Considering the nuclear option: Hidden benefits and social costs of nuclear power in the U.S. since 1970

David B. Adler, Akshaya Jha and Edson Severnini

Resource and Energy Economics, 2020, vol. 59, issue C

Abstract: Although burning fossil fuels has environmental consequences, many countries have switched away from nuclear power in favor of fossil-fuel fired electricity production after incidents at Three Mile Island, Chernobyl, and Fukushima. This study estimates the substitution between nuclear and fossil-fuel fired electricity generation in the United States. Using an event-study framework, we leverage nuclear plant openings from 1970 to 1995 and forced nuclear plant outages from 1999 to 2014. Plant openings (nuclear outages) reduce (increase) monthly net coal-fired generation by approximately 200 GWh, implying a considerable reduction (increase) in emissions. We find that the substitution between nuclear and coal is not one-to-one, as has been assumed in prior literature. After establishing these stylized facts, we explore the potential underlying forces driving the observed substitution between coal and nuclear.

Keywords: Nuclear; Coal; Electricity generation; External costs; Social costs; Air pollution costs; Event study (search for similar items in EconPapers)
Date: 2020
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Citations: View citations in EconPapers (5)

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Persistent link: https://EconPapers.repec.org/RePEc:eee:resene:v:59:y:2020:i:c:s0928765519301198

DOI: 10.1016/j.reseneeco.2019.101127

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