Biden’s Doe Has Announced an Investment of $1.2 Billion to Prolong or Restart Nuclear Plant Life.

Biden's Doe Has Announced an Investment of $1.2 Billion to Prolong or Restart Nuclear Plant Life.

The money is a component of the $6 billion Civil Nuclear Credit (CNC) Program offered as part of the Bipartisan Infrastructure Law to stop the early shutdown of nuclear reactors.

The Department of Energy (DOE) argued that nuclear energy is necessary for President Joe Biden’s objective of a carbon-free electrical grid by 2035 when it released the application requirements for the program’s second award cycle on Thursday.

U.S. Secretary of Energy Jennifer M. Granholm said in a statement announcing the current round of applications that President Biden’s $6 billion investment in the Civil Nuclear Credit Program made it abundantly clear that maintaining the domestic nuclear fleet is essential to achieving America’s clean energy future.

By extending the money provided by the Bipartisan Infrastructure Act, even more, nuclear power plants will have the chance to carry on as economic engines in local communities that gain from their access to affordable, reliable, and clean energy.

Only plants that intended to close during the four-year award window were eligible for financial assistance in the first round of funding. The DOE announced in November 2022 that the first monies had been tentatively offered to California’s Diablo Canyon Power Station, whose 1 and 2 reactors were slated for decommissioning in 2024 and 2025, respectively.

The second, however, will go to both facilities that could close in that window of time or that have already shut down as of November 15, 2021.

According to Reuters, this indicates that Michigan’s Palisades plant, which was forced to close two weeks early in May 2022 after a coolant leak was discovered, will be qualified to submit an application. The first round of investment was not approved by the plant’s current owner, Holtec International.

Biden's Doe Has Announced an Investment of $1.2 Billion to Prolong or Restart Nuclear Plant Life.

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A closed nuclear facility being brought back online is something that should happen, according to Holtec director of government affairs Patrick O Brien, who told Reuters in an email that this is wonderful news for the industry and for our country. This is why we are striving to bring Palisades back online.

Before, The Plant Provided 600 Well-Paying Employees.

This second application session, which ends on May 31, will have a total amount of $1.2 billion available.

As a result of the climate issue, several environmentalists have changed their stance on nuclear power, which is reflected in the program and DOE language around it. In its release, the DOE stressed the environmental advantages of nuclear power and noted that the closure of nuclear reactors may result in an increase in local air pollution, including other forms of air pollution and emissions that contribute to global warming.

Read More: Biden’s Doe Has Announced an Investment of $1.2 Billion to Prolong or Restart Nuclear Plant Life.

Kathryn Huff, 36, is in charge of Biden’s Office of Nuclear Energy. Partly as a result of global warming, she decided to pursue a career in physics and nuclear engineering.

In a recent interview with Inside Climate News, Huff stated that her generation is extremely concerned about climate change and that the best way to address the situation is via clean energy.

Nuclear power is currently the largest source of clean electricity in this nation. So many people in my generation see that as the sort of existential crisis that is motivating their worries.

Yet not all environmentalists support nuclear power. For instance, the Environmental Working Group (EWG) attacked Biden’s choice to support the expansion of Diablo Canyon.

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EWG President and California resident Ken Cook said in a statement at the time that the Biden administration’s decision was foolish and dangerously established a precedent for other regulated energy jurisdictions and utilities to continue operating aged, deteriorating nuclear reactors.

Spending $1 billion in taxpayer funds on clean, secure, renewable energy sources like solar, wind, and energy storage would be a much better use of that money.

Author: Vishal Rana

Vishal is working as a Content Editor at Enviro360. He covers a wide range of topics, including media, energy, weather, industry news, daily news, climate, etc. Apart from this, Vishal is a sports enthusiast and loves to play cricket. Also, he is an avid moviegoer and spends his free time watching Web series and Hollywood Movies.

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