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With rising energy demands, nuclear power is gaining attention as a key component of the US’s carbon-free energy strategy. The US Energy Department (DOE) aims to triple nuclear capacity by 2050, adding 200 gigawatts (GW) to meet net zero emissions goals.
Michael Goff, acting assistant secretary of the DOE’s Office of Nuclear Energy, emphasizes the urgency of this expansion, noting that:
“We are serious. We need to start deploying now.”
Meeting Rising Energy Demands with Nuclear Power
Large-load customers like data centers and manufacturing are driving increased demand for carbon-free power, potentially steering utilities toward nuclear energy, per S&P Global report.
Matt Crozat from the Nuclear Energy Institute (NEI) notes a significant rise in utility interest, particularly among those with existing nuclear fleets.
Last month, the largest nuclear power operator in the country, Constellation Energy Corporation, revealed plans to explore the construction of new nuclear capacity at its reactor sites to address the rising energy demand of its data center clients.
However, despite growing interest, the initial investment risk for new nuclear projects remains a significant hurdle. Lynn Good, CEO of Duke Energy Corp., stresses the need for federal incentives to mitigate construction risks.
Currently, federal support largely comes in the form of post-construction tax credits, which require operational plants to benefit. Good advocates for more robust support during the construction phase to balance the benefits and risks for consumers.
The completion of two new reactors at Georgia’s Vogtle Nuclear Plant, adding over 2,000 megawatts (MW), has sparked optimism. Georgia Gov. Brian Kemp and other officials argue that this project proves new nuclear construction is feasible in the US.
Energy Secretary Jennifer Granholm supports expanding the nuclear industry, suggesting more reactors should be planned, while also noting that:
“We are determined to build a world-class nuclear industry in the United States, and we’re putting our money where our mouth is.”
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