The Fiscal Alliance Foundation today responded to the announcement by Governor Maura Healey and other New England governors that they were exploring advanced nuclear energy, calling it a necessary but incomplete step toward solving the region’s energy challenges.
"Focusing on nuclear is the right move. Our recent study of New England’s energy grid shows that nuclear and natural gas are the only sources capable of delivering reliable baseload power while achieving emissions reductions in a comparably cost-effective way. But simply adding nuclear to the mix will not solve the region’s energy crisis unless policymakers also start unwinding the radical policies that have driven costs up and made the grid less reliable," said Paul Diego Craney, Executive Director of the Fiscal Alliance Foundation.
“State alternative energy mandates under the NetZero by 2050 climate law are projected to cause electricity in New England to become unreliable and expensive, forcing ratepayers to subsidize projects that deliver intermittent and overbuilt power. When these completed projects expire, they should not be renewed, and instead practical measures should be taken to invest in baseload power sources like nuclear and gas," said Craney.
"Advanced nuclear offers a path to safe, affordable, and baseload power with much smaller landmass needs than any alternative energy source. Paired with natural gas as a reliable bridge, it gives New England the tools to stabilize costs long-term, protect consumers, and will allow for economic growth. It is good to see policymakers starting to listen to some of the data. Now they need to act on it by repealing policies that have been driving energy insecurity and price increases for too long," closed Craney.
According to the January energy study by the Fiscal Alliance Foundation, achieving Net Zero in Massachusetts by 2050 would cost $405.1 billion using renewables alone, $206.4 billion using nuclear alone, and $97.4 billion with a combination of natural gas and nuclear.
To find how these costs for all New England states, please visit the study here.