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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.
Referencing the findings of the Intergovernmental Panel on Climate Change, as well as its own “strong history of environmental stewardship,” Dominion Energy on February 11 announced that it is expanding its greenhouse gas emission–reduction goals by pledging to achieve net-zero emissions by 2050. The new goal covers emissions of carbon dioxide and methane—the two leading greenhouse gases—from the company’s electricity generation and gas infrastructure operations.
“Our mandate is to provide reliable and affordable energy safely,” said Thomas F. Farrell II, Dominion’s chairman, president, and chief executive officer. “We do that every day, all year long. But we recognize that we must also continue to be a leader in combatting climate change. . . . Dominion Energy already has made important progress on emissions. This new commitment sets an even higher bar that I am confident we can, and will, reach. Net-zero emissions will be good for all of our stakeholders—for our customers, communities, employees, and investors.”
President Trump’s budget request for fiscal year 2021, released on February 10, allots $35.4 billion to the Department of Energy. Nearly $1.2 billion of that goes to the Office of Nuclear Energy (DOE-NE).
The final FY 2020 appropriations were signed into law on December 20, 2019, nine months after that budget was first proposed, and it could be several months before final appropriations for FY 2021 are enacted. Those enacted appropriations could bear little resemblance to the proposed budget. It bears noting that while the FY 2020 budget request for DOE-NE was $824 million, more than $1.493 billion—an increase of just over 87 percent—was ultimately enacted.