The US Department of Energy (DOE) has commenced a $6 billion Civil Nuclear Credit Programme (CNC) to support the continued operation of the country’s nuclear reactors.
The plan aims to provide financial support to nuclear plant owners and operators that are planning to shut due to economic pressures.
By submitting a bid for the allocation of credits, operators can apply for funding to avoid early closure, thereby maintaining an important source of clean energy and job creation.
The funding forms part of President Biden’s Bipartisan Infrastructure Law and supports the Biden-Harris Administration’s view of the US fleet of reactors as necessary to achieving net-zero emissions by 2050.
According to the DOE, energy market pressures caused 12 commercial reactors to close since 2013. This has had a negative impact on the local economy as jobs were lost and resulted in a rise in emissions and drop in air quality.
The first CNC award cycle will therefore prioritise reactors that have already announced their intention to stop operating.
The announcement has received mixed reactions from industry, with critics highlighting that nuclear power is not 100% green and results in challenges around nuclear waste disposal.
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