US nuclear power set for a boost as China rises

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Jun 18, 2024 View in browser   By Arianna Skibell A cooling tower at the Salem nuclear power plant in New Jersey is seen in 2017. | Mel Evans/AP Nuclear power is one energy source that both Democrats and Republicans support — but in recent decades, planning and building a major reactor in the U.S. has become nearly impossible. That’s why the Biden administration is planning a $900 million shot in the arm for small advanced reactors that could be built and deployed more easily, writes Zach Bright — in hopes of speeding the deployment of carbon-free energy that’s available 24 hours a day. Congress is also poised to pass a bipartisan bill this week to accelerate the licensing process for the technology. It would be the most federal support the industry has seen in about two decades. One factor is adding urgency to the chase: China’s competitive edge in building the next generation of reactors. The China factor: While the United States remains the world’s nuclear leader, accounting for one-third of global output, China is catching up fast. The U.S. is 10 to 15 years behind China on nuclear power technology, according to a new report by the Information Technology and Innovation Foundation. China is building 27 reactors, with a goal of 150 new reactors by 2035. The U.S. is building zero — and its most recent major nuclear power project, a $30 billion-plus expansion of Plant Vogtle in Georgia, came in years later than scheduled and more than double its original cost estimate before it finally opened last year. “If the United States is to again become a leader in the nuclear reactor industry, it will need to likewise adopt a coherent national strategy and a ‘whole-of-government’ approach” similar to China’s, the foundation report said. Still waiting for a renaissance: President Joe Biden has made nuclear power a key component in his efforts to clean up the electric grid’s climate pollution. But in competitive energy markets, nuclear power hasn’t fared as well as less expensive natural gas generation and renewable power. So far, small modular reactors have also proved too expensive for commercial developers to bring online. The only U.S. developer with a design approved by the Nuclear Regulatory Commission scrapped a major project in Idaho late last year. Disposing of reactors’ radioactive waste is also fraught, as the U.S. continues to lack a permanent repository. And nuclear material in the wrong hands can prove deadly. That has led many environmental groups to oppose efforts to boost nuclear power, despite the climate benefits. "The Senate and President Biden must quickly come to their senses and reject the dangerous and unaffordable false promises of toxic nuclear energy,” Food and Water Watch Executive Director Wenonah Hauter said in a recent statement.   It's Tuesday — thank you for tuning in to POLITICO's Power Switch. I'm your host, Arianna Skibell. Power Switch is brought to you by the journalists behind E&E News and POLITICO Energy. Send your tips, comments, questions to askibell@eenews.net. Programming Note: We’ll be off Wednesday for Juneteenth but will be back in your inboxes Thursday.   THE GOLD STANDARD OF DEFENSE POLICY REPORTING & INTELLIGENCE: POLITICO has more than 500 journalists delivering unrivaled reporting and illuminating the policy and regulatory landscape for those who need to know what’s next. Throughout the election and the legislative and regulatory pushes that will follow, POLITICO Pro is indispensable to those who need to make informed decisions fast. 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Get the premier news and policy intelligence service, SUBSCRIBE TO POLITICO PRO TODAY.     Listen to today’s POLITICO Energy podcast Today in POLITICO Energy’s podcast: Anthony Adragna and Josh Siegel break down what it could mean for Sen. Mike Lee (R-Utah), one of the GOP's most outspoken climate change skeptics, to lead the party in the Energy and Natural Resources Committee next year. Power Centers Donors say they're committed to funding geoengineering research. | Donald Miralle/Getty Images Flubbed climate test won’t deter rich donors Wealthy philanthropists with ties to Wall Street and Silicon Valley are unbowed by a botched climate experiment aiming to limit the amount of sunlight hitting the Earth, write Corbin Hiar and Blanca Begert. Backers of the controversial program by the University of Washington to reflect sun rays by altering clouds told Corbin and Blanca they plan to continue bankrolling future solar geoengineering tests as temperatures catapult upward. Follow the money Conservatives trying to combat climate change may not see eye-to-eye with their liberal counterparts on a host of issues, but they do share funding sources, Timothy Cama and Kelsey Brugger found in a new analysis. Philanthropic donors that fund Democratic-aligned green groups such as the League of Conservation Voters are also spending millions on “eco-right” groups, such as the American Conservation Coalition. Rogue Austrian minister saves EU nature law The European Union proved it can still pass a green bill Monday when it advanced the Nature Restoration Law, a central pillar of the bloc’s efforts to reverse the major degradation of its landscapes, writes Louise Guillot. All it took was a rogue Austrian minister willing to throw away her job, get sued by her own government and potentially tank her entire coalition. In Other News In photos: Scenes from the extreme hot weather around the world. Out of cash: The electric vehicle startup Fisker filed for bankruptcy.   JOIN US ON 6/26 FOR A TALK ON AMERICA’S SUPPLY CHAIN: From the energy grid to defense factories, America’s critical sites and services are a national priority. Keeping them up and running means staying ahead of the threat and protecting the supply chains that feed into them. POLITICO will convene U.S. leaders from agencies, Congress and the industry on June 26 to discuss the latest challenges and solutions for protecting the supply lines into America’s critical infrastructure. REGISTER HERE.     Subscriber Zone A showcase of some of our best subscriber content. Sen. Mike Lee is likely to become the top Republican on the Senate Energy and Natural Resources Commission. | Francis Chung/POLITICO Congressional Republicans who have sought to soften their party’s opposition to climate change action in recent years may be poised to elevate one of their most outspoken skeptics to lead a prominent Senate panel. A California startup that uses seawater-splitting technology to pull carbon dioxide from the atmosphere is planning to build the world's first commercial-scale ocean carbon removal plant in Canada. A federal judge in Texas dismissed a lawsuit from Exxon Mobil in which the oil giant sought to push back on shareholder activists and raise larger questions around how the Securities and Exchange Commission runs the proxy process. That's it for today, folks! Thanks for reading.   Follow us on Twitter Arianna Skibell @ariannaskibell   Follow us

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