Chu calls for direction on energy and climate
29 April 2010
America should follow China's lead in clean energy development, including a big push to support new nuclear, US energy secretary Steven Chu has testified while climate legislation stalls.
Chu said that with the extended authority to guarantee loans for new nuclear power plants, the USA could see "six to nine new reactors in the next few years." This counts the $8.33 billion in loan guarantees already awarded to the partners of the Vogtle project, the $10.17 billion remaining to be allocated and the $36 billion-worth that has been requested for FY2011.
"We need a policy that
matches the scale of
this problem and
that will guide
investments over a
generation: We need to
put a long-term cap on
carbon that ratchets
down over time. Only a
cap on carbon will give
industry the direction
and certainty it needs."
Steven Chu
US Energy Secretary
|
When testifying to the Senate Energy and Water Development Subcommittee yesterday, Chu noted the investment China has made in renewable energy and ultra high voltage transmission to enable its full exploitation. "They also currently have 20 nuclear power plants under construction and more construction starts are expected soon. China largely missed out on the IT revolution, but it is playing to win in the clean energy race."
"For the sake of our economy, our security, and our environment, America must develop decisive policies that will allow us not only to compete in this clean energy race, but to become the leader in providing clean energy technology to the world," said Chu.
His testimony came just days after political work on energy and climate policy was put aside in favour of other matters.
Chu advocated a three-pronged policy, starting with energy efficiency. Next would come building more clean energy capacity with renewables and nuclear while carbon capture could follow when ready. A fully modernized electricity grid would maximise the potential of renewables and feedback from car batteries and changes in transport are badly needed to lower emissions.
"We need to reinvigorate America's nuclear power industry," said Chu. Aside from the loan guarantee support to help business to borrow the money it needs to build new reactors, "We're also pursuing new technologies, such as small modular reactors, which could serve as drop-in replacements at utility sites too small to accommodate the large present-day nuclear reactors. We see the possibility of significant new American export opportunities."
However, Chu concluded, all this can only come under a stable policy regime that rewards low-carbon development: "We need a policy that matches the scale of this problem and that will guide investments over a generation: we need to put a long-term cap on carbon that ratchets down over time. Only a cap on carbon will give industry the direction and certainty it needs."
Researched and written
by World Nuclear News