From New Bedford, for New England||(508) 4999-SUN
Home / Solar Power / $17 billion a year to bail out the nukes

Trump wants to bail out nukes and coal plants because some old guy from Ohio is going bankrupt. $17 billion a year. This doesn’t build anything new. This doesn’t advance our actions. This simply takes your money and gives it to a dying industry.

The whole of the solar power industry was $20-30 billion in 2017 in the USA. The incentives given to the industry – mostly in the form of a tax credit – are one offs that lead to projects being built that last for decades. This incentive will be given to the nukes every single year to keep them open for a decade or two more.

On the other side of the coin – I do want these nukes to stay open because more often than not, in these places the nukes will be replaced with gas. And CO2 free. Really though we ought have a greenhouse gas tax on all coal/gas electricity production and we wouldn’t need to bail the nukes. But we’re soft still and we’re going to try this path.

As an aside – the Attorney General of Massachusetts says this program by Trump is illegal.

SOURCETrump administration’s proposal that would require grid operators to buy power from nuclear plants could cost US consumers up to $17 billion a year in “artificially high electricity bills” and adding subsidies for coal-fired plants could potentially double that, according to the anti-nuclear Nuclear Information & Resource Service.

By John Fitzgerald Weaver

John Fitzgerald Weaver is a solar developer; known digitally as the 'Commercial Solar Guy.' As a project developer and installer, he’s sold and managed 50+ solar projects, valued over $25 million, ranging in size from 5kW to 1500kW. He’s been involved in many aspects of the solar supply chain –- as a company founder, developer, project manager, manufacturer, permit runner, salesman, contractor and financier. In his free time he tries to get away and clear his mind by climbing mountains, or more regularly by enjoying an IPA or scotch, and really loves the strange connection between politics, energy, finance, and environment in the energy world.

Related Posts