I’m sure you’ve heard numerous times now about China’s clean energy initiative. The emissions-heavy country has begun changing its energy portfolio to cut greenhouse gas emissions by 2030.
By 2020, coal power will be capped to 65%, and by 2030 China’s nuclear energy capacity is expected to reach 150 gigawatts, which amounts to 150% of the U.S. capacity.
Understand, the U.S. has been exporting nuclear supplies to China since the enactment of the 123 agreement in 1985. That agreement is set to expire in December 2015—but renewal is being discussed right now.
“Contracts awarded to U.S. nuclear energy suppliers have created billions of dollars in exports and thousands of American jobs,” says the Nuclear Energy Institute (NEI) senior director of supplier policy and programs Carol Berrigan.
With more than 20 nuclear reactors currently under construction in China, the trade will be essential to the country’s cleaner energy plans in the future.
And the benefits abound for U.S. nuclear reactor designers, manufacturers, and services.
Daniel Lipman, NEI Vice President for Suppliers and International Programs, asserts that nuclear plant construction exports could be worth between $3 billion and $7 billion per year by 2040, and support up to 45,000 American jobs per year.
Lipman also notes that nuclear exports from the U.S. are a major political chip for the country. With such volatile legislative moves as the recent Iran Nuclear Deal still in progress, control over who is receiving the nuclear technology and how they are using it is a matter of national, and global safety.
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Until next time,
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