Energy is a boring subject for many people. It puts people to sleep. It is like other necessities in life, we know we need it and someone else should take care of it. We do not want to think twice about it.
In cases of fundamentals like energy, water, and other core components that underpin modern society, we expect the government to handle it effectively and efficiently.
At the same time, from time to time we can see signs of a breakdown in national infrastructure. There’ energy issues in Sri Lanka, Pakistan, and other countries that range from the United Kingdom, Germany, and China.
In the United States, we have seen energy issues in California and other places.
This is a problem. Because energy flow helps to guarantee a higher quality of life. At the very least, it helps to power key parts of the healthcare system, education system, security, and even our water system.
There’s a strong issue when it comes to energy and it is important to have the right energy policies.
What Does a Good Energy Policy Consist of In This Modern Era?
It is not complex, a good energy policy will focus on preserving human quality of life. This means that it will preserve the lifestyle that many people are used to in the present day while also helping more people to climb out of poverty.
Individuals in emerging markets and the rest of the developing world should have the same ability to benefit from a strong energy infrastructure, thus allowing them to have more thriving economies.
Yes, energy is only one component of having a thriving economy, the right skills, goods, and services will matter as well. But the right energy policy will be critical in helping with experimentation, creativity, and opening up opportunities for people in different parts of the world.
A great energy policy would focus on cost-effective energy. If the energy is not cost-effective, then it is not as helpful. Who will pay for it? How will they pay for it?
More complexities occur when you have expensive energy. If people cannot pay for it, then providers have to stop the energy flows and we are back to the problem of less activity and opportunity. Oil and natural gas have helped to play a critical role over the past 40 years or more in helping to power various economies.
Another key component of a great energy policy is reliable energy. The manufacturing sector and general consumers require a certain amount of energy to maintain their quality of life, if that requirement is not met, it is quite literally disempowering.
Energy will also have to be sustainable. We want to make sure to minimize pollution to preserve overall quality of life. Whether it is minimizing or negating toxic fumes in the air, or keeping the lands and oceans clean, preservation is important. While oil may not be as sustainable, more agree that power sources like natural gas and nuclear energy are more sustainable.
But there’s a fine line to consider in energy policy, there are tradeoffs. For instance, if we maximize sustainability and focus on negating carbon emissions, with our current energy options, that means that we will have to stop growth in a large part of the developing world.
This means that we have to put a cap on economic growth in emerging economies while also potentially lowering the quality of life of people in developed economies.
A policy that focuses solely on emissions reduction without accounting for adequate and cost effective supply to meet growing demand is a disservice to humanity. This is where we need to have innovative solutions come into the picture.
One of these more compelling solutions is Nuscale Power.
What is Nuscale Power?
Nuscale Power is part of the growing segment of nuclear energy. More governments across the world are realizing the value of tapping into the power of seemingly magical rocks like uranium to bring about tremendous energy.
At the same time, many people have concerns about nuclear energy because of a few sporadic incidents. Further, it would be great to have nuclear energy that can produce reliable power without having to worry about much large build out costs.
That is where we can likely see potential with solutions like Nuscale Power. This solution seeks to provide small modular reactors.
Nuscale Power sticks to adhere to principles like
- Smarter Energy
- Cleaner Energy
- Safer Energy
Nuscale Power offers flexible design to meet various mission critical needs. It presents clean energy by offering a solution that is 100% carbon-free, according to its website. The last component of safe energy is highly important to minimize concerns. Nuscale addresses safety and security by having self-shut down processes within the modular reactor.
The company seeks to work with Romania and Poland on several key projects.
It aims to have one small modular reactor power plant running in Idaho Falls, Idaho by 2030.