It is true, some renewable energy projects are failing to receive the same degree of support from the financial community and the government that nuclear does. In my opinion, I believe this is because we can generate much more electricity from nuclear than we can from any other renewable energy resource. With higher capital costs, it is much more expensive to build a nuclear facility and financial backing essential for this industry. With nuclear power generation, it can be built anywhere and relies on two of the most abundant substances of Earth, Water and Uranium, which are not hard to get. While as for other renewables like solar and wind, they rely on radiation and air currents which are best in only specific locations. We have learned in this lesson that no new nuclear power facilities have been built for over 35 years. Yet nuclear power still generates 19% of the nation’s electricity while other renewables generate 10% according to the U.S. Energy Information Administration. I can also imagine a lot of government intervention in and lobbying from this industry which could also have an effect on this degree of support.
Some niche opportunities I see for entrepreneurs in the global development of renewable energy sources are hydro-kinetic energy, or off shore wind generation, expanded bio-gas generation technology around the world to agricultural areas, and in the near future I see a new renewable source of energy using infrared emissions from the sun. I have included a link about that down below:
http://www.seas.harvard.edu/news/2014/03/infrared-new-renewable-energy-source
Bibliography from EIA:
http://www.eia.gov/tools/faqs/faq.cfm?id=92&t=4
http://www.eia.gov/tools/faqs/faq.cfm?id=104&t=3
Great post, I like that you also touched of the restrictions of other renewable resources (I talked cost, you talked location :)) but also the influence and involvement of the government. Nuclear is much more debated because of it’s health and safety issues if a malfunction were to happen, but we obviously know how beneficial it is when it’s in good working condition.
I read somewhere that this new power plant was approved with the idea that since the government is financially supporting part of it that their investment in the long run will make the government a good amount of money (to maybe go towards the national debt, who knows). 🙂 Thanks for sharing!
I had never thought much about access to Uranium. I had no idea it was as common a metal as it is! It was a good idea to point out the differences in where renewables and nuclear energy options are viable. I don’t think I even mentioned the fact that renewable energy sources are location specific. I just referenced the quantitative advantages of nuclear. Nice job!
– Marielle
http://engr312.dutton.psu.edu/2014/09/03/marielle-martin-lesson-2/