Energy Dept. readies to throw its nuclear lifeline
The Energy Department has opened the doors for power companies to seek subsidies aimed at preventing nuclear reactors from shutting down.
Why it matters: Early closure of financially struggling plants would hobble White House climate goals by taking large amounts of zero-carbon generation offline.
- Nuclear energy currently provides roughly one-fifth of U.S. electricity.
Driving the news: DOE on Tuesday solicited bids for $6 billion worth of support available under the bipartisan infrastructure law, with applications for the first funding cycle due May 19.
What they're saying: “We’re using every tool available to get this country powered by clean energy by 2035," Energy Secretary Jennifer Granholm said in a statement.
- "That includes prioritizing our existing nuclear fleet to allow for continued emissions-free electricity generation and economic stability for the communities leading this important work.”