Power company kills nuclear plant, plans $6 billion in solar, battery investment

Enlarge / A solar farm under construction in Punta Gorda, Florida, in 2016. (credit: KERRY SHERIDAN/AFP/Getty Images)

On Tuesday, power provider Duke Energy Florida announced a settlement with the state's public service commission (PSC) to cease plans to build a nuclear plant in western Florida. The utility instead intends to invest $6 billion in solar panels, grid-tied batteries, grid modernization projects, and electric vehicle charging areas. The new plan involves the installation of 700MW of solar capacity over four years in the western Florida area.

There's excitement from the solar industry, but the announcement is more bad news for the nuclear industry. Earlier this year, nuclear reactor company Westinghouse declared bankruptcy as construction of its new AP1000 reactors suffered from contractor issues and a stringent regulatory environment. Two plants whose construction was already underway-the Summer plant in South Carolina and the Vogtle plant in Georgia-found their futures in question immediately.

At the moment, Summer's owners are considering abandoning the plant, and Vogtle's owners are weighing whether they will do the same or attempt to salvage the project.

Read 9 remaining paragraphs | Comments