Duke Energy: Feasibility Study - Advanced Nuclear Technology Is a Potential Option To Achieve Zero Carbon Emissions for Purdue University - Seite 2

Small modular reactor designs have enhanced safety features and are simpler than traditional nuclear plants, making them easier, faster and more affordable to build.

First-of-a-kind small modular reactors are expected to be in service in the U.S. later this decade, and the federal government is helping to fund several projects.

Small modular reactors offer many economic benefits, such as:

• Generating millions in taxes for local communities
  
• Creating thousands of temporary construction jobs and hundreds of permanent high-wage jobs
  
• Attracting private companies to locate and expand in Indiana
  

Federal and state law supports advanced nuclear development, but the federal licensing process is complex and lengthy. Streamlined planning, design, construction and financing are needed.

"To reach a clean, carbon-free future, we need to explore a broad range of technologies, including advanced nuclear," said Duke Energy Indiana President Stan Pinegar. "We need to study this and other options further, and this report starts a conversation about how we might transition to carbon-free power that can operate on demand in concert with renewable energy, such as solar and wind."

The interim report also explored challenges - such as public acceptance, regulatory conditions, cost competitiveness, technology development, used fuel management and skilled workforce availability - and recommended these next steps:

• Advocate for federal and state policy and funding needs.

Federal policy recommendations:

• Federally backed funding insurance options
  
• More nuclear engineering and science workforce development programs
  
• A public-private advanced reactor development program
  
• A fuel availability program
  
• Maintaining federal tax credits

State policy recommendations:

• Additional support for initial planning and development activities for first movers considering advanced nuclear technology
  
• State tax credits for small modular reactors and advanced reactors
  
• Build on the successful stakeholder engagement to date to continue regional and national dialogue on nuclear energy. Purdue University and Duke Energy hosted a six-part lecture series, "Understanding Tomorrow's Nuclear Energy," from August 2022-February 2023. It reached an audience of 4,900 in-person and virtually. As technology and policy advance, additional stakeholder engagement will help ensure a broader understanding of the benefits and challenges of new nuclear development.
• Conduct cost and economic studies, site evaluations and additional technology assessments. As first-of-a-kind projects progress through approvals and construction, Purdue University and Duke Energy will continue monitoring developments. Quantifying the costs and economic benefits of advanced nuclear, performing additional technology assessments and evaluating potential sites for development will help inform the path forward.

The process to site, permit, receive regulatory approval, build and bring online a new nuclear plant currently takes about 10 years to complete. If Purdue University and Duke Energy at any point in the future decide to pursue small modular reactors near campus or elsewhere in Indiana, public and stakeholder input will be an important part of the process first.