Virginia's Ambitious Plan to Bring Advanced Nuclear Reactor to Wise County

Strategic Insights -

Virginia's Governor Glenn Youngkin has ambitious plans to bring a small modular nuclear reactor (SMR) to Wise County in the next decade, which has sparked both excitement and skepticism among locals and industry experts. While there is growing enthusiasm for nuclear energy, concerns remain about safety, waste disposal, and the economic viability of SMRs. Despite these challenges, Virginia's publicly-owned utilities, Appalachian Power and Dominion Energy, are exploring SMRs, with Appalachian Power targeting a site near Lynchburg and Dominion Energy evaluating the feasibility of an SMR next to its existing conventional reactors at North Anna.

Key Takeaways:

  • Governor Glenn Youngkin's administration is aiming to bring a small modular nuclear reactor (SMR) to Wise County, Virginia, in the next decade.
  • The SMR would be used for research, electricity generation for the University of Virginia at Wise, or possibly as a data center for the region.
  • Nuclear companies have not yet demonstrated the ability to produce safe, 24/7 carbon-free power at a competitive cost.
  • SMRs have a track record of failures, with only a handful reaching the construction phase and none operational in the U.S.
  • The industry is optimistic, with 98 different SMR design technologies being tracked by the Nuclear Energy Agency worldwide.
  • Climate advocates believe nuclear must succeed for the world to transition away from fossil fuels, and 56% of Americans support building more nuclear plants.
  • Concerns remain about safety, waste disposal, and the economic viability of SMRs.
  • Both Appalachian Power and Dominion Energy are exploring SMRs, with Appalachian Power targeting a site near Lynchburg and Dominion Energy evaluating the feasibility of an SMR next to its existing conventional reactors at North Anna.
  • The economic case for new nuclear remains an open question, as renewable energy and storage technologies continue to drop in price.

Statistics:

  • Among the 98 SMR design technologies being tracked, only a handful have reached the construction phase.
  • None of the SMRs are operational in the U.S.
  • 56% of Americans support building more nuclear plants.
  • Renewable energy and storage technologies are dropping in price, making the economic case for new nuclear an open question.
  • Unemployment rates for Southwest Virginia counties have risen only slightly from their Biden-era lows, but poverty rates in some counties remain stubbornly high.

Sources:

  • Virginia Mercury article on Governor Youngkin's plan to bring advanced nuclear reactor to Wise County
  • Pew Research Center article on majority of Americans supporting more nuclear power
  • Nuclear Energy Agency report on SMR design technologies
  • Virginia Mercury article on the challenges facing the Virginia Clean Economy Act
  • Canary article on small modular reactors having a moment, but still facing challenges
  • Study on health trends in a Tennessee county where a company generates highly enriched uranium fuels for naval reactors
  • Appalachian Peace Education Center article on SMRs being the next wave of exploitation of Southwest Virginia's resources