The rising interest around the globe to reduce the reliance on fossil fuels has brought about a lot of interest towards the use of nuclear energy as an alternative source. This form of energy even though not 100% clean has lower levels of carbon emissions. There has been some interest in its large-scale production from some countries in Asia, like India and South Korea. However, in America, the use of nuclear energy has been slowed down by limited funds, which are resulting from the dire financial situation in the western world in these days (Massachusetts Institute of Technology, 2009).
In other markets, which are attempting this technology for the first time, it has been found out that the cost of making a nuclear plant is much more than that of a plant powered by coal or other natural alternatives such as gas. In America, the situation is not much different (Massachusetts Institute of Technology, 2009). Even though the efficiency of operating nuclear plants has gone up tremendously, the authorities are not sure about the cost of putting up such plants, let alone the cost of funding.
The government has made some attempts to lower the cost of investing in nuclear production plants in America. However, this has never been made as effective as required. There are many factors to blame, one being the competition for finance since this form of energy production competes with much cleaner sources of energy such as wind. There is also the issue of maintaining some level of risk with the people involved in this process in the private sector so that they can seriously handle their investments in this form of energy.
It is emphasized that safety in these plants is an issue that cannot be overlooked. Fortunately, the requirements for the efficient operation of the nuclear plant are similar to those necessary for the maintenance of safety in such plants. The very high standards for safety in these plants proposed in 2003 are still in place; they are very necessary since any leakage form a radioactive material can be disastrous (Massachusetts Institute of Technology, 2009).
The wastes generated from the utilization of nuclear energy are very hazardous to the environment. In America, there was a strategy developed in 2003 that proposed the safe keeping of the nuclear wastes for a number of decades so as to give chances for any adjustment in this process. The practice has been going on since 1986. However, these sites of storage cannot be examined as a result of legislation made in 1987 known as the Nuclear Waste Policy Act of 1987. In the legislation, the Environmental Protection Agency set up a new standard known as Respiratory to tackle the issue of public safety as well as their heath. This comes after many years of discussions and law suits against it (Massachusetts Institute of Technology, 2009)