Westinghouse announces a new small nuclear reactor — a notable step in the industrys efforts to remake itself
Summary
Westinghouses move is a notable inflection point in the nuclear industrys effort to remake itself as a way to address climate change. But Durham says publicized cost estimates, which have reached past $30 billion, include things like interest on money borrowed to pay for the project. (News of Westinghouses AP300 was not public before Thursday morning, so Merrifield was speaking with CNBC about general trends in the nuclear industry.) Small nuclear reactors are also being eyed by industrial producers as carbon-free sources of heat, Merrifield told CNBC. "One aspect of many of the advanced reactor technologies, including high-temperature gas, molten-salt and sodium fast reactors, is they can produce industrial grade heat for non-power purposes or combined heat and power applications for industries such as steel making, chemical production, cement production, and milling and mining among many others," Merrifield said.