Nuclear energy receives more funding from government and financial institutions because it is less risky than investing in renewable energy sources. When governments and financial institutions give loans they must consider the risk of failure and rate of success. Nuclear energy has already shown success at generating electricity in a highly efficient manner and it has proven it can do so with very few greenhouse gas emissions. While the industry can be prone to devastating accidents it is still considered a safe and reliable manner to produce electricity. In the short term it’s simpler to over look safety concerns and turn to nuclear as the clean energy supplier that is in such great demand. Renewable energy won’t stand a chance of competing until a reliable and fast method is developed.
Solar and wind power are both a great opportunity for entrepreneurs to develop. The two largest hurdles towards their development are their reliance on weather and poor storage capacity. The development of more efficient capture devices placed in strategic areas, such as the great plains for wind power and the deserts of the southwest for solar, and greater capacity storage devices could revolutionize both industries.
Hi Laura. I agree with you that nuclear energy has demonstrated success as a base load resource — for reliability, efficiency and low-emissions. I was struck by the comments in the PBS News Hour video in Lesson 2 that said the U.S. hadn’t approved a nuclear plant since 1978. I also ran across a statistic today that indicated that subsidies existed for nuclear plants when they were being constructed, but I’m curious if they exist today. I understand the one nuclear plant being constructed by The Southern Company has about $8 billion in federal government loan guarantees and that they may have received Production Tax Credits (because it is new construction) but I am not aware of any existing subsidies for nuclear. I guess I had never thought about it since I’m a “hydro girl” but I can tell you it is now driving me crazy! So, are you aware of any current subsidies or incentives for nuclear?
Hi Christine,
I’m not aware of any current subsides or incentives for nuclear energy. After three mile island and Chernobyl, approving more nuclear power plants was probably a very scary idea indeed. Nuclear is a double edged sword for me. The risk of meltdown and radiation poisoning are scary but the short term fix of clean and reliable energy is pretty enticing.