Read the article from the Hartford Business Journal
A coalition of free-market think tanks, including Connecticut’s Yankee Institute, released a study Tuesday arguing that New England would save between $400 billion and $700 billion by 2050 if states replaced planned wind and solar projects with nuclear power plants and natural gas facilities.
The study, “Alternatives to New England’s Affordability Crisis,” estimated meeting the region’s 2050 energy needs with nuclear power would cost $415.3 billion and achieve 92% carbon-free power, while natural gas would cost $106.9 billion with a 24.5% emissions reduction.
A combination of nuclear and natural gas plants — called the “Happy Medium” scenario — would cost $195.8 billion and cut emissions by 50%, according to the analysis conducted by Always On Energy Research.
The coalition compared these projections to findings from their 2024 study, which estimated meeting regional energy demand under current renewable energy mandates would cost $815 billion by 2050. The renewable scenario would cause New England families’ electricity bills to increase from $175 per month in 2024 to $384 per month by 2050, the study found.
Five of the six New England states have enacted renewable energy mandates. New Hampshire is the only state without such requirements.
Jack DeOliveira, director of policy at the Yankee Institute, said the analysis “gives policymakers a foundation to weigh trade-offs between affordability, emissions reductions, and system reliability as New England’s energy demand continues to grow.”
Connecticut is among the more aggressive New England states on climate policy, with a statutory mandate for 100% zero-carbon electricity by 2040 and an economy-wide net-zero goal by 2050.
Nuclear, along with wind and solar, qualify as zero‑carbon resources.
“New England policies aimed at decarbonizing the heating and transportation sectors will drive a massive increase in additional electricity demand during the coldest winter months,” said Isaac Orr, vice president of research for Always On Energy Research. “Keeping the heat on will require a massive buildout of power plant capacity that will be used for only five or six months per year, which drives up prices year-round.”
The study argues nuclear and natural gas plants provide continuous power unlike wind and solar, reducing blackout risks. The study concluded that “the idea that New England can run its electric grid on wind turbines, solar panels, and batteries is a dangerous and unserious proposition.”
Click here to view the study.