Blog Topics Energy Transition

Boost for Nuclear Resurgence

byCarson Kearl, Enverus Intelligence® Research (EIR) Contributor

The U.S. Department of Energy has issued a $1.52 billion conditional loan guarantee to Holtec International for the reopening of the shuttered Palisades Nuclear Plant in Michigan. Once operational, the plant is expected to provide zero-emissions electricity to around 800,000 homes, significantly contributing to the nation’s clean energy goals by avoiding 4.47 mtpa of CO2 emissions. The generating station would support more than 1,000 jobs during regularly scheduled refueling and maintenance periods every 18 months. Beyond the main 800-MW reactor, Holtec plans to install small modular reactors at the site, potentially doubling the generation capacity and leveraging existing infrastructure. If successful, the Palisades repower would be a first-of-its-kind achievement for the U.S. nuclear industry.

This example is the first of what we expect to be a more consistent stream of nuclear funding announcements for large-scale reactor projects over the coming years. For the U.S. to meet its COP28 commitments, about 200 GW of new or repowered nuclear plants need to come online between now and 2050. In our view, construction starts need to ramp up in the early 2030s for this goal to be attainable. For the U.S. to emerge as a leader in this space, it must overcome cost challenges that currently make it one of the least efficient builders of this abundant power source (Figure 1).

Research Highlights:

  • Onshore Wind Screening – Benchmarking Prime Development Regions – This report builds on the Enverus Intelligence Research solar and battery storage market screening analyses to identify top locations for onshore wind projects in the U.S. This market screening considers factors like economic viability, power prices, demand growth, interconnection queues, planned transmission expansion and relative cost of entry via acquisition.
  • ERCOT Fundamentals – Lighting the Lone Star – Gain valuable insights into the future of the ERCOT power market with Enverus Intelligence Research’s comprehensive report, covering generation mix projections, load forecasts, power price impacts, market restructuring, interconnection queues, asset benchmarking and project siting analysis.
  • Data Center Alley – Capacity Running Out – This Fusion Insights analyzes load interconnect opportunities remaining in PJM and identifies prime locations to locate new data centers. Subscribers can download the nodal withdrawal capacity data file attachment and use Fusion to join it with our ATC or substation tables in Enverus PRISM® to recreate this dashboard.

About Enverus Intelligence®| Research 
Enverus Intelligence® | Research, Inc. (EIR) is a subsidiary of Enverus that publishes energy-sector research focused on the oil, natural gas, power and renewable industries. EIR publishes reports including asset and company valuations, resource assessments, technical evaluations, and macro-economic forecasts and helps make intelligent connections for energy industry participants, service companies, and capital providers worldwide. Click here to learn more. 

Picture of Carson Kearl, Enverus Intelligence® Research (EIR) Contributor

Carson Kearl, Enverus Intelligence® Research (EIR) Contributor

As an Analyst on the Enverus Intelligence® Research (EIR) team, Carson is the lead on data centers and advanced energy technologies. He was previously an analyst on the macro team and has additional experience advising large industrial consumers on their energy consumption. His education in economics at the University of Alberta focused on industrial organization and power markets.

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