House passes nuclear power production tax credit in Build Back Better Act
ECA Staff | 11/19/2021
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Today the House passed the Build Back Better Act, a $2.2 trillion package that contains spending for several Biden Administration priorities, including clean energy and climate programs.
One provision in the bill would create a new tax credit program for production of electricity at nuclear power facilities. According to a House summary, Section 136108 provides “a base credit rate of 0.3 cents/kilowatt hour and a bonus credit rate of 1.5 cents/kilowatt hour for electricity produced by the taxpayer and sold to an unrelated person during the taxable year.” The bonus credit rates are available if taxpayers “satisfy prevailing wage requirement for
the alteration or repair of the facility for the taxable year.” The program will begin in 2022 and terminate at the end of 2027.
The passage of the Build Back Better Act comes a week after the House passed the bipartisan infrastructure bill, which also included several nuclear energy-related provisions, such as investments in advance nuclear infrastructure and the existing nuclear fleet.
A section-by-section summary of the Build Back Better Act is available here.
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"CAPITALIZING ON A NEW ERA OF CLEANUP
SUCCESS"
December 7-9, 2021
Hilton Alexandria Mark Center
Alexandria, Virginia
If you have already registered for the Workshop, you will not need to re-register. If you need to register, please click here. If you have questions, please contact Autumn Bogus at abogus@la-inc.com or (865)
300-1061.
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OPPORTUNITIES FOR ENGAGEMENT
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DECEMBER 6
On Thursday, December 6, from 11:00 AM – 3:00 PM ET, the Committee on Merits and Viability of Different Nuclear Fuel Cycles and Technology Options and the Waste Aspects of Advanced Nuclear Reactors will hear from the sponsor U.S. Department of Energy-Office of Nuclear Energy (DOE-NE), congressional staff
from the appropriations committees, an expert on China’s advanced nuclear energy systems, and an expert on the U.S. advanced nuclear programs.
The meeting information is below:
WEBEX MEETING LINK
Meeting number: 2764 170 4525
Password: ekHPhJp4i35 (35474574 from phones and video systems)
The committee welcomes input and will host public comment sessions at the end of each public session. Attendance is open and free to the public. Both public sessions will be held exclusively online and will be recorded. The recordings will be made available pending permissions and processing time.
Agenda and connection information may also be accessed here.
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TerraPower to build advanced reactor demonstration plant in Wyoming
ECA Staff | 11/17/2021
On November 16, TerraPower announced Kemmerer, Wyoming as the future home for the Natrium reactor demonstration project. Founded by Bill Gates, TerraPower collaborated with GE-Hitachi to develop the advanced reactor demonstration project - one of two competitively-selected projects supported by the Department of Energy (DOE).
According to TerraPower's announcement, "The company selected the Kemmerer location, near the Naughton Power Plant, following an extensive evaluation process and meetings with community members and leaders."
“People across Wyoming welcomed us into their communities over the past several months, and we are excited to work with PacifiCorp to build the first Natrium plant in Kemmerer,” said Chris Levesque, president and CEO of TerraPower, referring to the plant's future operator. “Our innovative technology will help ensure the continued production of reliable electricity while also transitioning our energy system and creating new, good-paying jobs in
Wyoming.”
"The demonstration plant is intended to validate the design, construction and operational features of the Natrium technology," the announcement reads. "The project features a 345 MW sodium-cooled fast reactor with a molten salt-based energy storage system. The storage technology can boost the system’s output to 500 MW of power when needed, which is equivalent to the energy required to power around 400,000 homes. The energy storage capability allows the
plant to integrate seamlessly with renewable resources."
The plant's approximately $4 billion price tag will be funded by TerraPower and DOE.
“President Biden signed the Bipartisan Infrastructure Deal and today DOE is already putting it to work with more than $1.5 billion heading to Wyoming,” Secretary of Energy Jennifer Granholm said. “The energy communities that have powered us for generations have real opportunities to power our clean energy future through projects just like this one, that provide good-paying jobs and usher in the next wave of nuclear technologies.”
According to TerraPower, "The demonstration project team evaluated a variety of factors when selecting the site of the Naughton Power Plant, where the remaining two coal units are scheduled to retire in 2025. Factors included community support, the physical characteristics of the site, the ability of the site to obtain a license from the Nuclear Regulatory Commission, access to existing infrastructure, and the needs of the grid."
The plant is expected to be operational in the next seven years and will require an estimated 2,000 workers for construction at its peak. Once operational, the plant will employee approximately 250 people.
Read TerraPower's announcement here.
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DOE awards $8.5 million to advance promising nuclear technologies
DOE Office of Nuclear Energy | 11/18/2021
On November 18, the Department of Energy (DOE) awarded $8.5 million to help commercialize promising advanced nuclear technologies. The funding supports five industry-led projects across the country and leverages the latest modeling and simulation tools developed by DOE, in addition to siting analysis and other research activities that will inform the future deployment of advanced reactors on islands or for the potential use in maritime applications.
“Advanced reactors will completely change the way we engineer, build, and operate nuclear reactors,” said Dr. Kathryn Huff, Principal Deputy Assistant Secretary for Nuclear Energy. “These awards support technical and regulatory strides necessary for commercializing new carbon-free nuclear technologies poised to help our nation reach net-zero emissions by 2050.”
The awards are funded through the Office of Nuclear Energy’s U.S. Industry Opportunities for Advanced Nuclear Technology Development funding opportunity, which has invested more than $215 million in advanced nuclear technologies since 2017. The solicitations are broken down into three funding pathways to support first-of-a-kind nuclear demonstration readiness projects, advanced reactor development projects, and direct regulatory assistance.
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Read about DOE's High Level Waste Interpretation
Have questions about DOE’s recent high-level waste (HLW) interpretation? Download ECA’s Key Points and FAQs on the issue to better understand what ECA believes are the potential benefits of implementation.
Interested in learning more? Read the ECA report “Making Informed Decisions on DOE's Proposed High Level Waste Definition” at www.energyca.org/publications
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Stay Current on Activities in the DOE World
Read the latest edition of the ECA Bulletin, a regular newsletter providing a detailed brief of ECA activities, legislative news, and major events from across the DOE complex. Have suggestions for future editions? Email bulletin@energyca.org.
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Learn More about Cleanup Sites with ECA's DOE Site Profiles
ECA's new site profiles detail DOE's 13 active Environmental Management cleanup sites and national laboratories, highlighting their history, missions, and priorities. The profiles are a key source for media, stakeholders, and the public to learn more about DOE site activities, contractors, advisory boards, and their surrounding local governments.
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