37th MOST National Tripartite Alliance Conference

2024 MOST National Tripartite Alliance Conference

The Rise of Nuclear Energy: A New Era of Clean Power and Growth

The Rise of Nuclear Energy: A New Era of Clean Power and Growth

Hilary Lane, Director, Senior Director, Strategic Partnerships, Nuclear Energy Institute

Hilary Lane, Senior Director, Strategic Partnerships
Nuclear Energy Institute

Nuclear energy is emerging as a powerful force on Wall Street, signaling a new era for this long-overlooked industry, according to Hilary Lane, Senior Director, Strategic Partnerships, Nuclear Energy Institute. With 94 reactors spread across 53 plant sites in the United States, nuclear power currently contributes about 18% of the nation’s energy generation and nearly half of its clean electricity. The reliability of nuclear energy is unmatched, with a power capacity factor averaging over 90%, far surpassing the 25-30% efficiency of wind and solar energy.

“This is a huge part of our value proposition,” said Lane, emphasizing the efficiency and growth potential of nuclear energy.

The recent completion of Vogtle Units 3 & 4, the largest generating station in the country at 1,100 MW each, stands as a testament to the industry’s progress. The project, which employed 10,000 craft workers, marks a significant milestone.

Lane said that looking ahead, the future of nuclear energy is bright, with advanced nuclear technologies set to take off by 2030. Wall Street is particularly optimistic, expecting a tripling of nuclear energy capacity from 100 gigawatts to 300 gigawatts in the next 25 years. The growth potential is vast, with advanced nuclear offering a range of options, from micro-reactors that can fit on the back of a truck to large reactors that help to power cities.

Advanced nuclear technologies are not just about generating electricity; they also offer the potential to produce large quantities of hydrogen and provide process heat for industrial customers. Data centers, oil and gas sectors, and other industries are already showing interest in leveraging nuclear energy for their energy needs. This is especially true for artificial intelligence and data mining, which are “energy hungry,” according to Lane.

Projects like TerraPower in Kemmerer, Wyoming, owned by Bill Gates, are leading the way in converting retiring coal plants into nuclear facilities. This transition not only retains jobs but also increases employment. The pay for these jobs is also 30% higher than in coal-fired power plants.

In Texas, X-energy is pioneering the first nuclear industrial project next to a Dow Chemical plant in Seadrift, highlighting the potential for high-power steam applications in industrial settings. As these projects develop, the U.S. is positioning itself as a leader in advanced nuclear deployment, despite the global dominance of Russian and Chinese nuclear designs.

Federal recognition of nuclear’s value has grown, with recent legislation and tax credits providing financial incentives for the industry. State-level action is also on the rise, with bipartisan support for nuclear energy growing across the country. States are removing restrictive bans, forming working groups, and exploring risk-sharing models to facilitate the rapid expansion of nuclear energy.

View the presentation Fission Vision: A Look at What’s Next for Nuclear

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Events

REGISTRATION

ATRIUM

Sunday, August 25

9:00 AM - 3:00 PM

Monday, August 26

6:30 AM - 2:00 PM

Tuesday, August 27

6:30 AM - 9:30 AM

WELCOME RECEPTION

BAY TERRACE

Monday, August 26

6:00 PM - 9:00 PM

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Wednesday, August 28

1:30 PM Shotgun Start

Boxed lunches available at the hotel