• Latest
  • Trending
  • All
  • News
  • Business
  • Politics
  • Science
  • World
  • Lifestyle
  • Tech
Climate bill: Could coal communities shift to nuclear?

Climate bill: Could coal communities shift to nuclear?

August 13, 2022
Inside Beyoncé’s Dubai Hotel Suite — Which Costs $100K A Night

Inside Beyoncé’s Dubai Hotel Suite — Which Costs $100K A Night

January 31, 2023
GRID celebrates Apple products with framed Badge Collection

GRID celebrates Apple products with framed Badge Collection

January 31, 2023
Fate of wolf that killed von der Leyen’s pony to be decided today

Fate of wolf that killed von der Leyen’s pony to be decided today

January 31, 2023
Rep. George Santos tells colleagues he won’t serve on House committees

Rep. George Santos tells colleagues he won’t serve on House committees

January 31, 2023
Dave Durenberger, Censured by Senate in Ethics Breach, Dies at 88

Dave Durenberger, Censured by Senate in Ethics Breach, Dies at 88

January 31, 2023
Black Americans Are Much More Likely to Face Tax Audits, Study Finds

Black Americans Are Much More Likely to Face Tax Audits, Study Finds

January 31, 2023
The 20-inch Pokémon Squishmallows are absolutely massive

The 20-inch Pokémon Squishmallows are absolutely massive

January 31, 2023
El Chapo’s Son Had an Anti-Aircraft Gun In His Bedroom

El Chapo’s Son Had an Anti-Aircraft Gun In His Bedroom

January 31, 2023
Bonnie Raitt Heads to the Grammys, Recognized as a Songwriter at Last

Bonnie Raitt Heads to the Grammys, Recognized as a Songwriter at Last

January 31, 2023
Watch ‘Poor, Cold, Scared Wombat’ Rescued From Tree Stump in Middle of Lake

Watch ‘Poor, Cold, Scared Wombat’ Rescued From Tree Stump in Middle of Lake

January 31, 2023
Superman in Starring Role as DC Studios Unveils Strategy

Superman in Starring Role as DC Studios Unveils Strategy

January 31, 2023
Peter Chernin Content Studio North Road Secures $150 Million From Qatar Investment Authority

Peter Chernin Content Studio North Road Secures $150 Million From Qatar Investment Authority

January 31, 2023
DNYUZ
  • Home
  • News
    • U.S.
    • World
    • Politics
    • Opinion
    • Business
    • Crime
    • Education
    • Environment
    • Science
  • Entertainment
    • Culture
    • Music
    • Movie
    • Television
    • Theater
    • Gaming
    • Sports
  • Tech
    • Apps
    • Autos
    • Gear
    • Mobile
    • Startup
  • Lifestyle
    • Arts
    • Fashion
    • Food
    • Health
    • Travel
No Result
View All Result
DNYUZ
No Result
View All Result
Home News Environment

Climate bill: Could coal communities shift to nuclear?

August 13, 2022
in Environment, News, Politics, Science
Climate bill: Could coal communities shift to nuclear?
505
SHARES
1.4k
VIEWS
Share on FacebookShare on Twitter

PROVIDENCE, R.I. — A major economic bill headed to the president has “game-changing” incentives for the nuclear energy industry, experts say, and those tax credits are even more substantial if a facility is sited in a community where a coal plant is closing.

The transformative bill 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, plans to build an advanced, nontraditional nuclear reactor and employ workers from a local coal-fired power plant scheduled to close soon.

Companies designing and building the next generation of nuclear reactors could pick one of two new tax credits available to carbon-free electricity generators, such as wind and solar. To ensure coal communities have a place in the energy transition, both tax credits include a 10-percentage point bonus for facilities sited where residents have relied on fossil fuel plants or mining— a “sizeable incentive” to locate them there, according to Matt Crozat, senior director for strategy and policy development at the Nuclear Energy Institute.

That could include towns in coal-dependent West Virginia, since the state eliminated a ban on nuclear power plants this year. Or in Maryland, where the state announced a partnership in June to look at repurposing a fossil fuel site for a small nuclear reactor. Or in Montana, where lawmakers are looking at advanced nuclear reactors as a possible replacement for coal boilers.

Staffan Qvist, an expert in energy systems analysis and decarbonization strategies, has extensively researched the feasibility of replacing coal plants with emissions-free alternatives in China and Poland. He found that coal plants often make ideal sites for advanced, high-temperature nuclear reactors.

“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.”

A design by NuScale Power is the first to be fully certified in the United States and the company is planning to begin operating a small modular reactor in 2029 at the Idaho National Laboratory. The company’s chief financial officer, Chris Colbert, said former coal plants are ideal locations for advanced nuclear technology, in part because transmission lines are already in place.

Colbert also said he thinks potential customers will be more interested in the company’s small advanced reactors because of the incentives in the bill.

There are nearly $375 billion in climate incentives in the Inflation Reduction Act. Among them, there’s a new tax credit available to any carbon-free electricity generator. That includes new advanced nuclear reactors that begin construction in 2025 or later. Existing nuclear plants that expand their output could get credit for that additional electricity production. The credit is worth at least $25 per megawatt-hour for the first decade the plant operates, according to NEI, the industry’s trade association.

Or, owners of a new carbon-free electricity generator could take advantage of an investment tax credit, worth 30% of the amount they paid to build the facility.

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.

The incentives are a game changer for the nuclear energy industry, said Jacopo Buongiorno, professor of nuclear science and engineering at the Massachusetts Institute of Technology. Buongiorno has studied the future of nuclear energy in a carbon-constrained world.

“This is really substantial,” he said as he read the list of tax credits. “This should move the needle in terms of making these technologies economically viable right off the bat.”

Buongiorno liked that the credits are available to many carbon-free technologies.

“It’s not just nuclear, it’s not just solar, it’s all of the above, which is what we have been preaching as the right approach for decarbonization,” he said. “You need to sort of push everybody here.”

But Grant Smith, a senior energy policy adviser at the Environmental Working Group, said tax credits for small modular nuclear units is a waste of taxpayer dollars. They divert resources from commercially-viable emerging technologies, Smith said, and stokes “the continuing false narrative of cheap, easily-deployed nuclear technology that the sector has been spinning for decades.” Smith leads the nonprofit’s work on accelerating the transition to renewables.

Georgia has the only nuclear project currently under construction in the U.S. Two traditional large reactors were projected to cost $14 billion and are now expected to cost more than $30 billion.

Because of that, Buongiorno said he’d be shocked if there is another order for a traditional large reactor in the U.S. The perception of financial risk, or project risk overall, would be too high, he said.

There are roughly 40 serious concepts in development for the next generation of advanced nuclear reactors worldwide, Qvist said. China was the first to connect one of the next generation of reactors to its grid to produce about 200 megawatts of electricity. A high-temperature, gas-cooled reactor began operating last year.

Kairos Power has applied for a permit to construct a test reactor in Oak Ridge, Tennessee. GE Hitachi is working on a reactor in Ontario, Canada, and if it’s successful, there’s a lot of interest in it in the United States, Poland and elsewhere in Europe, Qvist said.

The largest public power company in the U.S., the Tennessee Valley Authority, launched a program this year to develop and fund new small modular nuclear reactors as part of its strategy to dramatically reduce greenhouse gas emissions. The TVA is focused on GE Hitachi’s design.

At least a dozen advanced reactors are projected to come online in the 2020s.

“It’s not far off and it’s not speculative and it’s not on paper,” Qvist said. “There are actually a lot of things really happening.”

———-

Wildeman reported from Hartford, Conn.

The post Climate bill: Could coal communities shift to nuclear? appeared first on Associated Press.

Tags: AP Top Newsbill gatesClimate and environmentEnergy industryGovernment and politicsKemmererPoliticsScienceTechnologyU.S. NewsWorld NewsWyoming
Share202Tweet126Share

Trending Posts

South Carolina grandmother accused of helping grandson cover up murder

South Carolina grandmother accused of helping grandson cover up murder

January 31, 2023
Iran and Russia move toward linking their banking systems, helping both withstand Western sanctions.

Iran and Russia move toward linking their banking systems, helping both withstand Western sanctions.

January 31, 2023
New Zealand ruling party’s popularity soars after Jacinda Ardern resignation

New Zealand ruling party’s popularity soars after Jacinda Ardern resignation

January 31, 2023
Macron tells French government to ‘man the front lines’ during pension strike

Macron tells French government to ‘man the front lines’ during pension strike

January 31, 2023
How the Supreme Court Protects Police Officers

How the Supreme Court Protects Police Officers

January 31, 2023

Copyright © 2023.

Site Navigation

  • About
  • Advertise
  • Privacy & Policy
  • Contact

Follow Us

No Result
View All Result
  • Home
  • News
    • U.S.
    • World
    • Politics
    • Opinion
    • Business
    • Crime
    • Education
    • Environment
    • Science
  • Entertainment
    • Culture
    • Gaming
    • Music
    • Movie
    • Sports
    • Television
    • Theater
  • Tech
    • Apps
    • Autos
    • Gear
    • Mobile
    • Startup
  • Lifestyle
    • Arts
    • Fashion
    • Food
    • Health
    • Travel

Copyright © 2023.

We use cookies on our website to give you the most relevant experience by remembering your preferences and repeat visits. By clicking “Accept”, you consent to the use of ALL the cookies.
Cookie settingsACCEPT
Privacy & Cookies Policy

Privacy Overview

This website uses cookies to improve your experience while you navigate through the website. Out of these cookies, the cookies that are categorized as necessary are stored on your browser as they are essential for the working of basic functionalities of the website. We also use third-party cookies that help us analyze and understand how you use this website. These cookies will be stored in your browser only with your consent. You also have the option to opt-out of these cookies. But opting out of some of these cookies may have an effect on your browsing experience.
Necessary
Always Enabled
Necessary cookies are absolutely essential for the website to function properly. This category only includes cookies that ensures basic functionalities and security features of the website. These cookies do not store any personal information.
Non-necessary
Any cookies that may not be particularly necessary for the website to function and is used specifically to collect user personal data via analytics, ads, other embedded contents are termed as non-necessary cookies. It is mandatory to procure user consent prior to running these cookies on your website.
SAVE & ACCEPT