Is nuclear energy the answer to a sustainable future? Experts are divided
Nuclear power has been touted as a proven, safe way of producing clean energy, but why isn’t it more widely adopted?
Sean Gallup | Getty Images News | Getty Images
As the world pushes toward its goal of net-zero emissions by 2050, nuclear power has been touted as the way to bridge the energy gap — but some, like Greenpeace, have expressed skepticism, warning that it has “no place in a safe, clean, sustainable future.”
Nuclear energy is not only clean. It is reliable and overcomes the intermittent nature of renewables like wind, hydro and solar power.
“How do you provide cheap, reliable and pollution-free energy for a world of 8 billion people? Nuclear energy is really the only scalable version of that, renewables are not reliable,” Michael Shellenberger, founder of environmental organization Environmental Progress, told CNBC.
Governments have started to pour money into the sector after years of “treading water,” according to a report by Schroders on Aug. 8.
According to the report, there are 486 nuclear reactors either planned, proposed or under construction as of July, amounting to 65.9 billion watts of electric capacity – the highest amount of electric capacity under construction the industry has seen since 2015.
Only a few years ago, the International Energy Agency had warned that nuclear power was “at risk of future decline.” The report in 2019 said then that “nuclear power has begun to fade, with plants closing and little new investment made, just when the world requires more low-carbon electricity.”
Schroders noted that nuclear power is not only scalable, but much cleaner — emitting just 10-15 grams of CO2 equivalent per kilowatt hour. That’s competitive with both wind and solar energy and substantially better than coal and natural gas.
Nuclear power is also the second largest source of low carbon energy after hydro power, more than wind and solar combined, Schroders said.
Shellenberger’s view is that renewable energy is reaching the limits of what it can achieve in many countries. For example, hydroelectric power is not viable in all countries, and those that have them are “tapped out,” which means they cannot exploit any more land or water resources for that purpose.
Nuclear power is a great alternative, with “very small amounts of waste, easy to manage, never hurt anybody, very low cost when you build the same kind of plants over and over again,” he added.
That’s the reason why nations are having a second look at nuclear power, Shellenberger said. “It’s because renewables aren’t able to take us where we need to go. And countries want to be free of fossil fuels.”
Nuclear safety
Twelve years after Fukushima, we’re just getting better at operating these plants. They’re more efficient, they’re safer, we have better training.
Michael Shellenberger
Environmental Progress
In an interview with CNBC’s “Street Signs Asia” last week, Adam Fleck, director of research, ratings and ESG at Morningstar, said the social concern around nuclear power is “somewhat misunderstood.”
While the tragedies in Chernobyl and Fukushima cannot be forgotten, using nuclear is one of the safest ways to produce energy, even taking into consideration the need to store the nuclear waste.
“Many of those [storage facilities] are highly protected. They’re protected against earthquakes, tornadoes, you name it. But there’s a reason why there hasn’t been a significant tragedy or concern related to storage of nuclear waste.”
Shellenberger said: “Twelve years after Fukushima, we’re just getting better at operating these plants. They’re more efficient, they’re safer, we have better training.”
There have been new designs for nuclear power plants that have also enhanced safety, “but really what’s made nuclear safe has been the kind of the boring stuff, the stuff of the trainings and the routines and the best practices,” he told CNBC.
Too expensive, too slow
So, if nuclear has been a tested, proven and safe way of generating power, why isn’t it more widely adopted?
Fleck said it boils down to one main factor: cost.
The extra time that nuclear plants take to build has major implications for climate goals, as existing fossil-fueled plants continue to emit carbon dioxide while awaiting substitution.
Greenpeace
“I think the biggest issue of nuclear has actually been cost economics. It’s very costly to build a nuclear plant up front. There’s a lot of overruns, a lot of delays. And I think, for investors looking to put money to work in this space, they need to find players that have a strong track record of being able to build out that capacity.”
But not everyone is convinced.
A report by global campaigning network Greenpeace in March 2022 was of the position that besides the commonly held concern of nuclear safety, nuclear energy is too expensive and too slow to deploy compared to other renewables.
Greenpeace noted that a nuclear power plant takes about 10 years to build, adding “the extra time that nuclear plants take to build has major implications for climate goals, as existing fossil-fueled plants continue to emit carbon dioxide while awaiting substitution.”
Furthermore, it points out that uranium extraction, transport and processing are not free of greenhouse gas emissions either.
Greenpeace acknowledged that “all in all, nuclear power stations score comparable with wind and solar energy.” However, wind and solar can be implemented much faster and on a much bigger scale, making a faster impact on carbon emissions and the clean energy transition.
Nuclear power is a “distraction” from the “answer we need” — such as renewables and energy storage solutions to mitigate the unreliability from renewables, said Dave Sweeney, a nuclear analyst and nuclear-free campaigner with the Australian Conservation Foundation.
“That’s the way that we need to go, to keep the lights on and the Geiger counters down,” he told CNBC’s “Street Signs Asia” on Friday.
Tesla is starting to experience some consequences for misleading Full Self Driving customers – at least that’s the finding of one arbitration ruling that has Tesla refunding one customer $10,000 plus legal fees for failing to deliver on their promises. Find out more on today’s legally challenging episode of Quick Charge!
An arbitration “court” found that Tesla misled customers with its Full Self Driving product, and has now been forced to refund at least one person’s $10,000 payment (plus legal fees) for the not-quite autonomous driving software. France, too, is piling on claims of deceptive business practices – but there’s some good news for FSD fans! If you’re still willing to pay for it, Tesla will thrown in 0% financing on a brand new Cybertruck.
Check out the relevant links, below, to learn more.
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Toyota’s new electric SUV is a surprise hit in China. Starting at just $15,000, the Toyota bZ3X is already the top-selling joint venture brand EV.
The $15,000 Toyota bZ3X is the top-selling foreign EV
After launching the bZ3X in March, Toyota’s joint venture, GAC Toyota, claimed that orders were “so popular that the server crashed.” It apparently secured over 10,000 orders in the first hour.
In its second month on the market, the bZ3X was the top-selling foreign-owned vehicle in China, beating out the Volkswagen ID.3 and ID.4 Crozz, Nissan N7, and BMW i3.
According to the latest update, the electric SUV retained the title once again in June. Peng Baolin, General Manager of Sales at GAC-Toyota, revealed on social media that the “delivery volume of Bozhi 3X in June reached 6,030 units.”
GAC Toyota announced on Weibo that cumulative deliveries have now exceeded 20,000 units, setting a new record for the fastest joint venture electric SUV sales to achieve the feat.
The company also claimed that the bZ3X “has the highest sales of new energy vehicles” among joint venture brands right now.
The bZ3X is Toyota’s “first 100,000 yuan-level pure electric SUV.” It’s available in seven different trims, starting at 109,800 yuan, or about $15,000.
Two variants have an added LiDAR, making Toyota the first joint venture brand to offer it in China. The smart driving version starts at 149,800 yuan ($20,500). For 159,800 yuan ($22,000), you can upgrade to the range-topping “610 Max” trim.
Powered by a 67.92 kWh battery, the long-range model is rated with a CLTC range of up to 610 km (379 miles). The base “Air” trim features a 50.03 kWh battery, good for a 430 km (267 miles) range.
The bZ3X measures 4,645 mm in length, 1,885 mm in width, and 1,625 mm in height, or about the size of BYD’s popular Yuan Plus (sold overseas as the Atto 3).
Inside is a significant upgrade from most Toyota models we are used to seeing. It features a tech-focused interior with a 12.3″ infotainment screen and an 8.8″ driver display.
Toyota markets it as an affordable family SUV with “a mobile space that is as comfortable as home.” With all the seats folded, the interior offers nearly 10 feet (3 meters) of space.
It’s also powered by Momenta’s 5.0 smart driving system, offering advanced smart driving features such as Level 2 assisted driving, remote parking, and more.
Electrek’s Take
Although it may not seem like much with Chinese EV makers like Xiaomi securing nearly 300,000 orders for the YU7 SUV in an hour, the bZ3X is selling surprisingly well for a foreign brand vehicle.
Global automakers are struggling to keep pace in China with an influx of new low-cost domestic EVs and an intensifying price war. However, Japanese automakers, including Toyota, have been some of the hardest hit.
During GAC Toyota’s Tech Day event last month, the company announced partnerships with China’s leading tech companies, including Huawei, Xiaomi, and Momenta, as it seeks to regain market share.
Ahead of the event, the company posted on Weibo that “god-level allies are coming to help,” adding “car industry bigwigs are coming.
Through May, Toyota’s sales in China are up 7.7% from the same period last year, with 530,000 vehicles sold. Will Toyota continue gaining traction in the world’s largest EV market? With the bZ5 now rolling out and several new models on the way, Toyota is looking for a comeback.
Source: Sohu, GAC-Toyota
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