In the early 2000s, the Energy Policy Act of 2005 provided significant incentives for nuclear power, including loan guarantees and cost-overrun support. But momentum was stymied by several factors, including the availability of cheap natural gas, slow electricity demand growth, and safety concerns following the Fukushima disaster in 2011. Driven by the need for clean, reliable power to meet climate goals and growing energy demands, the landscape has shifted. 

Both the Trump and Biden administrations have recognized the importance of nuclear energy in achieving energy security and climate goals. The U.S. has joined over 20 other nations in pledging to triple nuclear energy capacity globally by 2050. This commitment includes supporting the development and construction of new reactors, mobilizing investments, and promoting resilient supply chains. Preliminary research indicates that a substantial portion of this new capacity could come from existing and recently retired nuclear power plant sites. Legislation has been passed to increase subsidies for new and existing nuclear plants, further bolstering the industry’s growth.

The Bipartisan Infrastructure Law and the Inflation Reduction Act have provided substantial federal funding, loan authority, and new tax incentives to extend reactor operations, increase capacity, and restart retired reactors. The Department of Energy (DOE) has also released updated reports to accelerate the deployment of advanced nuclear technologies and estimates that the U.S. will need an additional 700 to 900 gigawatts (GW) of clean firm power to reach net-zero emissions.

Nuclear energy is also uniquely positioned to meet the increasing energy requirements of data centers and high-performance computing thanks to its ability to provide reliable, around-the-clock power. One of the most promising developments is the focus on small modular reactors (SMRs). These reactors are designed to be more cost-effective and quicker to build compared to traditional large reactors. NuScale Power, for instance, has received regulatory approval for its SMR design, marking a significant milestone in the commercialization of advanced nuclear technologies.

Nuclear Energy in New Jersey

New Jersey is home to three nuclear power plants: Salem, Hope Creek, and Oyster Creek. The Salem and Hope Creek plants, located in Salem County, produce nearly 40% of the state’s electricity and 90% of its carbon-free energy. Oyster Creek, located in Ocean County, is currently being decommissioned. The state is actively seeking to extend the licenses of its operating plants for another 20 years to ensure a stable energy supply.

Nuclear Energy in New York

New York’s nuclear energy landscape has seen significant changes. The state shuttered its primary nuclear power plant, Indian Point, in 2021, leading to a spike in fossil fuel emissions. However, Governor Kathy Hochul is now pushing for the adoption of advanced nuclear technologies to help meet the state’s climate goals. New York’s remaining nuclear plants, Ginna, Nine Mile Point, and FitzPatrick, continue to provide a significant portion of the state’s carbon-free power.

Nuclear Energy in Connecticut, Pennsylvania, Delaware, and Maryland

Connecticut’s Millstone Power Station is the state’s only nuclear plant, providing nearly half of the state’s electricity and supporting over 3,900 jobs. Pennsylvania, a historical hub for nuclear power, hosts four active reactors that produce almost 25% of the state’s energy. And Microsoft is working with Consellation Energy to restart Three Mile Island to power Microsoft’s data centers. Delaware does not have any operating nuclear reactors, but Maryland’s Calvert Cliffs Nuclear Power Plant generates about 40% of the state’s electricity and 82% of its carbon-free energy.

The nuclear energy renaissance in the United States is a multifaceted effort involving technological innovation, supportive policies, and significant investment. As the nation strives to meet its climate goals and growing energy demands, nuclear power is poised to play a crucial role in providing clean, reliable energy for the future.

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