The energy transition is happening, but no technology exists today that can do the job of nuclear energy , Duke Energy ( NYSE: DUK ) CEO Lynn Good told CNBC on Wednesday.
While often the subject of controversy, Good said meeting energy transition goals with affordability and reliability will require nuclear power, and potentially use of smaller modular reactors in the future.
Nuclear energy accounts for ~20% of total U.S. electricity; for Duke Energy ( DUK ), a key power supplier to North and South Carolina, 50% of that electricity comes from nuclear plants.
"People understand that, over the next several decades, we must transition away from fossil fuels," the CEO said, but noting that nuclear comprises 56% of all U.S. carbon-free electricity, added "nuclear needs to be a part of the equation."
Commitment to affordability and reliability in the energy transition can keep the U.S. from ending up in a similar situation to Germany, which arguably moved too quickly in its transition to clean energy and away from nuclear, Good said.
Duke Energy ( DUK ) shareholders "should expect steady capital gains, low but sustainable dividend growth, a lot of safety, and a satisfying dividend yield," Leo Nelissen wrote in a bullish analysis posted earlier this year on Seeking Alpha .
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No power technology can replace nuclear energy for now, Duke Energy CEO says