Going Nuclear Again
Bubba
02 Oct
Nuclear energy in the U.S. might be poised for a comeback. (Reuters)
The latest: The U.S. government on Monday said it had approved a $1.52 billion loan to Holtec to reopen the Palisades nuclear plant in Michigan.
In response to America’s growing demand for electricity and climate change concerns, the Biden administration wants to triple U.S. nuclear power capacity.
Related: Last month, Constellation Energy announced the Three Mile Island nuclear plant will reopen in 2028 to power Microsoft's data centers.
The project will create 3,400 jobs and generate over $3 billion in state and federal taxes.
Big picture: Nuclear power, one of the cleanest and safest energy sources, generated 18.6% of U.S. electricity in 2023.
Construction of nuclear reactors slowed drastically in the 70s following a partial meltdown at Three Mile Island.
But thanks to increased electricity demand from AI data centers, new factories and electric vehicles, we may be in the midst of a nuclear revival.
According to an International Energy Agency report from January, global nuclear power generation is expected to break records in 2025 as more countries invest in reactors.
Axios energy reporter Ben Geman:
It's the most hopeful moment for U.S. nuclear power in a very long time.
The vibes: The share of Americans who think we need more nuclear has been growing.
Chart: Pew Research Center