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Can Nuclear Power Supply Clean Energy in the Long Run? A Model with Endogenous Substitution of Resources

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Author Info
Chakravorty, Ujjayant () (University of Alberta, Department of Economics)
Magne, Bertrand (Paul Scherer Institut)
Moreaux, Michel (Toulouse School of Economics)

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Abstract

This paper models nuclear energy by developing a dynamic model with endogenous substitution among polluting nonrenewable resources. Nuclear power can reduce the cost of generating clean energy significantly. However, continued expansion of nuclear capacity at historical rates is likely to cause a scarcity of uranium and make nuclear power costlier than other energy sources within a few decades. Renewables such as solar, wind and biomass, clean coal and next generation nuclear power may supply significant amounts of clean energy late this century. The cost of generating low carbon energy increases sharply if global carbon concentration targets are set at 450 ppm instead of 550 ppm. A policy implication is that the current political and regulatory impediments to the expansion of nuclear power generation may prove to be costly in a post-Kyoto world.

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File URL: http://www.uofaweb.ualberta.ca/economics2/pdfs/WP2009-19-Chakravorty.pdf
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Publisher Info
Paper provided by University of Alberta, Department of Economics in its series Working Papers with number 2009-19.

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Length: 47 pages
Date of creation: 16 Apr 2009
Date of revision:
Handle: RePEc:ris:albaec:2009_019

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Related research
Keywords: energy resources; environmental regulation; global warming; hotelling models; resource substitution;

Find related papers by JEL classification:
Q32 - Agricultural and Natural Resource Economics; Environmental and Ecological Economics - - Nonrenewable Resources and Conservation - - - Exhaustible Resources and Economic Development
Q41 - Agricultural and Natural Resource Economics; Environmental and Ecological Economics - - Energy - - - Demand and Supply
Q48 - Agricultural and Natural Resource Economics; Environmental and Ecological Economics - - Energy - - - Government Policy

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This page was last updated on 2009-11-26.

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