You want to talk economics? Lets talk economics.

 

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RENEWABLES

 

1. Wind/Solar/Geo/Hydro gets a Production Tax Credit (PTC).

This PTC accounts for 87% of the federal finance support that Renewables get.

http://greyfalcon.net/energyresearch3.png

 

2. This PTC for Renewables was blocked year 2000, 2002, 2004, and for the first three months of 2008.

http://blogs.wsj.com/environmentalcapital/2008/01/28/renewing-renewable-tax-breaks

 

3. For 2009, the Renewable PTC was blocked 8 times so far by Republican Senators (Like John McCain)

http://mercurynews.com/opinion/ci_10199155

http://thinkprogress.org/2008/08/15/mccain-energy-aspen/

 

4. The PTC generally only gets approved for 1 year at a time, sometimes 2.  And has to get reapproved all over again the next year.  (Usually within weeks of the last possible moment to vote on it)

 

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NUCLEAR

 

1. Nuclear gets a pretty beefy amount of subsidies annually. Solar and Geothermal hardly get anything by comparison.

http://greyfalcon.net/subs.png

 

2. PTC secured for 8 years

http://snl.com/interactivex/article.aspx?CdId=A-73782

 

3. Federal Loan Program 3x larger than the entire rest of the electric power industry combined

http://greyfalcon.net/nuclearloans.png

 

4. A 2 billion dollar cost overrun fund for the first six plants.

http://snl.com/interactivex/article.aspx?CdId=A-73782

 

5. More than half of the DOE’s energy related R&D fund (for the past decade, and the past half century)

And it's still begging for more.

http://greyfalcon.net/energyresearch.png

http://citizen.org/cmep/energy_enviro_nuclear/nuclear_power_plants/articles.cfm?ID=13449

http://inl.gov/featurestories/2008-02-05.shtml

 

6. Hasn’t payed a thin dime to deal with high level waste since 1998 due to lawsuits that Yucca Mountain isn't open yet. Even though new cost estimates have found Yucca mountain costs over 3x what they previously thought.

http://nytimes.com/2008/02/17/us/17nuke.html

http://grist.org/news/2008/08/05/yucca/index.html

 

7. Profits budgeted for the plant decommissioning have Zero income tax.

http://citizen.org/cmep/energy_enviro_nuclear/nuclear_power_plants/nukewaste/fuelcycle/decom/articles.cfm?ID=8240

 

8. And I'm pretty sure some Federal Power Purchase Agreements, favorable transmission, and debt recovery/waiving in there too.

http://greyfalcon.net/parenti

http://nirs.org/factsheets/quickeconfact208.pdf

 

9. Both in the McCain-Lieberman and Lieberman-Warner Cap and Trade bills, McCain insisted on gigantic Half-Trillion dollar handouts the the Nuclear power industry. (It should also be noted, the McCain-Lieberman bill was a rather pathetically weak climate bill.  And that McCain might even be backing out of supporting Cap&Trade entirely)

http://gristmill.grist.org/story/2008/6/16/223415/517

http://gristmill.grist.org/story/2008/6/16/124515/466/

 

(This of course doesn't include the annual 9 billion for Nuclear security, 2 billion for administrative, and who knows how much for dealing with Iraq, Iran, North Korea, and loose nukes in the Former USSR.  $Trillions?)

 

 

____

 

After all that,

 

Nuclear power can't get a single dime of PRIVATE capital financing for new power plants.

(Slow return rate, High loan default risk, and Large investment increment, exactly what open competative markets hate.)

http://goliath.ecnext.com/coms2/gi_0199-5785236/Nuclear-power-a-hedge-against.html

http://manhattan-institute.org/html/eper_01.htm

http://nirs.org/factsheets/wallstreet.pdf

 

And it still costs orders of magnitude more than Baseload SolarThermal, and Baseload GeoThermal.

$6000-8000/kW for Nuclear

$2000-4000/kW for Baseload GeoThermal/SolarThermal

http://energycentral.com/centers/energybiz/ebi_detail.cfm?id=525

http://nirs.org/images/fplturkeypointcostchart.jpg

http://gristmill.grist.org/story/2007/11/12/13338/791#comment3

http://greyfalcon.net/solarthermal2

http://greyfalcon.net/energy2.png

http://greyfalcon.net/geothermal2

 

It should be no wonder that asside from the US, nearly all other nations in the world run their Nuclear programs as fullblown Federal Monopolies.

(France, UK, Russia, China, Sweden, South Korea, India, Germany, Iran to name a few.)

 

Nuclear power just can't survive in a competitive open market.