Feasibility Study: Advanced Nuclear Technology is a Potentia
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This news is classified in: Traditional Energy Nuclear

May 11, 2023

Feasibility Study: Advanced Nuclear Technology is a Potential Option to Achieve Zero Carbon Emissions for Purdue University

Build on the successful stakeholder engagement to date to continue regional and national dialogue on nuclear energy. Purdue University and Duke Energy hosted a six-part lecture series , “Understanding Tomorrow’s Nuclear Energy,” from August 2022-February 2023. It reached an audience of 4,900 in-person and virtually. As technology and policy advance, additional stakeholder engagement will help ensure a broader understanding of the benefits and challenges of new nuclear development.

Conduct cost and economic studies, site evaluations and additional technology assessments. As first-of-a-kind projects progress through approvals and construction, Purdue University and Duke Energy will continue monitoring developments. Quantifying the costs and economic benefits of advanced nuclear, performing additional technology assessments and evaluating potential sites for development will help inform the path forward.  

The process to site, permit, receive regulatory approval, build and bring online a new nuclear plant currently takes about 10 years to complete. If Purdue University and Duke Energy at any point in the future decide to pursue small modular reactors near campus or elsewhere in Indiana, public and stakeholder input will be an important part of the process first.

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“The more we learn about small modular reactors, the more potential we see for this technology to help our university achieve a sustainable energy future and eliminate our dependence on fossil fuels,” said Michael B. Cline, senior vice president, Purdue University Administrative Operations. 

The Purdue University and Duke Energy feasibility study was announced in April 2022. The interim report released today culminates hundreds of hours of research and evaluation from nearly three dozen leaders and industry experts, including world-renowned experts who serve on the team’s executive and technical advisory committees .

Purdue University is a top public research institution developing practical solutions to today’s toughest challenges. Ranked in each of the last five years as one of the 10 Most Innovative universities in the United States by U.S. News & World Report, Purdue delivers world-changing research and out-of-this-world discovery. Committed to hands-on and online, real-world learning, Purdue offers a transformative education to all. Committed to affordability and accessibility, Purdue has frozen tuition and most fees at 2012-13 levels, enabling more students than ever to graduate debt-free. See how Purdue never stops in the persistent pursuit of the next giant leap at  https://stories.purdue.edu .

Duke Energy Indiana, a subsidiary of Duke Energy, provides about 6,300 megawatts of owned electric capacity to approximately 890,000 customers in a 23,000-square-mile service area, making it Indiana’s largest electric supplier.

Duke Energy (NYSE: DUK), a Fortune 150 company headquartered in Charlotte, N.C., is one of America’s largest energy holding companies. Its electric utilities serve 8.2 million customers in North Carolina, South Carolina, Florida, Indiana, Ohio and Kentucky, and collectively own 50,000 megawatts of energy capacity. Its natural gas unit serves 1.6 million customers in North Carolina, South Carolina, Tennessee, Ohio and Kentucky. The company employs 27,600 people.

Duke Energy is executing an aggressive clean energy transition to achieve its goals of net-zero methane emissions from its natural gas business by 2030 and net-zero carbon emissions from electricity generation by 2050. The company has interim carbon emission targets of at least 50% reduction from electric generation by 2030, 50% for Scope 2 and certain Scope 3 upstream and downstream emissions by 2035, and 80% from electric generation by 2040. In addition, the company is investing in major electric grid enhancements and energy storage, and exploring zero-emission power generation technologies such as hydrogen and advanced nuclear. 

Duke Energy was named to Fortune’s 2023 “World’s Most Admired Companies” list and Forbes’ “World’s Best Employers” list. More information is available at  duke-energy.com . The  Duke Energy News Center  contains news releases, fact sheets, photos and videos. Duke Energy’s  illumination  features stories about people, innovations, community topics and environmental issues. Follow Duke Energy on  Twitter ,  LinkedIn ,  Instagram  and  Facebook .

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