{"id":1932405,"date":"2023-05-17T07:10:52","date_gmt":"2023-05-17T11:10:52","guid":{"rendered":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/nuclear-power-poised-for-boom-in-us-but-industry-says-regulatory-reform-needed\/"},"modified":"2023-05-17T07:15:09","modified_gmt":"2023-05-17T11:15:09","slug":"nuclear-power-poised-for-boom-in-us-but-industry-says-regulatory-reform-needed","status":"publish","type":"post","link":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/nuclear-power-poised-for-boom-in-us-but-industry-says-regulatory-reform-needed\/","title":{"rendered":"US nuclear power set to boom, but industry calls for regulatory reform."},"content":{"rendered":"<aside class=\"mashsb-container mashsb-main mashsb-stretched\"><div class=\"mashsb-box\"><div class=\"mashsb-count mash-medium\" style=\"&quot;\"><div class=\"counts mashsbcount\">24<\/div><span class=\"mashsb-sharetext\">SHARES<\/span><\/div><div class=\"mashsb-buttons\"><a class=\"mashicon-facebook mash-medium mash-nomargin mashsb-noshadow\" href=\"https:\/\/www.facebook.com\/sharer.php?u=https%3A%2F%2Fwww.conservativenewsdaily.net%2Fbreaking-news%2Fnuclear-power-poised-for-boom-in-us-but-industry-says-regulatory-reform-needed%2F\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Facebook<\/span><\/a><a class=\"mashicon-twitter mash-medium mash-nomargin mashsb-noshadow\" href=\"https:\/\/twitter.com\/intent\/tweet?text=&amp;url=https:\/\/www.conservativenewsdaily.net\/breaking-news\/?p=1932405&amp;via=ConservNewsDly\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Twitter<\/span><\/a><a class=\"mashicon-subscribe mash-medium mash-nomargin mashsb-noshadow\" href=\"#\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Subscribe<\/span><\/a><div class=\"onoffswitch2 mash-medium mashsb-noshadow\" style=\"display:none\"><\/div><\/div>\n            <\/div>\n                <div style=\"clear:both\"><\/div><\/aside>\n            <!-- Share buttons by mashshare.net - Version: 4.0.47--><h2>Investors Pour $5 Billion into US Nuclear Power Companies<\/h2>\n<p>Private fund managers and venture capitalists invested over $5 billion in <a href=\"https:\/\/www.conservativenewsdaily.net\/breaking-news\/germany-shuts-down-half-of-remaining-nuclear-power-plants\/\" title=\"Germany Shuts Down Half of Remaining Nuclear Power Plants\">nuclear power companies<\/a> in the United States in 2022. The industry is set to build hundreds of new reactors, double its electrical output, and triple its workforce to meet a projected 50% increase in energy demand by 2050. <\/p>\n<p>During a \u201cState of the Industry\u201d address at the Nuclear Energy Assembly, Nuclear Energy Institute (NEI) President and CEO Maria Korsnick said, \u201cPeople want clean energy. Businesses are demanding versatile technologies while reducing their carbon footprint. State and congressional lawmakers and regulators want energy options \u2026 to decarbonize grid and <a href=\"https:\/\/www.conservativenewsdaily.net\/breaking-news\/u-s-to-russia-please-ignore-our-sensitive-nuclear-energy-tech-in-ukraine\/\" title=\"U.S. To Russia: Please Ignore Our Sensitive Nuclear Energy Tech In Ukraine\">strengthen energy security<\/a>. And when you add all of that up, these demands all point to one <a href=\"https:\/\/www.conservativenewsdaily.net\/breaking-news\/nuclear-power-poised-for-boom-in-us-but-industry-says-regulatory-reform-needed\/\" title=\"US nuclear power set to boom, but industry calls for regulatory reform.\">place\u2014nuclear carbon-free energy<\/a>.\u201d<\/p>\n<h3>Regulatory Morass Threatens Momentum<\/h3>\n<p>However, the industry\u2019s momentum could be stalled by regulatory morass, Korsnick warned. License renewals take on average 18 to 22 months, and new plant proposals take at least 40,000 hours to secure site permits and break ground. \u201cTo meet demand, we\u2019ll need a much faster regulatory process for advanced reactors without sacrificing safety,\u201d Korsnick said. \u201cIf we\u2019re serious about decarbonizing and meeting our climate goals, the Nuclear Regulatory Commission (NRC) must get serious about modernizing its processes because the road to a clean energy future rolls right through our regulator. It\u2019s that simple.\u201d<\/p>\n<ul>\n<li>Without regulatory reform, the nuclear industry will not be able to ramp up quickly enough to be an option in many areas of the country.<\/li>\n<li>The industry needs a modern streamlined regulatory process that maintains the gold standard of safety and paves the way for new builds at scale.<\/li>\n<\/ul>\n<h3>Supply Chain, Workforce Worries<\/h3>\n<p>The industry needs to affirm supply lines and build a workforce, Korsnick said. \u201cIt is critical that companies throughout the nuclear supply chain see the opportunity and believe in the opportunity. We need companies to prepare today for the manufacturing capabilities needed to meet this demand, which really can\u2019t wait four, five years,\u201d she said. The DOE estimates the industry will need a 375,000-person workforce by 2050.<\/p>\n<ul>\n<li>Companies need to move from consideration to commitment to contracts to signal confidence to the supply chain.<\/li>\n<li>The industry needs to prepare for the manufacturing capabilities needed to meet the demand.<\/li>\n<\/ul>\n<p>Korsnick concluded, \u201cThere is no question that demand will last. The only question now is how long will it take us to meet it?\u201d<\/p>\n","protected":false},"excerpt":{"rendered":"<p>US nuclear power companies received over $5bn in investments from private fund managers and venture capitalists in 2022. The industry is set to construct hundreds of new reactors, double its electrical output, and triple its workforce to meet a 50% increase in energy demand by 2050. This development is thrilling.<\/p>\n","protected":false},"author":509,"featured_media":1932406,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_mo_disable_npp":"","fifu_image_url":"https:\/\/cndimages.nyc3.digitaloceanspaces.com\/breaking-news\/wp-content\/uploads\/2021\/01\/IMG_2758-scaled-1.jpg","fifu_image_alt":"","footnotes":""},"categories":[543],"tags":[6548,3755,6984,4639,5084,4353,6985,8273],"class_list":["post-1932405","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-the-epoch-times","tag-boom","tag-calls","tag-industry","tag-nuclear","tag-power","tag-reform","tag-regulatory","tag-set"],"fifu_image_url":"https:\/\/cndimages.nyc3.digitaloceanspaces.com\/breaking-news\/wp-content\/uploads\/2021\/01\/IMG_2758-scaled-1.jpg","_links":{"self":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts\/1932405","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/users\/509"}],"replies":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/comments?post=1932405"}],"version-history":[{"count":0,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts\/1932405\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/media\/1932406"}],"wp:attachment":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/media?parent=1932405"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/categories?post=1932405"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/tags?post=1932405"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}