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Spent Fuel Disposal Research and development for spent fuel disposal should be a priority considering its extended radioactive life. There is no long-term plan to dispose of spent fuel. A means of disposal, or at least reducing the half-life of spent fuel, should be investigated. At The University of Texas at Austin, physicists have developed a fusion-fission hybrid reactor that could burn nuclear waste, thus reducing the need for geologic storage sites.56 They are seeking funding to build a prototype. Research funding for such emerging technologies should be made available. 2. Continue government guaranteed loans for new advanced nuclear power plants. The government should continue guaranteed loans for new advanced nuclear power plants because high capital costs and lengthy licensing and construction periods prohibit the private development of new nuclear power capacity. Capital costs and infrastructure for nuclear fission power plants are currently estimated at $3 billion to $12 billion, depending on type and size. The EIA estimates a 6-10 year lead time for new nuclear reactors (4 years to finish the licensing application, 1-2 years for NRC licensing approval, and 3-4 years to build the power plant).57 The lengthy application and licensing process increases costs and delays potential power for the nation. Private industry will not pursue projects with such high capital costs without government guaranteed loans, and demand for government guaranteed loans for nuclear expansions is high. There is $18.5 billion in loan guarantees available under the June 30, 2008, Nuclear Power Facilities solicitation,58 but the nuclear industry has petitioned for $122 billion in guaranteed loans.59 Since 2007, the NRC has received applications for 17 new nuclear reactor operating licenses covering 28 new reactors and expects to receive a total of 22 applications for 33 new reactors by the end of 2010.60 With the carbon tax, demand for clean nuclear energy will increase even more rapidly. The federal government should continue guaranteeing up to 80 percent of project costs for new reactors to encourage new nuclear power plant construction and operation. In particular, the United States should encourage government loans for advanced fuel technologies in order to minimize spent fuel and costs. 3. Continue nuclear production tax credits. Under the EPAct 2005, a qualifying advanced nuclear power plant can claim a credit of $0.018 per kWh for the first 8 years of operation for electricity produced. This credit applies up to 6,000 MW and is comparable to the tax credit granted to the wind and solar energy industry.61 Tax credits to encourage nuclear use should be continued and expanded to new plants. 183PDF Image | Shaping Energy Technology Transition
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