President Obama Sets Aside $36 Billion for Nuclear Power Projects
President Obama recently announced he has designated $36 billion in loan guarantees for nuclear power-plant construction in his newly proposed budget for 2012, almost tripling loan guarantees for new nuclear construction.
An article in The Hill stated that the president also set aside more than $800 million for nuclear energy research, and the New York Times reported that $500 million will be allocated over the next five years for the development of small modular reactors.
This is good news for CASEnergy and the host of nuclear energy supporters across the country who understand the important role nuclear power plays in meeting America’s future electricity needs.
The fact that these dollars have been allocated toward nuclear energy is not a big surprise. During his State of the Union address in January, the president voiced his support for several clean energy sources, including nuclear, calling for a “clean-energy standard,” which would require that 80 percent of U.S. electricity come from low-pollution sources by 2035.
While nuclear energy is not a “silver bullet” to meet America’s increasing energy demands, it is encouraging to know that President Obama recognizes nuclear as a clean, safe and reliable technology that will also be a catalyst in helping to stimulate America’s economy through the creation of thousands of good-paying jobs and through significant economic output to local communities.
This news supports one of the four pillars in CASEnergy’s Policy Roadmap for Clean Energy, which calls for ensuring access to financing for clean energy projects. With the Administration’s support for nuclear energy, America is on the right track to realizing its clean energy future.
