Cryptocurrency ecosystems are rapidly growing and are here to stay. Cryptocurrencies are regularly among the 10 largest traded volumes in financial markets, more and more businesses are accepting crypto payments, and crypto “ATMs” are starting to appear at gas stations and grocery stores. However, cryptocurrencies face one major impediment to widespread public acceptance: energy consumption. Opponents of cryptocurrency often cite its energy and pollution footprints as major reasons against adoption. Energy issues have been tied to significant losses in valuation for the major cryptocurrencies, contributing to volatility in that sector. Although crypto valuations have been quick to recover, the energy and pollution challenges remain.

A recent U.S. Energy Information Administration report, Short-Term Energy Outlook, notes that in 2020, nuclear power plants generated more electricity in the United States than coal-fired plants for the first time ever. Last year also marked the first time that coal generation was not the first or second largest U.S. electricity producer in more than 70 years.

Two factors led to the decrease in coal-fired generation, according to the EIA: one is the drop in the number of operating coal-fired plants, and the other is the lower utilization of those remaining coal-fired plants as the nation moves toward cleaner energy production. Coal, however, is not to be abandoned yet, according to the EIA.

The next couple of years will see changes in energy production, according to the EIA report. The EIA believes that "increases in natural gas prices will make coal more competitive in the electric power sector. This expected increase in coal's utilization more than offsets the upcoming retirement of 2.8 GW of coal capacity in 2021 and another 8.5 GW in 2022," based on information reported to the EIA by coal-fired plant owners and developers.

According to the U.S. Energy Information Administration’s latest inventory of electric generators, 9.1 gigawatts (GW) of electric generating capacity is scheduled to retire in 2021.

In total, it appears that 30 plants (nuclear, coal, petroleum, and others) will be retired in 2021. Five nuclear reactors are included in the closure list—Indian Point-3, Byron (two units at the plant), and Dresden (two units at the plant). Those three plants produce 5.1 GW of power, accounting for more than half of the total capacity expected to be retired.

Mary Lou Dunzik-Gougar

In the September issue of Nuclear News, I asked if you’ve ever wondered why nuclear isn’t commonly considered the choice for clean power production. In that column and in August’s, I provided some information about the cleanliness and safety of nuclear for your use as you make the case for this clean energy source to friends and neighbors. This month, let’s talk reliability.

Graph: EIA

Of the 10 U.S. power plants that generated the most electricity in 2019, nine were nuclear plants, a recent report from the U.S. Energy Information Administration states.

These 10 facilities produced a combined 230 million megawatt hours of electricity last year, accounting for 5.6 percent of all electricity generation in the United States, according to the report. The report also notes a shift in the makeup of the top plants over the past 10 years, from a mix of nuclear and coal-fired generators in 2010 to nearly all nuclear in 2019.

Coal’s share of U.S. electricity generation dropped from 45 percent in 2010 to 23 percent in 2019, the reports says. Stricter air emission standards and decreased cost competitiveness relative to other generators are given as the key reasons for coal’s decade of decline.

Kristine Svinicki, chairman of the Nuclear Regulatory Commission, and Andrew Wheeler, administrator of the Environmental Protection Agency, have signed a memorandum of understanding to improve coordination and cooperation in the regulation of the in situ recovery (ISR) process of uranium extraction and to support the goal of establishing a stronger U.S. uranium mining industry.

The Nuclear Energy Institute has released Nuclear by the Numbers, a 28-page report brimming with statistics showing the benefits of U.S. nuclear power generation. NEI issued a summary of the report in March (NN, Apr. 2020, p. 19).

The U.S. Energy Information Administration is projecting that U.S. electricity generation from nuclear power will most likely decline from its 2019 share of about 20 percent to 12 percent by 2050. In addition, the agency sees generation from coal declining by 11 percent, from 24 percent to 13 percent.

According to the EIA’s Annual Energy Outlook 2020, released in late January, nuclear and coal will experience a substantial falloff over the next few years—the result of slow load growth and the increasing electricity production from renewables, which is expected to grow from 19 percent to 38 percent over the next 30 years—but will then plateau to collectively provide about 25 percent of the nation’s electricity through the century’s midpoint.