Ramanan Krishnamoorti, Chief Energy Officer, Interim Vice Chancellor for Research & Technology Transfer, Interim Vice President for Research & Technology Transfer and S. Radhakrishnan, Managing Director, UH Energy
The recent financial crisis facing Toshiba due to construction cost overruns at the newest nuclear power plants in the U.S. brought home the message: the nuclear power industry in the U. S. must change or become increasingly irrelevant.
This latest financial crisis strikes an industry that already has undergone a radical slowdown since the Fukushima disaster in 2011, which followed stricter regulations and safety concerns among the public after the Chernobyl disaster in 1985 and the partial meltdown at Three Mile Island in 1979. The increased cost of building traditional high pressure light water reactors comes at a time when natural gas prices have plummeted and grid-scale solar and wind are becoming price competitive. So with all the financial and environmental concerns – including the very real issue of where and how we should store spent nuclear rods – why should the world even want nuclear power?
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