The Tennessee Valley Authority (TVA) expects to phase out its coal generation by 2035, but achieving net-zero carbon emissions without raising power prices or adversely affecting reliability will require substantial investments in energy storage and carbon capture and sequestration (CCS). TVA also will need to extend the lifetime of its nuclear power, and adopt the use of small modular reactors (SMRs), said Jeffrey Lyash, its president and CEO.
During a fireside chat with Sen. Joe Manchin (D-W.Va) on April 28 hosted by the nonprofit international think tank the Atlantic Council—an event focused on the future of low carbon generation in the Appalachian region—Lyash noted the self-funded U.S. corporate agency has already retired 60% of its coal generation. “Our coal units will continue to retire over the next 15 years because they’ve reached the end of life,” he said.