Government takes first-ever action to restart domestic nuclear site: 'Yet another step'
A plant in Michigan could be the first nuclear plant in the U.S. to restart operations after shuttering. That's the aim of the Holtec Palisades nuclear plant.
According to Reuters, the U.S. Department of Energy announced on March 17 that it had "disbursed $57 million of an up to $1.52 billion loan guarantee for Holtec's Palisades nuclear plant."
The "conditional loan guarantee" was part of the previous administration's efforts to support nuclear energy to keep up with demand for electric vehicles, artificial intelligence, and digital currency.
The $57 million is the second disbursement of the loan guarantee. The first disbursement of about $38 million occurred in January.
Power Magazine stated that the loan guarantee is part of the Energy Infrastructure Reinvestment program under the Inflation Reduction Act, passed by Congress in 2022.
According to the power company Entergy, the plant was shut down on May 20, 2022, after generating electricity for 50 years. In June, Entergy sold the plant to Holtec International "to ensure a safe and timely decommissioning of the nuclear site."
In a press release, Energy Secretary Chris Wright said, "[This] action is yet another step toward advancing President [Donald] Trump's commitment to increase domestic energy production, bolster our security, and lower costs for the American people."
One benefit of nuclear energy is job creation, according to the DOE. It said, "Domestic nuclear power plants can employ up to 800 workers with salaries that are 50% higher than those of other generation sources." Nuclear energy can also add money to the local economy.
Plus, nuclear energy is better for the environment than dirty energy sources. Almost half the United States' pollution-free electricity comes from nuclear. That prevents more than 471 million metric tons of toxic gases from being released into the atmosphere each year.
The DOE said that is "the equivalent of removing 100 million cars off of the road."
Which of these factors would most effectively convince you to support nuclear energy projects in your area?
Lower energy bills
Safety and reliability
More local jobs
Environmental benefits
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