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Robotaxis Are Here: Top 3 Companies That Are Driving the Future of Ride-Hailing

Driverless vehicles are now starting to reshape urban mobility. As robotaxi services expand across major cities, investors are turning their attention to the companies powering this transformation. From Waymo’s early lead to Pony.ai and WeRide’s rapid scaling in China, these top robotaxi stocks are steering the future of autonomous transportation—and offering big opportunities along the way.

Meet the Robotaxi: AI Behind the Wheel

Robotaxis are driverless ride‑hailing vehicles that operate using a combination of sensors (LiDAR, cameras, radar) and AI to navigate without human drivers. Most services today reach autonomy Level 4, meaning they can handle all driving tasks within defined conditions.

Since Waymo launched its fully driverless service in Phoenix in 2020, the story has changed. Robotaxis are now seen as real, scalable mobility solutions, not just experiments.

AI advancements have sped up training and improved on-road performance. Meanwhile, sensor and hardware costs keep dropping. This could bring per-vehicle costs below $50,000, according to Goldman Sachs estimates. 

As such, companies are moving from successful pilot tests toward strategies focused on sustainable operations. Strong partnerships with ride-hail apps like Uber and changing regulations are paving the way for regional growth. These forces are combining to bring robotaxis closer to commercial viability.

With their technology maturing and real-world use expanding, robotaxis are moving beyond early trials. But what exactly is fueling their momentum today?

Why Autonomous Cars Are Gaining Momentum

Robotaxis are advancing rapidly due to several industry shifts. Here are the four key factors driving self-driving vehicles from tests to real services. 

  • Technology and Cost Improvements

One of the most important drivers of progress in the robotaxi industry is the rapid improvement in technology. Advances in artificial intelligence, particularly in generative AI, have made it faster and more efficient to train autonomous driving systems.

robotaxi interior
Source: Shutterstock

Also, hardware parts like LiDAR sensors, cameras, and onboard processors are now cheaper. Lower costs let companies build and deploy more robotaxis. This reduces the price per vehicle and helps companies get closer to profitability.

  • Shift Toward Revenue-Generating Models

Robotaxi companies are also changing how they operate. Many, including Pony.ai and WeRide, are no longer just testing their technology—they are running real services that bring in money. These firms now offer commercial robotaxi rides, shuttle services, and even autonomous delivery in selected cities.

  • Strategic Partnerships Expanding Reach

Collaborations with major partners are helping robotaxi companies grow faster. For example, Uber has invested in and partnered with WeRide, allowing the company to expand its services into more Chinese cities.

Similarly, Tencent has teamed up with Pony.ai to help deploy its autonomous vehicles on a large scale. These partnerships help robotaxi companies reach more users and also improve infrastructure and boost brand recognition. This support allows them to scale operations more efficiently.

  • Regulatory Support and Urban Expansion

Governments are starting to support the development and expansion of robotaxi services. In the United States, Waymo now operates in six major metro areas, including Phoenix, San Francisco, and Los Angeles.

Chinese companies like Pony.ai and WeRide have also received government approval to run services in multiple cities. This rising regulatory support shows that the public sector trusts the technology more. It also opens new growth opportunities in both Western and Asian markets.

These combined forces—tech gains, business shifts, partnerships, and policy changes—are reshaping the market outlook for robotaxis.

The Roadmap: Where the Robotaxi Market Is Going

The robotaxi industry is changing; it’s moving from research to a real business. This shift brings long-term money-making chances. Companies are enhancing AI systems and cutting hardware costs, with major equipment manufacturers injecting funds into top robotaxi companies.

For instance, in early 2024, Hyundai teamed up with Waymo to supply vehicles outfitted with autonomous driving technology for Waymo’s robotaxi fleet.

capital injections to robotaxi companies
Source: CB Insights

Analysts now predict that several key players will become profitable by the decade’s end. These improvements let companies cut ride costs. They are slowly replacing human-driven ride-hailing services in some cities.

For example, WeRide is projected to reach profitability by 2027. Its growing presence in China and partnership with Uber boost its commercial potential. Also, its ability to earn money from various services, like freight and shuttles, adds to this strength.

This transition from pilot programs to profit-driven business models signals a turning point for the industry. What was once a futuristic concept is now entering mainstream transportation markets.

Robotaxi global Market 2030
Source: MarketsandMarkets

According to a report, the global robotaxi market could grow from $0.4 billion in 2023 to $45.7 billion by 2030, at a rate of almost 92%.

If trends keep going, robotaxis might soon be profitable on a large scale. This is key for drawing in long-term investors and speeding up global use.

Game Changer: What Robotaxis Mean for Uber and Lyft

Robotaxis will likely shake up the ride-hailing industry. They promise a cheaper and safer option than traditional driver-operated services. Some companies are adding robotaxis to their platforms.

Others, like Tesla, are entering this space on their own. Tesla plans to launch a small fleet of robotaxis in Austin using its Model Y vehicles. Over time, it aims to scale the service to over 1,000 cars, leveraging its Full Self-Driving (FSD) software to operate without a driver.

This development poses new challenges—and opportunities—for companies like Uber and Lyft. Although robotaxis could threaten their core business models by reducing the need for human drivers, Uber appears to be preparing for a shift.

Some experts predict that the long-term impact of robotaxis could be transformative for Uber. As the cost of operating autonomous fleets continues to fall, Uber may shift a portion of its UberX trips to self-driving vehicles.

This move could make the company a larger mobility provider. It combines traditional ride-hailing, autonomous services, food delivery, and logistics into one ecosystem. This shows that urban transportation may change in the future for investors and industry watchers, as well as the emerging key market players.

The Power Players Driving Autonomy

Several major players are leading this transformation. Let’s look at how three key companies are shaping the robotaxi future.

Waymo: Backed by Alphabet and Top VCs

Waymo was the first to launch a driverless robotaxi service in 2020 and now operates in cities like Phoenix, San Francisco, Los Angeles, and Austin. By early 2025, total rides exceeded 10 million. This marked a ride-volume growth of over 5,500% since August 2023. It averages over 200,000 rides each week. They have about 1,500 vehicles now and also plan to add 2,000 more by 2026.

Financially, BofA estimates Waymo’s 2024 revenue between $50–75 million, alongside up to $1.5 billion in losses. Waymo has raised a huge $5.6 billion in funding, with Alphabet leading this round, backed by top VCs. This shows strong confidence from long-term investors.

Waymo robotaxis use a mix of sensors—like LiDAR, cameras, and radar—along with advanced AI to see the road and drive safely without a human. The technology lets the car make decisions, follow traffic rules, and navigate city streets all on its own.

Waymo is a dominant force in U.S. robotaxi operations, a first mover with real deployment scale, and backed by Alphabet’s ecosystem. Analysts think the business might greatly increase Alphabet’s value, and this could lead to a spinoff. Its mix of technical leadership, regulatory approvals, and partnerships (like Uber) makes it a strong long-term investment.

While Waymo leads in the U.S., China’s Pony.ai is gaining attention as a high-growth contender with big plans.

Pony.ai: A Strongly Recommended Robotaxi Stock

Pony.ai is a Nasdaq-listed autonomous driving startup that recently drew bullish analyst attention. Goldman Sachs named it the top robotaxi stock. They predict a 26–49% increase, setting price targets between $21.85 and $26. This is up from around $17.88. The consensus among three analysts rates it a “Strong Buy” with upside potential around 40%.

Pony stock analysis
Source: Tipranks

Pony.ai is launching its Gen-7 robotaxi vehicles in Shenzhen. They are partnering with Xihu Group and aim to deploy over 1,000 units. The company announced a deal with Tencent. This boosts its commercial viability and investor confidence. Visit here to know more about how its robotaxi technology works.

Pony.ai stands out with high analyst endorsement, solid stock upside, and actionable deployment plans. The Shenzhen rollout and Tencent partnership boost its credibility. Plus, strong tech and financial support provide ample runway. Profitability is expected by 2029, and strong funding is in place. This makes it a great mid-term growth opportunity.

Another strong player in China is WeRide, a company blending rapid revenue growth with major global partnerships.

WeRide: China’s 1st Listed Robotaxi Company

WeRide, a Nasdaq-traded company (WRD), posted Q1 2025 revenue of RMB72.4 million (US$10 million). This is a 1.8% increase from last year. Robotaxi revenue rose to RMB16.1 million, making up 22.3% of total revenue. This is a jump from 11.9% the previous year.

The company maintains a healthy gross profit margin of 35%, supported by strong product components. The company has about RMB6.2 billion (US$853 million) in cash and a $100 million stock buy‑back plan.

WeRide also secured a $100 million equity investment from Uber to support expansion into 15 additional cities. However, it still posts net losses—RMB385 million in Q1—with heavy R&D spending to scale operations. Analysts expect the company to turn profitable by 2027 but note regulatory and cost uncertainties.

As China’s first listed commercial robotaxi operator, backed by Uber and flush with cash reserves, WeRide occupies a unique niche. Its strong revenue growth, wider commercial reach, and partnerships with Nvidia and Geely show how scalable it is. It’s a riskier investment but with more potential. It’s great for those wanting to invest in early-stage autonomous tech in fast-growing markets.

With industry leaders paving the way, what will it take for robotaxis to reach full-scale adoption? Private investors have a big role to play. 

Chinese autonomous driving companies are accelerating commercialization and going public, but at lower valuations due to limited private funding. Still, robotaxi adoption is rising, with firms like Horizon Robotics, WeRide, and Pony.ai leading a wave of discounted IPOs.

valuation robotaxi companies in China
Source: CB Insights

Next Stop: Mainstream Adoption

In the next phase, robotaxi adoption hinges on scaling fleets, partnering with ride‑hail apps, and integrating with public transit systems. Clear regulations and better infrastructure—such as lidar-friendly roads, V2X communications, and charging stations—will boost growth.

Electric fleets offer cost savings and efficiency. They also provide environmental benefits, making them a strong choice for the long term.

But challenges like safety standards, liability rules, and public trust are still big hurdles. These leading companies are making progress. Their success depends on providing reliable, affordable, and accepted autonomous mobility.

Apparently, robotaxis are no longer an experiment—they’re becoming part of real-world mobility. Investments, improved tech, and expanding fleets show the industry edging into viability and profitability. Companies like Waymo, Pony.ai, and WeRide are leading the charge toward scaling and global reach.

By 2030, robotaxis could transform the ride-hailing sector—offering cheaper, cleaner, and safer ride options. The coming years will be pivotal as leaders battle to scale operations, win consumer trust, and substantiate profitability within city streets worldwide.

The post Robotaxis Are Here: Top 3 Companies That Are Driving the Future of Ride-Hailing appeared first on Carbon Credits.

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Why I’m Pro-Nuke Now: Beginning

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I composed this essay over much of 2026, as I was writing Beyond Vogtle — my detailed study (co-authored with James Boucher) of U.S. nuclear costs from the 1980s post-Three Mile Island reactors to the Vogtle 3 and 4 units completed earlier in this decade. It traces my journey from nuclear power doubter to proponent.

My story is both general and personal: what was changing in the wide world of nuclear power, energy policy and climate; and how I viewed those changes. I  hope this mode of story-telling resonates with a wide audience and also provide a backdrop to “Beyond Vogtle.”

It’s in three parts.

Detail from 1979 rally poster. Full poster appears below.

The first installment begins at the big Washington rally called to mark the Three Mile Island reactor accident, and covers the recession of nuclear dread, the advent of virtually always-on reactor operation, and nuclear’s status as the least carbon-emitting energy supply technology. 

Installment #2 begins with the failure (to date) of carbon tax advocacy — “A Climate Cure No One Wanted” — and continues with the closure of Indian Point and the concurrent slow dissolve of my dream that renewable energy could do it all.

The third and final installment begins with a slight detour in which I contrast the appalling human damage from automobility with nuclear power’s increasingly remote dangers, and then return to energy policy with a fresh way to regard nuclear power’s potential contribution to decarbonizing U.S. grids.

Thank for reading. Enjoy. And be sure to look at Beyond Vogtle: What History Tells Us About the Cost of New Nuclear (yes, that’s the full title).

  — C.K.

*  *  *  *  *  *  *  *  *

I’m pro-nuclear power. Big time.

I don’t just want the U.S. to keep running its 95 extant reactors. I want us to build more. Lots more. Hundreds.

I’m not alone. Public opinion is shifting toward nuclear power. But I came to that conclusion after spending years arguing the other side. From the mid-1970s to the late 1980s, I published a raft of critical analyses that got a good deal of public attention ― and even some traction within the nuclear industry itself. My core argument was that the cost of building nuclear plants was rising much faster than the costs of competing sources of energy. The main driver, I said, was a cascade of safety-requirement changes triggered by widespread fears of reactor accidents.

Here’s the full poster.

That work earned me a speaking spot at the massive May 6, 1979 rally in Washington demanding a halt to reactor construction in the wake of the March 28 meltdown at Three Mile Island in Pennsylvania. In the weeks before the rally, my research was cited in hundreds of news stories. At the Capitol, I stood alongside consumer advocate Ralph Nader, the leading figure in the U.S. antinuke movement; actress Jane Fonda, whose new film, “The China Syndrome,” had eerily foretold the Three Mile Island meltdown; and folk-rock icon Jackson Browne. I told the cheering throng that nuclear power was finished.

Cost overruns and canceled reactor projects were putting billions of dollars on the line, and I spent much of the next decade in courtrooms all over the country, explaining patiently to utility regulators why investors, not customers, should bear those losses. I eventually moved on to other public policy work, sparking big-city bicycling and helping bring congestion pricing to New York. But I kept watching nuclear power and the broader energy landscape. Over time, what I saw led me to turn from skeptic to supporter. Here’s why, in eight parts.

1. Fear and Dread Recede

Ask 100 random people today what “TMI” means, and at least 90 will say “Too Much Information.” Maybe one will mention the 1979 accident at Three Mile Island.

That’s a real shift.

The 1970s were commercial nuclear power’s first decade, and the Three Mile Island accident brought it to a terrifying close. Sixty hours into the slow-unfolding crisis, as fears grew that a “hydrogen bubble” in the reactor might explode and rupture the containment dome, CBS Evening News anchor Walter Cronkite captured the nation’s dread: “The world has never known a day quite like today. It faced the considerable uncertainties and dangers of the worst nuclear power plant accident of the atomic age. And the horror tonight is that it could get much worse.”[1]

The stricken reactor was eventually stabilized. But a combination of soaring costs and public apprehension brought an end to nuclear power’s rapid expansion in the United States.

Cronkite’s warning was about Three Mile Island itself, but it seemed to foreshadow more disasters to come. Yet since 1979, the U.S. nuclear industry has accumulated nearly 20 times as much reactor operating experience as it had built up in its entire history before the meltdown, without a sequel.[2] Like the dog that didn’t bark, this quiet fadeout of reactor calamities is an overlooked shift ― and it is prompting a rethink of long-held certitudes about nuclear power.

With each passing year there are fewer people who grew up with dread from Cold War-era A-bomb drills and weapons test fallout that got bundled into nuclear power. There are more young people like Zeke, a Brooklyn high-schooler who in 2019 went to Battery Park City to greet climate activist Greta Thunberg after her sail-powered trans-Atlantic voyage, but who this past May called fears about nuclear power “over-exaggerated.”[3] (Thunberg herself has said that Germany made a mistake by phasing out its nuclear plants, since it led to a sharp rise in coal-fired electricity.)

I’ve heard the same sentiment in hundreds of casual conversations over the past decade ― at climate rallies and on Trader Joe’s checkout lines, in California and in New York. These conversations suggest that the oppositional currents that once compelled federal nuclear regulators to keep piling on costly new safety requirements are losing force.

2. Permanent Peak Performance

Even before construction costs began to soar in the 1970s, nuclear power had another Achilles heel: spotty operating performance.

Throughout the 1970s and 1980s, the U.S. nuclear power sector struggled to maintain even a 60 percent “capacity factor” ― a measure of how much of a plant’s potential output it generates. That’s a dismal rate for equipment that’s expensive to build. I know this because I researched and wrote the first full-length study of shortfalls in U.S. nuclear plant performance, in 1976.[4]

That started to change in the mid-1980s. Plants finished safety upgrades required after Three Mile Island. The industry began sharing best practices ― and mistakes to avoid. Economic incentives helped too, as utility earnings became tied to how often plants actually ran.

A remarkable turnaround, though seldom credited in climate and nuclear discourse.

The turnaround has been dramatic. Since 2000, U.S. nuclear plants have averaged 90 percent capacity factor ― a huge leap from the earlier 60 percent. In effect, downtime has dropped four-fold, from 40 percent of the time to just 10 percent. Repair jobs and retrofits that used to drag on are now precision-scheduled like the train heist in “Breaking Bad.”

The higher reliability brings a huge symbolic benefit. In the 1970s, U.S. reactors seemed to stumble from one fiasco to the next. In Alabama, a technician using a lit candle to locate an air leak started a fire that burned through a thousand cables and knocked two brand-new reactors offline for 19 months. At some ocean-cooled plants, saltwater corroded delicate heat-transfer tubes, forcing protracted repairs. Profits and industry morale took a beating, and nuclear power became a punchline on “The Simpsons.”

Those days are long past. Nuclear power, uniquely, has blossomed into both grid bulwark and climate hero. Thanks to those higher ― much higher! ― capacity factors, each nuclear plant now displaces 50 percent more carbon-emitting power generation than it used to.[5] In fact, at a 90 percent capacity factor, a kilowatt of nuclear power delivers double or triple the climate benefit of a kilowatt of wind power (which averages 30 to 40 percent capacity factor) and roughly five times that of solar (15 to 20 percent) ― a crucial distinction that’s often missing from gushing coverage of renewable energy.

3. Climate to the Fore

Nuclear power’s newfound operational mastery would matter much less but for the urgency of the climate crisis and the persistence of U.S. and global carbon emissions. Like wind and solar, nuclear power generates electricity without burning carbon.

Squint to see that nuclear lifecycle greenhouse gas emissions range from 5.1 to 6.4 (in g CO2 equivalent per kWh); analogous range for solar-PV is 7.4 – 83.0; wind, 7.8 – 23.0. Source, Dinon et al., in report linked in this section’s second paragraph.

It is true that fossil fuels are implicated in nuclear power’s supply chain. Uranium mining uses petroleum, and enriching nuclear fuel requires electricity. But even counting upstream carbon, nuclear power’s climate footprint is smaller than that of wind, solar or hydropower, according to an authoritative 2022 analysis by a multinational team for the UN Economic Commission for Europe. (Their finding matched that of the similarly comprehensive 2018 report by the UN-chartered Intergovernmental Panel on Climate Change.[6])

That’s another big change. In nuclear power’s early years, uranium fuel enrichment was so energy-intensive that the three U.S. “gaseous diffusion” plants were said to consume 10 percent of all electricity used by American factories. But diffusion enrichment has given way to gas centrifuges and, more recently, laser isotopic separation ― methods that use 20 times less energy to isolate fissile U-235 from U-238.

The bottom line: kilowatt-hour for kilowatt-hour, nuclear-generated electricity is at least as effective as solar and wind at cutting climate pollution. Meanwhile, Hurricane Katrina, Superstorm Sandy, “heat domes” and wildfires, and, in August, the first Himalayan glacial collapse, have made once-hypothetical climate death and disruption a daily reality. More than rising electricity demand from A.I., it’s the climate crisis that’s driving renewed interest in nuclear power.

Click here for the second installment, Why I’m Pro-Nuke Now: Beginning.

[1] Quoted passage is from a local (PA) news site, though the an archived Channel 2 broadcast it cited is no longer on line.

[2] The sole “near-miss,” and a major one, was the 2002 discovery by operators at the Davis-Besse nuclear plant near Toledo, OH of extensive corrosion of the reactor vessel head — a vital barrier against loss of coolant and release of radiation. The U.S. General Accounting Office sternly rebuked the Nuclear Regulatory Commission for failing to identify and prevent the corrosion. See GAO, Nuclear Regulation: NRC Needs to More Aggressively and Comprehensively Resolve Issues Related to the Davis-Besse Nuclear Power Plant’s Shutdown, GAO-04-415, May 2004.

[3] In-person conversation at People’s Policy Conference at the New School for Social Research in New York, May 2, 2026.

[4] C. Komanoff, Power Plant Performance: Nuclear and Coal Capacity Factors and Economics (15 MB pdf), Council on Economic Priorities, 1976.

[5] Dividing today’s 90% uptime by the former 60% yields 1.50, indicating 50 percent more kilowatt-hours per kW.

[6] IPCC Annex III report, Technology-Specific Cost and Performance Parameters, 2018. See table on p. 1333.

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Why I’m Pro-Nuke Now: Centerpiece

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This is the second part of a three-part post. It begins with the failure of carbon tax advocacy and continues with the closure of Indian Point and the concurrent dissolution of my dream that renewable energy could do it all. Part I, “Beginning,” started with the Three Mile Island accident and covered the decline of nuclear dread, the advent of splendidly reliable reactor operation, and nuclear’s climate-hero status. It’s available here. — C.K.

4. A Climate Cure No One Wanted

Nuclear fission, wind turbines, solar panels. Each is a kind of miracle, creating electricity from sunlight, air currents, or the splitting of atoms rather than by setting things on fire. But to economists focused on decarbonization, a greater miracle would have been the widespread adoption of carbon taxes, or, as some prefer to call it, a “price on carbon” — a fee added to fossil fuels’ market price based on their carbon content. Such a tax would shift incentives across the economy away from using fossil fuels, cutting production of the main greenhouse gas, carbon dioxide.

Economists trace the carbon tax idea to the early 20th century British economist Alfred Pigou and his conception of “externalities” ― social costs, like pollution, that aren’t reflected in market prices, and are dumped on communities “external to the process.” My interest dates to the early 1970s, when I was a fledgling environmental analyst in New York City government. I had a front-row seat as an ingenious “sulfur surcharge” eliminated the price advantage of dirty, high-sulfur fuel oil, foiling an eleventh-hour attempt by the oil industry to undercut a groundbreaking clean-air regulation.

Much later, in 2007, I co-founded the Carbon Tax Center, an organization built around the idea of taxing fossil fuels by their carbon content. We proposed a national carbon tax starting at $15 per ton of CO2 and rising in annual steps to $100 within a decade. Our modeling suggested that by then, the myriad changes driven by the financial rewards for burning less carbon would be cutting U.S. emissions by nearly a third ― far more than conventional energy-efficiency standards or clean-energy subsidies.

To be clear, this wasn’t an either-or choice. A carbon tax was unusual in that it reinforced nearly every other decarbonization measure rather than competing with it. But what really set carbon pricing apart was its reach. Carbon taxes would reward every action that reduced fuel use ― not just buying more fuel-efficient cars, but driving less overall; not just laws mandating energy-efficient buildings, but reforming zoning to let new homes be built in town instead of spreading into sprawl; and, in the power sector, switching from higher-carbon coal to lower-carbon gas and from gas to virtually zero-carbon solar, wind, and nuclear power.

A carbon tax would have worked something like New York’s congestion pricing program, which last year began charging drivers $9 a day to enter Manhattan south of 60th Street. Congestion pricing hits gridlock with a one-two punch. The first punch is the price itself: faced with the toll, enough car owners find driving no longer worth it, that traffic actually drops. The second punch is the steady stream of subway improvements funded from the toll revenue — station elevators, real-time train signals, new lines — which pull still more commuters out of cars. Just so, the “stick” of a price and the “carrot” of better alternatives reinforce each other.

I took part in the 20-year campaign that pushed congestion pricing across the finish line. Its advent — and survival — in Trump’s second term is heartening. But it also highlights, by contrast, how little headway has been made toward a U.S. carbon price.

That failure constitutes a tragically missed opportunity for nuclear power, given how much a $100-per-ton carbon price could strengthen its economics. Compared with burning natural gas, the dominant source of U.S. electricity today, a $100/ton CO2 price would give nuclear roughly the same competitive edge as shaving 40 percent off the cost to build new reactors. Or, put another way, that carbon price would be like doubling or tripling what gas-fired power plants pay for pipeline fuel — pushing prices back to pre-fracking scarcity levels.[7])

5. Losing Indian Point

In the spring of 2020, with the COVID-19 pandemic raging, my wife and I fled the city for our cabin in the Adirondacks. One morning I was outside the general store, loading groceries onto my bicycle, when my phone started buzzing. It was Dietmar Detering, someone I knew slightly as leader of the advocacy group Nuclear NY, calling from Queens. I picked up and said hello.

“You call yourself a climate activist,” Dietmar began, his voice sputtering with anger. “Indian Point is being taken apart, and you haven’t said a word to stop it. How dare you?”

I vaguely knew that a 2017 deal ― pushed by the self-proclaimed environmental group Riverkeeper and brokered by then-Gov. Andrew Cuomo ― was about to shut down the Indian Point nuclear plant, located on the Hudson River 35 miles north of midtown Manhattan. The older of its two reactors unit would (literally) get the chop within a week; its twin would follow in a year. Both reactor vessels would be cut to pieces and their radioactive components chemically dissolved. Once that process began, there’d be no turning back.

I stood there holding my phone, stunned. A near-stranger was berating me! I would have hung up, but there was something raw in his voice that I couldn’t ignore. I don’t remember exactly what I said ― probably some version of “don’t blame me.” After all, the carbon tax I’d spent years advocating would have made Indian Point too valuable to shut down. Then I offered what I thought was my strongest point: soon enough, Indian Point’s carbon-free electricity would be replaced by zero-carbon wind and solar anyway, so little harm would be done.

Then Dietmar lowered the boom.

“You don’t get it, do you?,” he said, his voice now cold. “Even if all those new solar panels and wind turbines get built, they won’t displace fossil fuels. They’ll just be replacing carbon-free nuclear electricity that was already protecting the climate. They can’t do both.”

“Wait. What? Say that again.”

“Think of it this way,” Dietmar said. “When new renewables have to replace an existing power source that was already displacing fossil fuels, like Indian Point, their net climate benefit is zero. The renewables you’ve been counting on to push out fossil fuels can’t do that job as long as they’re having to take the place of nuclear plants that were already doing the decarbonizing.”

Full disclosure: those aren’t Dietmar’s exact words. They’re actually mine, drawn from articles I later wrote for Gotham Gazette and The Nation, and from a letter I co-wrote with futurist Stewart Brand, yes, the “Whole Earth Catalog” guy, urging California Gov. Gavin Newsom to halt the planned closure of the Diablo Canyon reactors along his state’s coast. But they capture Dietmar’s central point: shutting down a working nuclear power plant ― or any large source of carbon-free electricity ― nullifies the climate benefit that new replacement wind and solar projects are supposed to provide.

Six years later, Indian Point’s closure still haunts me. Why didn’t I speak up? It’s how I imagine I’d feel if a climbing partner had died because of some mistake I made. In New York, where I live, I measure every increment of renewable energy against the carbon benefit we threw away when Indian Point was shut down and dismantled.

By that gauge, wind and solar look mediocre. Take those 42-inch square “balcony solar” arrays that Germans are buying like hotcakes ― they’re a neat idea, but it would take 50 million of them to match the carbon reduction Indian Point provided, as I wrote here in June. Or consider a rooftop solar setup for the City Island boathouse where my ecologically minded physicist pal stows his sailboat ― fine on its own, but matching Indian Point’s climate value would require solarizing 600,000 similar buildings across the state.[8]

Underneath these daunting numbers is Dietmar’s deeper point: all of this new renewable capacity should have been added on top of Indian Point, not built to replace it.

6. Renewables in a Dimmer Light

Solar and wind power were guiding passions of my adult life. From the 1970s onward, I savored every news story about the latest gains in solar efficiencies and blade lengths. Wind turbines especially stirred me, with their kinetic kinship to bicycles and futuristic look.

Befitting my mathematical bent, I would calculate how much fossil fuel each new wind farm would keep in the ground. For Cape Wind, intended as the first U.S. offshore wind farm, near Cape Cod, I consulted a digest of ballpark dimensions to illustrate how much coal the project would displace each year: enough to cover the entire playing field at Boston’s Fenway Park — foul territory included — in a pile three times the height of the park’s famed “Green Monster” outfield wall.[9]

While I was playing with those numbers, a Stanford mechanical engineering professor named Mark Z. Jacobson was launching a stream of papers spelling out just how many wind turbines and solar panels ― on land, at sea, on rooftops, on farmland or rangeland ― would be required to satisfy the energy needs of different states and countries.

A table in Jacobson’s paper for New York helpfully broke down how much energy had to come from each source. Offshore wind was his largest category, charged with supplying 40 percent of New York State’s energy year-round. The number of turbines: 12,700.

That figure should have given me pause. Filling that quota meant building a hundred Cape Wind projects in the waters off Long Island, even as well-heeled locals including Riverkeeper figurehead Robert F. Kennedy Jr. (yes, that Kennedy) and Walter Cronkite (yes, that Cronkite) were NIMBYing the actual Cape Wind project to death. Ditto, wind projects proposed for the next county over from our cabin in the Adirondacks.

None of those projects were ever built — not just because of local opposition, but also because of a lack of full-throated support from environmentalists who should have championed them for their climate value. Especially in liberal Northeastern states, it seemed impossible to build anything that asked property owners to tolerate construction disruption or changed views, decarbonization be damned.

You might expect the outlook for Jacobson’s all-renewables vision for New York to be improving. Wind turbines are now so prodigious that he can propose 8,000 15-gigawatt turbines instead of 12,700 5-gigawatt ones.[10] And solar power has captured the public’s imagination in a way wind power has not — it’s no accident that climate activist (and Jacobson acolyte) Bill McKibben titled his 2025 call-to-action book, “Here Comes The Sun.”

Nevertheless, the carbon-free electricity lost when Indian Point closed has gone almost entirely unreplaced. Nearly nine-tenths of the power it generated is being made up by burning natural gas — not due to corporate chicanery but because no other source has stepped up. (See chart below.)

And dreams of an all-renewables grid still have to contend with an intrinsic fault ― one even more disabling than the NIMBY opposition sparked by the projects’ thirst for land. That weakness is intermittency: the fact that wind and solar output varies not just day to day, but moment to moment, at the mercy of the weather.

Jacobson has doggedly calculated how many megawatt-hours of wind and solar would be needed to match New York’s ― and other states’ ― total annual energy use. But neither his nor anyone else’s atmospheric models are detailed enough, meteorologically, to verify that a 100% wind-water-solar grid could keep the power on continuously ― hour by hour, year in and year out. Building in extra capacity doesn’t solve this problem. Compensating for weather’s unpredictability by deliberately oversupplying wind and solar, or backing them up with batteries, may look good on paper. But either approach would be punishingly expensive and probably insufficient as well, without ample supplies of reliable, dispatchable power such as nuclear. If there’s no wind, having twice as many turbines won’t help.[11]

In New York, the political fallout from losing Indian Point’s copious ’round-the-clock carbon-free electricity is landing on Cuomo’s successor. With the plant’s closure having pushed New York’s carbon-reduction targets out of reach, Gov. Kathy Hochul this year bowed to reality and froze a 2019 law tying New York’s climate and energy future to renewables. Forces ranging from standard-issue Democrats to grassroots greens are pillorying Hochul as a sellout to Big Oil, though her proposal to add five large reactors across the state — she dubs it her Nuclear Reliability Backbone — is almost certainly a more assured path to decarbonization than the fashionable all-renewables approach.

Click here for the final installment, Why I’m Pro-Nuke Now: Conclusion.

[7] The two representations in the text of carbon pricing’s boost to new reactors’ economics are derived and sourced in my Sept. 2026 paper with James Boucher, Beyond Vogtle: What History Tells Us About the Cost of New Nuclear.

[8] Comparisons in this paragraph employ: 2,028 MW capacity and 90% capacity factor for Indian Point; 220 W capacity and 15% CF for balcony solar. 17 kW capacity and 20% CF for boathouse solar. 10 MW and 40% CF for each wind turbine.

[9] Cape Wind assumptions: 130 3.6-GW turbines and 40% capacity factor yield 1,641 GWh/year. Coal assumptions: 9,800 Btu/kWh, 11,500 Btu/lb of coal, 1.32 coal specific gravity, 62.4 lb of water per cubic foot. Calculations yield 132-foot-high coal pile covering Fenway Park’s 128,000 sq ft surface (est’d from http://www.baseball-statistics.com/Ballparks/Bos/index.htm). That is 3-4x Green Monster height of 37 feet, 2 inches, per Wikipedia.

[10] While Jacobson’s new offshore wind configuration would outproduce its predecessor by nearly two to one, he has also upped his forecast for total required energy, leaving constant offshore wind’s share 40 percent share.

[11] To take a recent example: at the onset of a late June – early July 2026 heat wave, New York State’s wind farms collectively were producing less than one percent of their rated 3,000-megawatt capacity. See my “Beyond Vogtle” report (FN 46) referenced in Footnote 7.

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Why I’m Pro-Nuke Now: Conclusion

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This concludes my three-part post. Part I, “Beginning,” began with the Three Mile Island accident and covered the decline of nuclear dread, the advent of fabulously reliable reactor operation, and nuclear power’s climate-hero status; it’s available here. Part II, “Centerpiece,” covered the failure of carbon tax advocacy, the closure of Indian Point, and the dissolution of my dream that renewable energy could do it all; it’s available here. This part takes antinuclear activism to task for turning a blind eye to the far more lethal harms from unrestrained automobility, and then turns to the need to redefine “least-cost” decision rules guiding electricity investment. — C.K.

7. A More-Brutal Bête Noire

On a different, but as I’ll show, related topic: I had known for some time that deaths from being struck by a motorist were shockingly common in the U.S., with 300 a year in New York City alone. I had made that fact a central element in defending bicycling against the moral panic over ― of all things ― New York’s industrious bicycle couriers during the pre-digital 1980s. And as a bicycle commuter I had long jousted with drivers. But the death of oncologist Dr. Jie Zhang in 1994 forced me to consider driver-caused traffic violence as an assault on both public health and the moral order.

The horrific death in 1994 of physician and expectant mother Jie Zhang called into question antinuclear dogma that prioritized hypothetical reactor accidents over lethal dangers like unrestrained automobility.

A speeding driver hit and killed Dr. Jie outside Memorial Sloan Kettering Cancer Center on Manhattan’s East Side. She was nine months pregnant. As she lay dying, her colleagues at the hospital delivered her son, who survived. The newspaper ran a photo of the newborn in his father’s arms. My wife and our week-old son were safe at home. My good fortune was hard to bear.

What were the hazards of nuclear power, next to those of motorized traffic? There was and is no agreed-upon damage ratio between the two technologies. But in my eyes, the anti-nukers’ derogatory depictions of U.S. nuclear regulators seemed better suited to officials in charge of “auto safety.” In 2009, for example, after a spate of deaths in SUV rollovers, the National Highway Traffic Safety Administration required that roofs on new vehicles be able to support three times their already swollen weight. That rule led to wider windshield-obstructing structural posts , badly expanding SUV drivers’ blind spots. The result, according to a recent New York Times report, was a tidal wave of crashes that killed hundreds of pedestrians and cyclists and injured thousands more.

As a young attorney in the 1960s, Ralph Nader rocketed to fame by documenting how regulatory capture made cars excessively dangerous. His subsequent pivot to opposing nuclear power initially made sense but, over time, inadvertently left American pedestrians, cyclists, and occupants of smaller vehicles vulnerable not just to “vehicle bloat” but driver distractions and the “windshield perspective” of police, prosecutors and juries.

All the while, anti-nuclear activists keep pounding their drum, willfully ignoring U.S. reactors’ splendid post-seventies safety record (see Sections 1 & 2). With few domestic miscues to flog, they leaned instead into the faraway disasters at Chernobyl (1986) and Fukushima (2011). Those disasters were real enough, but they differed from the U.S. situation not just in location but also in root cause. Soviet and Japanese officials had downplayed reactor risks, while the U.S. nuclear enterprise had built a culture dedicated to containing them.

Even reactor radioactivity, like reactor accidents, is becoming another non-barking dog. We are half-a-century into the age of large-scale deployment of nuclear power, and not a single large-scale study has emerged that credibly pins increased morbidity and/or mortality on nuclear power plant operation. Moreover, the old Rubik’s Cube problem of nuclear waste disposal is yielding to engineered solutions. The hangup was never technical. It was political.

8. By All Means, Decarbonize

For half-a-century, nuclear power and renewable energy have circled each other like wary prizefighters.

The two weren’t simply antithetical, they were incompatible — logistically as well as culturally. One couldn’t be for both; you had to pick a side. That was the gospel of physicist Amory Lovins, whose revolutionary 1976 article in Foreign Affairs magazine, “Energy Strategy: The Road Not Taken,” upended energy policy debates and galvanized the antinuclear power movement.[12]

In Lovins’ influential framing, nukes epitomized “hard” energy — lumbering and brittle. Renewables — wind and solar — were “soft” — home-grown and “right-sized.” (This was before the relentless push for engineering efficiencies turned wind turbines into colossi and blanketed entire fields with solar panels.)

Fifty years on, the climate crisis has entered the ring and demanded that the rivals partner up. The choice now is carbon-burning vs. carbon-free. Further, the perilous timeline of the crisis has toppled another dictum, also traceable to Lovins: that the transition from fossil fuels must proceed under a “least-cost-first” hierarchy that turns to costlier energy sources only after first exhausting all of the less-expensive ones.

Once, that logic was persuasive. In a leisurely, decades-long transition, why not have the lowest-cost energy lead the way? Wherever a home solar array or a Great Plains wind farm could turn a profit, the thousand busy ants of capitalism could be trusted to deploy them. The climate-warping curve would bend, steadily, painlessly, bringing a more flexible and benign energy system into the bargain.

That was the idea. The reality is falling far short, as revealed by the stubborn persistence of U.S. carbon emissions.[13] The manifold causes have been touched on here; they include everything from traditional NIMBYism to viral versions built on conspiracy-mongering, along with supersized pickups, “sport utes” and the absence of robust carbon emissions pricing. The shale revolution and two Trump presidencies did their part as well, keeping fossil fuels cheap (until No. 47 made war on Iran), which added to the stock of carbon in the atmosphere and America’s stock of carbon-consuming cities and towns, farms and roadways.

In World Cup parlance, we’ve entered stoppage time. A new rule applies: nuclear power ― or any other fossil-fuel antidote ― need not pencil out as cheaper than solar or wind to merit a part in decarbonizing U.S. grids. Instead, we should pursue any energy source or energy-saving measure that displaces fossil fuel use at lesser cost than the harm caused by burning those fuels in the first place.

Feb. 11, 1985 cover.

Think of it like the hikers’ joke about the bear: I don’t need to outrun the bear, I just need to outrun you. In the same way, new nuclear plants don’t need to be cheaper per kilowatt-hour than solar or wind. Their electricity just needs to cost less than the added climate damage that would result from burning the fossil fuels that would otherwise fill the gap. And on that test, new nuclear power plants appear likely to succeed.

Let’s break that down.

What will new U.S. reactors cost to build?

This year I applied my statistical skills and power plant knowledge to the 49 most recently built U.S. reactors. Forty-seven of them limped to completion in the dozen years following Three Mile Island. At the time, their swollen costs so ravaged U.S. electric utilities that Forbes magazine termed the U.S. nuclear power program “the largest managerial disaster in business history.”

Nevertheless, my analysis of that cost data points to a path forward. I found that even if future reactor costs track past costs, a program that builds two or more reactors at each site and uses standardized designs will allow new plants to be built for an average cost of $8,200 per kilowatt of capacity, in 2025 dollars. At that price, building and running new reactors is almost certainly a lower-cost proposition than facing the ecological and human damage from burning equivalent fossil fuels.[14]

If anything, my figure is on the pessimistic side, since it bakes in the kind of shifting regulatory requirements that drove up costs so much in the post-TMI period. Even so, it comes to just half of what it cost to build the final two reactors — Georgia Power new Vogtle 3 and 4 units ― a project that nuclear power critics dredge up at every opportunity as proof that any new U.S. nuclear plant is doomed to be uneconomical.

An alternative visualization of this chart appears as Fig. 9 in “Beyond Vogtle.”

Just as important, the odds of future extreme overruns appear low. Using a probabilistic model, I found that the likelihood that a new twin-unit plant, built to a standardized design, will end up costing as much as Vogtle is slim ― the same odds, around 1.7%, as correctly calling six coin flips in a row.[15]

Will the long time to build new reactors undo their climate benefit?

Past nuclear plants seemed to take forever to finish. The 47 reactors whose costs I analyzed averaged nearly 12 years from initiation to completion ― a 50 percent worsening from their 1970s counterparts. Much of that added time traces back to Three Mile Island, which triggered design changes, equipment upgrades, and staffing shifts across the entire U.S. nuclear sector, each adding delays. Slowing demand for power also led some utilities to stretch out construction schedules on their own.

To nuclear power’s critics, these setbacks come with the territory. But reactors aren’t the only major infrastructure projects facing long timelines. Delays in building wind farms, transmission lines, and other accoutrements of renewable energy have prompted plenty of national hand-wringing too. Even balcony solar ― the latest face of decarbonization ― will need time to scale up. Electrical codes and fire regulations must be rewritten, and then the real challenge begins: installing roughly 25 million of these devices (at 220W each) to match the climate benefit of a single 1,000-megawatt reactor.

There’s also a déjà vu tinge to the complaint that nuclear power is too slow to help with the climate crisis. That argument easily predates Vogtle 3 and 4 ― the massive Georgia project that tested residents’ patience and wallets, but is now helping decarbonize Atlanta and hundreds of other cities. The goal isn’t to repeat Vogtle’s egregiously high cost, which doesn’t yet clear the bar set by the social cost of carbon. It’s to treat the climate fight as an ongoing effort to reduce harm by whatever effective means are available.

Balcony solar and giant nukes aren’t rivals ― they’re partners. Building Vogtle didn’t stop Georgians from putting solar panels on their roofs in 2015, and if balcony solar really is the money-saving no-brainer its supporters claim, there’s no reason it shouldn’t help rate-burdened Georgia families in 2027, too. “All hands on deck” is a cliché, but it fits here. The world has no time to wait ― it needs to decarbonize by every means available. Including nuclear power.

[12] Lovins’ Foreign Affairs article is available here. I recounted its momentous impact on energy policy and public discourse for The Electricity Journal in 10 Blows That Stopped Nuclear Power (Jan/Feb 1991).

[13] U.S. CO2 emissions circa averaged only 1 to 2 percent annual reductions over the period 2010-2025, a rate many times slower than needed to meaningfully address the climate crisis.

[14] See Komanoff & Boucher, “Beyond Vogtle,” op. cit., pp. 41-44.

[15] The chance of correctly calling six coin-tosses in a row is one-half raised to the sixth power, which is 1 in 64, or 1.56%, which more or less matches the 1.7% chance that a new nuclear plant will cost as much as or more than Vogtle 3 and 4. See Komanoff & Boucher, op. cit., Fig. 9.

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