Unedited preprint, strictly embargoed to release, of article to appear soon in Electricity Journal (Elsevier), July 2017, doi:10.1016/j.tej.2017.06.002 Do Coal and Nuclear Generation Deserve Above-Market Prices? Amory B. Lovins [sole and corresponding author] Cofounder and Chief Scientist, Rocky Mountain Institute 22830 Two Rivers Road, Basalt, CO 81621, USA
[email protected], office +1 970 927 7202 Abstract All 14 current rationales for mandating or subsidizing uncompetitive coal and nuclear plants lack technical merit or would favor competitors instead. Subsidizing distressed nuclear plants typical- ly saves less carbon than closing them and reinvesting their saved operating cost into severalfold- cheaper efficiency. Carbon prices, not plant subsidies, best recognize decarbonizing attributes. Grid reliability needs careful integration of diverse, distributed demand-side and renewable re- sources, using competitive market processes and resilient architectures, but does not require “baseload” plants. Keywords Coal, nuclear, carbon, competition, efficiency, renewables Author biography Physicist Amory Lovins has advised major firms (including utilities) and governments world- wide for over 40 years; written 31 books and over 600 papers; and received the Blue Planet, Volvo, Zayed, Onassis, Nissan, Shingo, and Mitchell Prizes, MacArthur and Ashoka Fellow- ships, 12 honorary doctorates, the Heinz, Lindbergh, Right Livelihood, National Design, and World Technology Awards, and Germany’s Officer’s Cross of the Order of Merit. An honorary architect, Swedish engineering academician, and former Oxford don, he has taught at ten univer- sities. Time named him one of the world’s 100 most influential people, and Foreign Policy, one of the 100 top global thinkers. Acknowledgments The author thanks Peter Bradford, Mark Dyson, Virginia Lacy, Ryan Laemel, Chris Nelder, and several anonymous reviewers for research and editorial help.