With its aggressive push to eliminate fossil fuels, New York is embracing its four nuclear plants as clean energy sources. The plan received a big boost from the federal government in the form of millions in tax credits from a $369 billion pot of money devoted to nuclear energy as part of the massive Inflation Reduction Act.
“There is a lot to be excited about in this landmark legislation, and the Office of Nuclear Energy can’t wait to support the IRA’s implementation,” said the federal agency responsible for doling out the funds.
With its support of the nuclear industry, “The IRA is the most significant piece of climate legislation in U.S. history,” according to the nuclear energy office. “Multiple incentives pave the way for our nuclear energy sector to help ensure energy security and cut U.S. emissions by 40% before the end of the decade.”
“The Inflation Reduction Act has been critical to helping New Yorkers lower utility costs, while also helping the state reduce emissions and confront the global challenge of climate change,” Governor Hochul said. “We appreciate the strong partnership with President Biden, his Administration and New York’s Democratic Congressional Delegation to advance a more affordable and more livable New York through energy affordability and zero emissions electricity.”
The drastic policy shift may come as a shock to the many New York residents who railed against nuclear power, successfully blocking the opening of the Shoreham Nuclear Power Station on the north shore of Long Island and forcing the closure of the last Indian Point Energy Center reactor about 25 miles north of Midtown Manhattan. New Yorkers are still paying for the multi-billion-dollar Shoreham plant which was powered up with nuclear fuel, but never commercially operated. The last of the three reactors at Indian Point was shut down in 2021 by then-Gov. Andrew Cuomo bowing to pressure from environmentalists.
The embrace of nuclear as a clean, carbon-free energy source sets up an ironic dichotomy between green energy advocates who are also concerned about the potential hazards of nuclear power. The Democrat policies seek to reduce statewide greenhouse gas emissions 40 percent by 2030, and no less than 85 percent by 2050, from 1990 levels. Under the goals of the state’s Climate Act, New York’s electric grid must be 100 percent zero-emission by 2040.
According to the federal energy office, “Momentum is building for U.S. nuclear energy, and the investments and tax incentives included in IRA guarantee a commitment to nuclear energy that will continue well throughout the nation’s journey to net-zero.”
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New York has four remaining nuclear facilities: The Ginna Nuclear Power Plant in Ontario, the James A. FitzPatrick Nuclear Power Plant in Scriba, and the Nine Mile Point Units 1 and 2, also in Scriba. All four of the generating stations are on the southern shore of Lake Ontario and provide what’s known as “baseload” energy, power that’s available all of the time, unlike solar or wind, which are intermittent sources.
In 2016, the Public Service Commission created the New York Zero Emission Credit (ZEC) program to support nuclear power and its zero-emissions attributes. The state’s four atomic plants were confirmed by the PSC as meeting the public necessity standard for clean energy.
In lauding the IRA funding to support nuclear generation, PSC Chairman Rory M. Christian said, “I applaud President Biden, Governor Hochul and the U.S. Congress for their efforts to ensure the Inflation Reduction Act will support the continued operation of significant measures to address climate change. Most importantly, with the Production Tax Credits, the potential impact on consumers in states that have acted proactively to combat climate change should be addressed by recognizing the value of the environmental attributes associated with greenhouse gas-free generation of electricity at nuclear facilities.”
New York State Energy Research and Development Authority President and CEO Doreen M. Harris agreed: "This important federal support, made possible by President Biden's historic Inflation Reduction Act, will help ensure New York’s plants can continue to contribute to our nation-leading climate and clean energy goals while maximizing the opportunity to offer significant cost-savings to New Yorkers statewide.”
The state’s nuclear plants are operated by Constellation Energy which said it will use the tax credits to reduce the cost of the energy it produces to the ratepayers.
Critics of solar farms, windmills and other green energy generating facilities charge that the cost of these plants will be enormous, and without massive federal subsidies such as the ones earmarked for the nuclear industry, energy costs will be debilitating for New York residents and businesses.
The Empire State’s high cost of living and the crime wave caused by the pro-criminal policies of the same politicians who are pushing New York’s aggressive green energy goals have caused a record outmigration of residents to other states. New York leads the nation, along with California, in people bailing out for safer, less expensive areas. The remaining citizens fear that the working-class families leaving the state, along with retirees with pensions derived from the taxpayers, will be replaced by less-productive migrants who will be more reliant on government services.