Our State of Energy
February 22, 2010
With worldwide electricity demand expected to double in the next 20 years, the need for safe, clean and reliable energy sources has never been greater. Nuclear energy is experiencing renewed interest worldwide because it provides base load electricity in a safe, economical and reliable manner. Nationally, nuclear power plants are operating at more than 90% capacity—far more productive than any other source of electricity. At the same time, nuclear production costs have continued to drop and are by far the lowest of all sources of clean energy.
With no less than 54 plants currently under construction worldwide, a nuclear energy renaissance is clearly underway. Recently the Obama administration committed to $8.3 billion in loan guarantees that will help jump-start the construction of the first two of 22 plants identified for construction in the U.S. With the first of these plants due to come online starting in 2016, the U.S. manufacturing base and the Carolina region in particular are faced with an incredible opportunity.
More than 37,000 South and North Carolinians work in jobs related to the nuclear industry. They earn and re-deploy more than $2 billion in annual pay. In 2008 the industry also paid more than $750 million in local and state taxes. These industry professionals possess critical science, technical, engineering and math skills that are generally considered a backbone of a solid economic base. And, they are precisely the skills that need to be continually cultivated for a revitalized nuclear energy industry poised for significant growth.
Acclaimed columnist Thomas Friedman says our Great Recession is not just a financial system failure. He says we relinquished our competitive edge in the world: Those with the imagination to make themselves untouchables — to invent smarter ways to do old jobs, energy-saving ways to provide new services, new ways to attract old customers or new ways to combine existing technologies — will thrive.
Friedman and the Carolinas Nuclear Cluster are aligned in this theory. Our industry practices the entrepreneurship, innovation and creativity that Friedman says our country needs.
The U.S. and the Carolina region must act upon the nuclear renaissance to grow or regain specialized manufacturing capabilities and cultivate the thousands of craft laborers needed to help bring the new plants to fruition. By continuing to invest in our manufacturing resources, South Carolina will realize the economic benefits that jobs creation and sustainability provide through its commitment to the nuclear energy industry.
Nationally, our energy policy is finally moving toward embracing nuclear energy as a clean, safe, reliable and economical source of electricity. As a state let’s aggressively provide our skills to power our neighborhoods and drive the once-in-a-lifetime economic development opportunity that is in front of us.
Mark Fecteau, Chairman, Carolinas Nuclear Cluster (part of New Carolina); Managing Director of Global Growth and Innovation, Westinghouse Electric Company
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