Profiting From a Nuclear-Free Third Millenium

This report by Amory B. Lovins of the Rocky Mountain Institute argues that nuclear power has suffered a historic economic collapse and is obsolete compared to end-use efficiency, distributed generation, and new energy technologies. Lovins asserts that nuclear power is more expensive than its competitors and that transitioning away from it would improve global security by making nuclear materials harder to acquire.

• Nuclear power has experienced a massive failure in growth and profitability, with installed capacity and ordering rates falling far below the lowest forecasts from the IAEA made 25 years prior. No vendor has turned a profit selling reactors, and U.S. investments exceeding one trillion dollars have produced energy levels comparable to those of biofuels.
• End-use efficiency is the most cost-effective competitor to nuclear power. In the U.S., the average historic cost of efficiency is $0.02 per saved kW-h, while well-designed retrofits in industry and commerce can reach costs of approximately $0.005/kWh. Other cheaper alternatives include combined-cycle gas turbines ($0.027–0.03/kWh), co- and trigeneration ($0.005–0.03/kWh), and well-sited windpower ($0.04–0.05/kWh).
• The transition to distributed utilities and new technologies further undermines the viability of nuclear power. Proton-exchange-membrane fuel cells are expected to capture much of the building power market, with prices projected to drop from $800/kW in 2000–01 to under $50/kW. Additionally, decentralized electricity sources provide 'distributed benefits' that can increase their economic value tenfold compared to central plants.
• Ending the commercial use of nuclear power would enhance global security by restricting the availability of materials used for nuclear weapons. Because civilian nuclear commerce currently provides a cover for illicit transactions, removing these 'ordinary items of commerce' would make the acquisition of 'bomb-kit ingredients' more conspicuous and politically costly.
• Nuclear power is an inefficient tool for combating climate change due to opportunity costs. Because efficiency is cheaper than new nuclear power, spending money on nuclear electricity displaces less coal-fired electricity than the same investment would if spent on efficiency, meaning nuclear power effectively makes global warming worse.

APA

LOVINS, A. B. (1999). Profiting From a Nuclear-Free Third Millenium. RMI. https://rmi.org/app/uploads/2017/05/RMI_Document_Repository_Public-Reprts_E00-19_ProfitNukeFree.pdf

Chicago

LOVINS, AMORY B. Profiting From a Nuclear-Free Third Millenium. RMI, 1999. https://rmi.org/app/uploads/2017/05/RMI_Document_Repository_Public-Reprts_E00-19_ProfitNukeFree.pdf.

Wikipedia

{{cite report |last1=LOVINS |first1=AMORY B. |title=Profiting From a Nuclear-Free Third Millenium |publisher=RMI |date=November 1999 |url=https://rmi.org/app/uploads/2017/05/RMI_Document_Repository_Public-Reprts_E00-19_ProfitNukeFree.pdf |access-date=17 August 2026 |via=Climate Insights Directory}}

BibTeX

@techreport{lovins1999profiting, author = {LOVINS, AMORY B.}, title = {{Profiting From a Nuclear-Free Third Millenium}}, institution = {RMI}, year = {1999}, month = nov, url = {https://rmi.org/app/uploads/2017/05/RMI_Document_Repository_Public-Reprts_E00-19_ProfitNukeFree.pdf}, urldate = {2026-08-17}, note = {Indexed by Climate Insights Directory} }