The Biden administration is launching a $6 billion effort to rescue nuclear power plants at risk of closing, citing the need to continue nuclear energy as a carbon-free source of power that helps to combat climate change.
WASHINGTON —
A strong majority of states — about two-thirds — say nuclear, in one fashion or another, will help take the place of fossil fuels. Twenty more reactors faced closure in the last decade before states stepped in to save them, according to the Nuclear Energy Institute, the industry’s trade association. Illinois is spending nearly $700 million to keep three plants open while additional renewable resources come online.
While natural gas may be cheaper, nuclear power hasn’t been given credit for its carbon-free contribution to the grid and that has caused nuclear plants to struggle financially, Griffith added. David Schlissel, at the Ohio-based Institute for Energy Economics and Financial Analysis, said he wishes the federal government, before it allocated the $6 billion, had analyzed whether that money might have been better spent on ramping up renewables, battery storage and energy efficiency projects, which can be done quickly and cheaply to displace fossil fuels.
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