The Biden administration yesterday announced plans to restart decommissioned nuclear reactors and invest in new nuclear technologies to meet the growing demand for emissions-free electricity.
White House climate adviser Ali Zaidi revealed that the government is actively working on bringing additional shuttered nuclear plants back online, beyond the two projects already underway. These include the Palisades nuclear plant in Michigan and a unit at Constellation Energy’s Three Mile Island plant in Pennsylvania.
The Department of Energy has closed a $1.52 billion loan guarantee to finance the restoration of the 800MW Palisades Nuclear Plant in Michigan, marking the first recommissioning of a retired nuclear power plant in U.S. history. This project is expected to protect 600 union jobs at the plant and 1,100 in the community, while providing clean power to 800,000 homes in the Midwest.
Related stories:
- Palisades Nuclear Plant Secures $1.5 Billion Loan for Restart
- Pennsylvania Gov Pushes To Fast-Track Microsoft’s Plan To Revive Three Mile Island
The administration’s nuclear strategy also includes the development of small modular reactors (SMRs) and next-generation advanced nuclear reactors. Zaidi noted that the US Navy has requested information to build SMRs on six bases, emphasizing that this technology could be deployed within this decade.
To support these initiatives, the government has announced over $2.8 billion in funding for clean power in the Midwest. This includes the loan for Palisades and $1.3 billion allocated by the USDA to reduce electricity costs for rural communities.
These efforts align with President Biden’s goal of tripling US nuclear power capacity to fuel increasing energy demand, particularly from power-intensive technologies like artificial intelligence and cloud computing.
The administration aims to achieve a carbon-free power sector by 2035, with nuclear power playing a crucial role in providing uninterrupted, carbon-free electricity.
Information for this story was found via Reuters, and the sources and companies mentioned. The author has no securities or affiliations related to the organizations discussed. Not a recommendation to buy or sell. Always do additional research and consult a professional before purchasing a security. The author holds no licenses.
3 Responses
The Anti-Nuclear Industry Is A $2.3B-Per-Year Racket Substack · Robert Bryce
https://robertbryce.substack.com/p/the-anti-nuclear-industry-is-a-23b
With $$2.3 Billion / year spending by the Anti-Nuclear DE Industrial NGO Complex, that are ALLIES of the Harris Admin from ANTI-Nuclear CA, these moves ONLY have a slight chance of bringing back Nuclear IF MS, Amazon, & Google want to build AI in usa and not CHINA#1==which would be political easier but by Physics $$$$$. AI has the $$$$ to do it by Physics in usa but TOO WOKE to do it in usa
Has the environmental analysis been done to evaluate the impact of AI industry data center condtruction and power requirements? It would be wise to fully evaluate the impacts and cost versus the benefit versus the opportunity cost before we fully commit to going all in on AI. We didn’t do this when we chose the automobile as our single and only means of transportation on the ground and look where that took us.