(Zerohedge) – The United States is about to experience a resurgence in nuclear energy. The federal government is expected to continue restarting shuttered nuclear power plants in the coming years to meet the increasing demand for clean, dependable energy essential for powering the economy of tomorrow.
“There are a couple of nuclear power plants that we probably should, and can, turn back on,” Jigar Shah, director of the US Energy Department’s Loan Programs Office, told Bloomberg in an interview.
In March, Shah’s office approved a loan to Holtec International Corp. to reopen the Palisades nuclear plant in Michigan. This was a historical shift, and it was the first nuclear power plant to be reopened in the US, setting a precedent for atomic energy to make a triumphal comeback. The plant could begin producing power as early as the second half of 2025.
Shah said, “A lot of the other players that have a nuclear power plant that has recently shut down and could be turned back on are gaining that confidence to try.” He declined to give specifics about which plants were slated to reopen.
Nuclear power is the largest single source of carbon-free electricity. Given onshoring trends, electrification of transportation and buildings, and, of course, as noted in “The Next AI Trade,” the proliferation of AI data centers will overload power grids nationwide unless a significant upgrade is seen.
The trend is only gaining steam as the revival of nuclear power plants will continue benefiting some of the largest uranium producers, such as Cameco.
As a whole, uranium stocks have soared…
Here are recent comments from Patti Poppe, the chief executive officer of Pacific Gas & Electric.
Poppe told a Stanford University forum that nuclear power should continue to be part of California’s power generation mix as efforts to decarbonize the grid.
“Nuclear should be part of the future,” she said, noting that the state’s only nuclear power plant – Diablo Canyon – could be granted a license extension through the 2030s by the Nuclear Regulatory Commission.
So there it is: Nuclear is being revived at a time when the nation’s grid is nearing a major upgrade due to rising power demand.
