A major economic bill headed to the president has “game-changing” incentives for the nuclear energy industry, experts say. Those tax credits are even more substantial if a facility is sited in a community where a coal plant is closing.
provides the most spending to fight climate change by any one nation ever in a single push. Among the many things it could do nuclear energy experts say is spur more projects like one Bill Gates is planning in Kemmerer, Wyoming. Gates’ company, TerraPower,an advanced, nontraditional nuclear reactor and employ workers from a local coal-fired power plant scheduled to close soon.
“It’s a growing trend,” Qvist said, “now it’s being talked about everywhere.” Qvist is also founder of Qvist Consulting Limited in the United Kingdom. “You have a site, you have a grid connection. You have equipment that can remain in use, and you have a workforce that could be retrained.” The bill also has $700 million to produce the uranium fuel in the United States that many advanced reactors need. And there’s a tax credit for existing nuclear plants worth up to $15 per megawatt hour from 2024 to 2032. That’s enough of a boost that it’s highly likely no nuclear plants will close during that period for economic reasons, Crozat said. There are expanded options for how the credit can be used, with direct payments for certain owners, such as municipal utilities.
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