Nuclear Energy Adds $60 Billion a Year to US EconomyJul 09 - Global Data Point
The economic and financial consulting firm's analysis, "The Nuclear Industry's Contribution to the U.S. Economy," also measures other economic and societal benefits from the commercial nuclear industry. The study finds that the nuclear industry accounts for about 475,000 full-time jobs, both direct and secondary. Energy generated from nuclear power plants also prevents 573 million tons of carbon dioxide emissions -- worth an additional $25 billion annually if valued at the U.S. government's estimate for the social cost of carbon. "The economic and environmental benefits of nuclear energy are often undervalued in national and state energy policy discussions," co-author and Brattle Group principal Mark Berkman said. The report was prepared for the industry advocacy group Nuclear Matters by Berkman and Dean Murphy , also from The Brattle Group . Among the report's other findings are that the nuclear energy industry: Helps keep electricity prices low. Without the nation's nuclear power plants, retail electricity rates would increase by about 6 percent on average. The study observes that keeping electricity rates down is the primary means by which nuclear energy sources boost the economy. Provides $10 billion in federal tax revenues and $2.2 billion in state tax revenues annually. Avoids the emission of 650,000 tons of nitrogen oxide and more than 1 million tons of sulfur dioxide emissions annually, together valued at $8.4 billion using the National Academy of Sciences' estimates. The report notes that because of a confluence of economic and policy challenges, some U.S. nuclear plants are at risk of being prematurely shut down. "It is even more critical to consider the significant value of U.S. nuclear plants in a landscape where several factors threaten some nuclear facilities and could diminish the industry's contribution to our electricity supply, the economy and the environment," Berkman said. "This report stresses the need to address the underlying challenges associated with premature nuclear energy plant shutdowns to ensure that Americans can continue to reap the indisputable benefits that these plants bring to the table," Nuclear Matters Co-Chair and former New Hampshire Sen. Judd Gregg said. "The public and policymakers are seldom offered such starkly obvious public policy choices as working to ensure existing nuclear energy plants continue to operate." "Reducing carbon emissions is one of our country's top priorities," Nuclear Matters Co-Chair and former Indiana Sen. Evan Bayh added. "And yet, in this carbon-constrained world, existing nuclear energy plants receive no value for their ability to generate an astounding amount of carbon-free, reliable energy. The answer to one of our biggest environmental and economic challenges lies, in part, in nuclear energy. Without nuclear power, it would be impossible to achieve our carbon reduction objectives." http://www.energycentral.com/functional/news/news_detail.cfm?did=36723156 |