I can't really say I'm a fan of the new terraforming system, the only vanilla item that actually does anything to reduce the hazard level is the Orbital Fusion Lamp, and considering that there are orbital reflectors and shades throughout the sector, I can't really see why the old system had to go completely.
Presumably, the point of the lamp would have been for it to be used on worlds in complete darkness and with temperatures near absolute 0 where reflectors wouldn't work (eg. no Host star or incredibly far from host star) and it's probably just a little bit of a logical oversight by Alex because using it on a world when you could use reflectors instead seems like massive overkill.
And honestly given how, less than useful the current terraforming system and I really don't see a reason to ever bother using it, I understand there were balancing issues but increasing the time and cost should have counteracted those to a reasonable extent.