What Trump 2.0 means for nuclear energy

Phil Chaffee, Editor of Nuclear Intelligence Weekly and Bureau Chief of Energy Intelligence’s New York offices, joins me to discuss the implications of a second Trump administration on U.S. nuclear energy. Will the tantalizing nuclear power purchase agreements signed by hyperscalers evaporate as carbon pricing becomes less likely? Will free-market ideology manage to sustain the government support needed to deploy nuclear power at scale? We speculate about these questions and more. Tune in!

Note: This interview was recorded 20 November 2024.
Episode title on podcast platforms: The End of an IRA?

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[bubbajones]

There's no question mark around hydrogen. It was never going to happen.

[rexmann]

Tells us what these acronyms mean please. Lpo ppa wtf? I only figured out what IRA was through context.

[marblackCanada]

I roll my eyes every time I hear the mentions free enterprise.

[microcolonel]

I think DOGE NRC recommendations could easily be worth more than any IRA subsidy. There should be no tax breaks... because there should not be taxes on energy production.

[williamgrebenik]

You are discussing nuclear policy that was part of the Inflation Reduction Act. That was a tiny part of this massive bill. This is why there was resistance to the IRA:


Major components:

Clean Energy Investments: The IRA includes $128 billion for renewable energy and grid energy storage. This includes tax credits for solar, wind, geothermal, and other renewable energy sources2.

Healthcare: The bill extends Affordable Care Act subsidies for three years, aiming to make healthcare more affordable.

Corporate Tax Reforms: The IRA introduces reforms to the corporate tax code to enhance economic fairness.

IRS Expansion: The bill includes a significant expansion of the Internal Revenue Service (IRS), with the hiring of up to 87, 000 new employees to improve customer service and ensure tax compliance.

Climate Change Mitigation: The IRA aims to reduce greenhouse gas emissions by 40% below 2005 levels by 2030.

Energy Security: The bill focuses on reducing consumer energy costs and increasing energy security.

Tax Incentives: The IRA enhances or creates more than 20 tax incentives for clean energy and manufacturing, with bonuses for investments in communities and workers

[seancollins]

Moving to a shall issue permit strategy should be the help the industry needs

[scottmedwid]

I can see an alliances of US municipal electric and rural electric cooperatives joining together in clean power purchase agreements that would have them buy in to several Baraka style nuclear build projects around the country at existing nuclear locations. I know people at my old local municipal electric and my current rural electric cooperative support nuclear power and even advanced reactor concepts like MSR and IFR especially if the US government can clear a path towards rapid prototyping permitting of existing nuclear license applicants that are working their way through the NRC. Let's just get these new machines cooking ASAP.

[scottmedwid]

US listeners, call and write your county and state representatives to keep US . Nuclear MOUs, Keep the nuclear parts of the IRA. The big change I see here is that young folks that I talk to that College age number one don't fear nuclear power as they wanted and many are excited about expanding it.

[jasonneugebauer]

If nuclear can only be viable in a highly subsidised market even after the initial cost of building the plant is paid for, how is nuclear suposed to be efficient and green when the unsubsidized market sais it is not?

[PorpoiseSeeker]

His pick for Secretary of Energy< Chris Wright, is hopeful. Search out Robert Bryce's interview with Chris Wright. Bryce says he's a realist. He's on the board of Oklo. He's positioned to support advanced geothermal with fracking services. He understands the energy market. He knows that the long pole in the tent is industrial process heat. He's on the board of Oklo. Maybe the tax incentives for wind and solar will slow or stop.
I thinks there is reason for optimism.

[chaptertravels]

Throwing Inflation Induction Act money at nuclear is simply a really expensive bandaid with no staying power. It's less of a waste than VRE, but that's about it.

[Hazmatt]

Energy Nationalism? Is this the new buzz-phrase for energy independance? EVERY country should, as much as practicable, be energy independent. That is not nationalistic. That is responsible policy.

[RandoBox]

49:00 - Sources have confirmed that that ship did not load any EUP.

[davidwilkie]

The outstanding character of the predator-prey/Forever War is to not know what you don't want to know.., which is what Upton Sinclair said about the deliberate ignorance of where the money comes from, whose interest it belongs to, and why it's basically the opposite of a contribution to good government. Who is left not knowing this?

[TheDanEdwards]

Trump is an agent of chaos, so one should expect all sorts of disruptions. And with him ranting on about putting tariffs on stuff from Canada, as a Canadian you should expect much more than just nuclear energy policy chaos.

[DavidL-iiyn]

"Republicans have always liked nuclear... I can't account why there there has always been this conservative-coded appeal for nuclear" - because nuclear power fundamentally creates economic wealth for the nation... but also specifically makes a huge amount of money for investors.

[Yitreaux]

IRA? or IRS? Something to do nuclear power operators?

[steammaker]

we need it all! fossil fuels, solar, wind, hydro, and nuclear

[iancormie]

How cheap can gas get? Wait until mantenance is deferred or stopped, and the gas system falls all apart. Gas will very quickly get a lot more expensive.

[waywardgeologist]

42:52 import export bank, gone. DOE gone. IRA, gone. DOGE is going to cut, and the nuclear industry needs to adjust to finding their funding in the private market. Maybe Bill Gates is right in funding the construction of his reactor.