New nuclear power plants are hugely expensive to build in the United States today. This is why so few are being built. But they don’t need to be so costly. The key to recovering our lost ability to build affordable nuclear plants is standardization and repetition.
...
Currently, as M.I.T.’s Richard Lester, a nuclear engineer, has written, a company proposing a new reactor design faces “the prospect of having to spend a billion dollars or more on an open- ended, all‑or‑nothing licensing process without any certainty of outcomes.” We need government on the side of this clean-energy transformation, with supportive regulation, streamlined approval, investment in research and incentives that tilt producers and consumers away from carbon.
...
[I]n 60 years of nuclear power, only three accidents have raised public alarm: Three Mile Island in 1979, which killed no one; Fukushima in 2011, which killed no one (many deaths resulted from the tsunami and some from a panicked evacuation near the plant); and Chernobyl in 1986, the result of extraordinary Soviet bungling, which killed 31 in the accident and perhaps several thousand from cancer, around the same number killed by coal emissions every day.