Further exploration is required, together with price and financial research, regulatory circumstances, website evaluations and extra know-how assessments

WEST LAFAYETTE, Ind. – Purdue University and Duke Energy launched an interim report immediately (May 10) that describes small modular reactors as probably the most promising rising applied sciences and a possible, carbon-free choice that must be additional explored to assist meet the long run, long-term energy wants of Purdue University.

This discovering got here following the primary 12 months of a small modular reactor and superior reactor feasibility research into whether or not superior nuclear applied sciences might energy the college’s West Lafayette campus and provide extra vitality to Indiana’s electrical grid within the 2030s and past.

Electricity from nuclear energy crops is a carbon-free supply of vitality that operates repeatedly 24 hours a day. Small modular reactors will sometimes produce as much as 300 megawatts of fresh vitality, with some designs having greater producing capacities. They even have enhanced security options and are easier than conventional nuclear crops, making them simpler, quicker and extra reasonably priced to construct.

“Our early findings show that advanced nuclear technology presents a potential path to zero emissions for our university, and we intend to continue our teamwork with Duke Energy in the next phase of the study,” mentioned Purdue University President Mung Chiang. “The persistent collaboration among Duke Energy, Purdue University and world-renowned energy and policy experts demonstrates the critical importance of this exploration into advanced nuclear energy and what it could mean not only for our campus, but also the community, state and nation.”

In the interim report, no know-how has been chosen and no determination to construct a brand new nuclear plant has been made at Purdue University or on Duke Energy’s Indiana system. The interim report confirmed: 

• Small modular reactors are a promising, carbon-free vitality choice for Purdue University that must be additional explored.
• Because small modular reactors can function repeatedly and their vitality output can alter to satisfy energy demand, they complement different assets, resembling renewable vitality. This is essential for dependable vitality as wind and solar energy turns into a bigger share of the era combine.
• Small modular reactor designs have enhanced security options and are easier than conventional nuclear crops, making them simpler, quicker and extra reasonably priced to construct.
• First-of-a-kind small modular reactors are anticipated to be in service within the U.S. later this decade, and the federal authorities helps to fund a number of tasks.
• Small modular reactors supply many financial advantages, resembling:
  • Generating hundreds of thousands in taxes for native communities
  • Creating hundreds of short-term building jobs and tons of of everlasting high-wage jobs
  • Attracting personal corporations to find and develop in Indiana
• Federal and state legislation helps superior nuclear improvement, however the federal licensing course of is complicated and prolonged. Streamlined planning, design, building and financing are wanted.

“To attain a clear, carbon-free future, we have to discover a broad vary of applied sciences, together with superior nuclear,” mentioned Duke Energy Indiana President Stan Pinegar. “We need to study this and other options further, and this report starts a conversation about how we might transition to carbon-free power that can operate on demand in concert with renewable energy, such as solar and wind.”

The interim report additionally explored challenges – resembling public acceptance, regulatory circumstances, price competitiveness, know-how improvement, used gasoline administration and expert workforce availability – and really useful these subsequent steps:  

• Advocate for federal and state coverage and funding wants.

Federal coverage suggestions:

• Federally backed funding insurance coverage choices
• More nuclear engineering and science workforce improvement applications
• A public-private superior reactor improvement program
• A gasoline availability program
• Maintaining federal tax credit

State coverage suggestions:

• Additional help for preliminary planning and improvement actions for first movers contemplating superior nuclear know-how
• State tax credit for small modular reactors and superior reactors
• Build on the profitable stakeholder engagement so far to proceed regional and nationwide dialogue on nuclear vitality. Purdue University and Duke Energy hosted a six-part lecture series, “Understanding Tomorrow’s Nuclear Energy,” from August 2022-February 2023. It reached an viewers of 4,900 in-person and nearly. As know-how and coverage advance, further stakeholder engagement will assist guarantee a broader understanding of the advantages and challenges of recent nuclear improvement.
• Conduct price and financial research, website evaluations and extra know-how assessments. As first-of-a-kind tasks progress by approvals and building, Purdue University and Duke Energy will proceed monitoring developments. Quantifying the prices and financial advantages of superior nuclear, performing further know-how assessments and evaluating potential websites for improvement will assist inform the trail ahead.

The course of to website, allow, obtain regulatory approval, construct and produce on-line a brand new nuclear plant at the moment takes about 10 years to finish. If Purdue University and Duke Energy at any level sooner or later determine to pursue small modular reactors close to campus or elsewhere in Indiana, public and stakeholder enter shall be an essential a part of the method first.

“The more we learn about small modular reactors, the more potential we see for this technology to help our university achieve a sustainable energy future and eliminate our dependence on fossil fuels,” mentioned Michael B. Cline, senior vice chairman, Purdue University Administrative Operations. 

The Purdue University and Duke Energy feasibility research was announced in April 2022. The interim report launched immediately culminates tons of of hours of analysis and analysis from almost three dozen leaders and business consultants, together with world-renowned consultants who serve on the staff’s executive and technical advisory committees.

Purdue University

Purdue University is a high public analysis establishment growing sensible options to immediately’s hardest challenges. Ranked in every of the final 5 years as one of many 10 Most Innovative universities within the United States by U.S. News & World Report, Purdue delivers world-changing analysis and out-of-this-world discovery. Committed to hands-on and on-line, real-world studying, Purdue provides a transformative training to all. Committed to affordability and accessibility, Purdue has frozen tuition and most charges at 2012-13 ranges, enabling extra college students than ever to graduate debt-free. See how Purdue by no means stops within the persistent pursuit of the following big leap at https://stories.purdue.edu.

Duke Energy Indiana

Duke Energy Indiana, a subsidiary of Duke Energy, offers about 6,300 megawatts of owned electrical capability to roughly 890,000 prospects in a 23,000-square-mile service space, making it Indiana’s largest electrical provider.

Duke Energy (NYSE: DUK), a Fortune 150 firm headquartered in Charlotte, N.C., is one in all America’s largest vitality holding corporations. Its electrical utilities serve 8.2 million prospects in North Carolina, South Carolina, Florida, Indiana, Ohio and Kentucky, and collectively personal 50,000 megawatts of vitality capability. Its pure gasoline unit serves 1.6 million prospects in North Carolina, South Carolina, Tennessee, Ohio and Kentucky. The firm employs 27,600 individuals.

Duke Energy is executing an aggressive clear vitality transition to realize its objectives of net-zero methane emissions from its pure gasoline enterprise by 2030 and net-zero carbon emissions from electrical energy era by 2050. The firm has interim carbon emission targets of no less than 50% discount from electrical era by 2030, 50% for Scope 2 and sure Scope 3 upstream and downstream emissions by 2035, and 80% from electrical era by 2040. In addition, the corporate is investing in main electrical grid enhancements and vitality storage, and exploring zero-emission energy era applied sciences resembling hydrogen and superior nuclear. 

Duke Energy was named to Fortune’s 2023 “World’s Most Admired Companies” listing and Forbes’ “World’s Best Employers” listing. More info is offered at duke-energy.com. The Duke Energy News Center comprises information releases, truth sheets, images and movies. Duke Energy’s illumination options tales about individuals, improvements, neighborhood matters and environmental points. Follow Duke Energy on Twitter, LinkedIn, Instagram and Facebook.

Media Contacts

Purdue University | Tim Doty | 765.494.2080 | doty2@purdue.edu

Duke Energy | Angeline Protogere | 317.431.1910 | Angeline.Protogere@duke-energy.com

24-hour media line: 800.559.3853