The Carbon Value of Nuclear Power Plant Lifetime Extensions in the United States

• Published in: Nuclear technology Vol. 208; no. 5; pp. 775 - 793
• Main Authors: Kim, Son H., Taiwo, Temitope A., Dixon, Brent W.
• Format: Journal Article
• Language: English
• Published: La Grange Park Taylor & Francis 04.05.2022; American Nuclear Society; Informa UK Limited
• Subjects: climate change; lifetime extension; longevity; Nuclear power; retirement
• ISSN: 0029-5450; 1943-7471
• DOI: 10.1080/00295450.2021.1951554

Nuclear power is currently the single largest carbon-free source of electricity in the United States. The climate mitigation cost savings of the existing U.S. nuclear fleet is denominated in hundreds of billions of dollars [net present value (NPV)] based on an integrated assessment modeling of the U.S. energy system within a globally consistent framework. Lifetime extensions of the existing nuclear fleet from 40 years to 60 and 100 years resulted in $330 billion to $500 billion (all figures are in U.S. dollars) (NPV) of mitigation cost savings for the United States under a deep decarbonization scenario consistent with limiting global temperature change to 2°C. The addition of new nuclear deployments in the United States increased the total U.S. mitigation cost savings of the 2°C climate goal by up to $750 billion (NPV). Immediate actions are required in the United States and globally to achieve net-zero carbon emissions by mid-century, and once achieving net-zero emissions, they must remain at net-zero indefinitely. Lifetime extensions of the existing nuclear fleet, in the United States and globally, support urgent near-term emissions reduction goals. Additionally, the longevity of nuclear power technologies reduces the need for new capacity additions of all carbon-free electricity sources and supports long-term actions necessary to maintain net-zero emissions.