While the move to becoming a ‘greener’ nation is a brilliant concept, it does not come without its downfalls. One of which is the cost. Residents currently subsidize solar installations that are carried out in New Jersey through a surcharge seen on their utility bills. However, nuclear power plants do not currently receive any subsidization, and this is causing somewhat of debate around the country as they are the biggest source of carbon-free electricity.
Currently, owners of these plants are pushing for the tax to go ahead, but with residents fighting against it, it may be a tough battle to win. While one of the main reasons for residents not wanting to support the idea is the rise in costs for consumers, there are also concerns over the environmental impact and health implications that often come with the use of nuclear power plants.
But, without the introduction of the tax, nuclear power plants may suffer so much financially that they may be forced to close, and would more than likely be replaced with more expensive, more damaging, less effective fossil fuel burning power plants, which would be very unproductive. With nuclear power plants providing around 97 percent of the power in New Jersey with zero greenhouse gas emissions it only seems fair to allow them the same financial rewards as other renewable energy forms.
However, if the government were to agree to introduce a subsidy for nuclear power plants and this was adopted nationwide, then the incentive for four nuclear units in New York alone would amount to over $900 million in just two years. Although this seems like a rather astronomical amount, those for the tax argue that the potential carbon reductions cost savings and property tax benefits would far outweigh this figure. So, it looks like the debate will continue for some time until a decision can be reached that will benefit the owners, shareholders, government and mainly, the public.
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