonization in going nowhere. The Good News is we can have both very low grid emissions and cheap electricity. All we have to do is:
a) Put the ratepayer in charge of the grid.
b) Let the underwriters balance nuclear safety and cost.