To say that nuclear energy has an image problem would be putting it nicely. Despite owning one of the safest track records of all sources of energy, nuclear power has failed to persuade public opinion with the ease of a fictional storyline from Hollywood. The dangerous misconceptions not only hinder the clean and powerful fuel’s advancement but also run the risk of increasing the world’s dependence on fossil fuels as governments rethink their nuclear programs.
Although next month marks two years since the Fukushima nuclear crisis, many wounds have yet to heal. Why can’t the world have an intellectual discussion on the future of nuclear energy without fearing radioactive zombies? Therefore, I have joined forces with Argonne National Laboratory in an effort to demystify the controversial energy source. Here are some of the most amazing facts and statistics that show we have nothing to fear, but much to gain.
2. According to the U.S. Department of Energy, nuclear power plants avoided 613 million metric tons of CO2 emissions in 2011. That is the same total produced by 118 million cars, which is nearly the same number of cars in the United States.
3. Bill Gates believes that the United States holds enough spent nuclear fuel — currently defined as waste — to power the country for more than 100 years. He has backed TerraPower, which is developing the technology to make it happen.
4. At last count in 2002, the United States had 46,268 metric tons of spent fuel stored within its borders.
5. TerraPower’s traveling wave reactor, or TWR, can run for 40 years before it needs to be refueled. The average traditional nuclear facility needs to be refueled every 18 months.
6. Last one for TerraPower: The company estimates that its TWR can save more than $2 billion in fuel costs over the life of a plant when compared with a traditional facility.
7. Uranium is 40 times as abundant as silver.
8. Despite its apparent abundance, it takes 100 metric tons of uranium ore to produce 1 metric ton of natural uranium for enrichment.
9. Exelon Corporation (NYSE:EXC) generates 19,000 MW of nuclear energy each year, which represents 54% of its total annual capacity. Natural gas makes up just 28%.
10. To put that number in perspective, the entire country of India is targeting only 14,600 MW of nuclear energy by 2020.
11. At 30,350 MW, the total nuclear capacity of American energy providers Exelon and Duke Energy Corp (NYSE:DUK) is greater than the total output of every country except France, which owns more than 63,000 MW.
12. France generates 78% of its electricity from nuclear energy. The United States, which produces more than 101,409 MW of nuclear energy each year from just 104 reactors, generates only 19% of its total electricity from nuclear power.
13. Technological upgrades alone have added 3,500 MW of nuclear capacity to the domestic grid since 2000.
14. A total of 14 countries generate at least one-fifth of their total electricity from nuclear energy.
15. Roughly 437 nuclear reactors scattered around the globe generated 392,000 MW of electricity in 2012, or 12.3% of the world’s total consumption.
16. Cameco Corporation (USA) (NYSE:CCJ), the world’s leading uranium mining company, estimates that total annual world nuclear capacity will reach 510,000 MW by 2022. Of that total, 64,000 MW are under construction today.
17. How much uranium does Cameco produce? In 2012 the company produced 23.3 million pounds of triuranium octoxide. Its mines make up 16% of world production and hold 435 million pounds of proven and probable reserves.
18. It can take the U.S. Nuclear Regulatory Commission, or NRC, 30 to 60 months to review an application for a new reactor in the United States. There are currently applications pending for 28 new reactors.
19. One year ago this week, the NRC approved the construction of two new reactors by The Southern Company (NYSE:SO) — the first in more than 30 years. The last new construction permit was granted in 1978 to Progress Energy, now part of Duke Energy.
