In addition to the environmental benefits, repurposing retired coal plants into nuclear plants can also create employment opportunities and drive economic benefits for communities. A new study by the trade association E4 Carolinas estimates that the nuclear power industry has a $9.8 billion impact on Tennessee's economy, adding an estimated 40,286 jobs in the state [e59a5bd5].
The Southeastern United States is referred to as a 'fertile crescent' of the nuclear industry, with the economic impact extending beyond the fence line of nuclear power plants. The top states in the South with the highest nuclear industry presence are South Carolina, Tennessee, Virginia, Georgia, and North Carolina. Tennessee is promoting the industry further with investments in new small modular reactors, nuclear fusion research, and nuclear-related manufacturers [e59a5bd5].
Critics argue that the economic gains from the nuclear industry come at the expense of taxpayers and utility ratepayers, and that renewable energy sources like solar and wind power are more cost-effective and cleaner for climate mitigation. However, nuclear power supporters believe that nuclear energy is essential for achieving a carbon-free future and reducing the use of fossil fuels [e59a5bd5].
Tennessee Governor Bill Lee has set aside $50 million to create a nuclear fund to attract more nuclear energy businesses to the state. TVA President Jeff Lyash plans to build 20 or more small modular reactors across the Tennessee Valley over time. The energy market is changing as vehicles shift to battery power and more homes and businesses transition to electricity, creating a need for more nuclear power generation. Tennessee, with its Oak Ridge National Laboratory and TVA, is well-positioned to lead in the next generation of nuclear power [e59a5bd5].
This development highlights the potential of repurposing retired coal plants for nuclear energy, offering a path to clean energy and economic benefits for local communities. It underscores the importance of collaboration and shared learnings in achieving clean energy goals [59b805e1], [e59a5bd5].