Biden Administration Launches $6 Billion Nuclear Power Credit Program

In line with the goal to transition the U.S. to clean energy by 2035, the Biden administration launched a credit program to help struggling nuclear power plants with rising operational costs.

Timothy Gardner, Reuters

The Biden administration on April 19 opened applications for a $6 billion program to help nuclear power plants struggling with rising costs as it seeks to stop the generators from shutting down under its goal of transitioning to clean energy.

The U.S. nuclear power industry's 93 reactors generate more than half of the country's carbon-free electricity, according to the Department of Energy (DOE). However, 12 reactors have closed since 2013 in the face of competition from renewable energy and plants that burn plentiful natural gas.

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