New Jersey faces years of rising electricity rates and potential supply reliability issues spurred by increased demand from data centers in the 13-state PJM Interconnection Grid region, which will continue to be an ongoing problem as long as the state remains a net energy importer. With changes in federal energy policy scuttling the Garden State’s plans to add 11 gigawatts from offshore wind by 2035, building new nuclear plants to add to the 40% of the state’s electric power produced by PSEG Nuclear is an environmentally preferable solution to building new natural gas plants.
Researchers with the Rowan Energy Collaborative (ROWEC), with support from the New Jersey State Policy Lab, have begun investigating the most efficient, cost-effective, and environmentally responsible ways to expand nuclear power generation in the state in an upcoming research project. This work will provide valuable data-driven analysis to inform and supplement the work of Gov. Sherrill’s administration, as her second signed executive order once being sworn into office was to establish a Nuclear Power Task force.
Energy production has significant impacts on our environment and the economic growth of our region. Nuclear power has the benefit of not emitting carbon during energy production, and with proper planning can expand energy production in a secure and dispatchable manner. This research is intended to equip decisionmakers with the technical, economic, and workforce insights necessary in order to make informed choices regarding New Jersey’s energy future. Through the course of this project, ROWEC researchers will:
- Study the financing and construction reactors built in the U.S. and Canada,
- Analyze the fiscal, regulatory, technical, environmental, supply chain, labor, safety, and interconnection issues involved in moving forward with a fourth PSEG Nuclear reactor as well as other potential projects in NJ,
- Analyze the impact of costs of expanding capacity through new nuclear plant construction compared to investment in large-scale solar, new natural gas plants, or offshore wind power, and
- Explore financing options for nuclear power plant construction, including direct state government investment or financing and/or multistate pension fund investment.