Old Reactors v. New Renewables: The First Nuclear War of the 21st Century | GreenWorld

Within the past year, a bevy of independent, financial analysts (Lazard, Citi, Credit Suisse, McKinsey and Company, Sanford Bernstein, Morningstar) have heralded an economic revolution in the electricity sector. A quarter of a century of technological progress has led to the conclusion that over the course of the next decade a combination of efficiency, renewables and gas will meet the need for new resources and more importantly, render the antiquated baseload model largely obsolete.

The academic debate over whether we could get to an electricity system that relies entirely (99 percent) or mostly (80 percent) on renewables late in this century is largely irrelevant compared to the fact that over the next couple of decades we could see a rapid and substantial expansion of renewables (to say 30 percent of 40 percent), if the current economic forces are allowed to ply out and policies to advance the transformation of the electricity system are adopted. 

Political revolutions tend to follow economic revolutions, which is where we stand in the electricity sector today. The dominant incumbents, particularly nuclear utilities, have recognized that they face an existential threat and they have launched a campaign to eliminate it. Utilities, which loudly announced the arrival of a “nuclear renaissance” less than a decade ago, are desperate to save their fleet of aging reactors from early retirement and “stay relevant to the game going forward” (as the CEO of Exelon, the nation’s largest nuclear utility put it) because they cannot compete at the margin with renewables or gas...

more: Old Reactors v. New Renewables: The First Nuclear War of the 21st Century | GreenWorld

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