Prepare yourself for loud celebrations from the nuclear industry, heaping praise on New York Governor Andrew Cuomo and calling for other states to emulate the Empire State with lucrative incentives to insulate the nuclear industry from competition and to postpone closures of uneconomical reactors.
We hate to throw water on the parade, but the move actually proves what a bad idea it is to throw subsidies at nuclear power. Let’s jump to the punch line, then we can fill in the blanks: New York just committed to spending twice as much money propping up old nuclear reactors than on new renewable energy, to get 2-3 times less energy from nuclear as renewables in the end.
Spend more, get less electricity, get more carbon emissions–and get a lot of radioactive waste.
Basically all of the $7.6 billion in nuclear subsidies will leave New Yorkers’ bank accounts and go to companies headquartered in Chicago and Paris: Exelon and Electricite de France, which jointly own the company that will own all of the bailed-out reactors. The money will produce not one more job for unemployed New Yorkers, put not one more solar panel on a roof, provide not one more dollar of economic development. And by soaking up so much of New Yorkers’ energy dollars, the subsidies could prevent them from investing in energy efficiency and renewables...
of the atom
save man's mode
thus we drift towards
He also said,
"Nuclear power is a hell of a way
to boil water!"