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The sector will benefit from federal subsidies since the House of Representatives’ draft budget legislation retains tax incentives for new and existing nuclear facilities but requires them to begin construction before January 1, 2029.
The plan is to triple domestic nuclear power generation over the next 25 years, boosting capacity from around 100 gigawatts to 400 gigawatts by 2050.
This comes as the U.S. Department of Energy announced on Tuesday that the long-idle nuclear reactor at Pennsylvania’s Three Mile Island, which is contracted to provide power to Microsoft data centers, will be restarted with the help of a $1 billion loan.
