The nitty gritty: The current budget package calls for ending the zero-emission nuclear power production tax credit (PTC; section 45U) a year early on December 31, 2031—which is two years later than previously proposed by House Republicans. The clean energy PTC (section 45Y) will be available for advanced nuclear projects and nuclear facility expansions under construction by December 31, 2028. The clean electricity investment tax credit (Section 48E) has most of the same language as the clean energy PTC (in 45Y) but does not include expansions of current nuclear sites. The House budget package also pulled back on lending from the Department of Energy’s Loan Programs Office.
The cancellation of these credits will help offset a range of tax cuts in the legislative bill, including the extension of the 2017 Trump tax cuts, the Washington Examiner reported.
More nuclear news : A notable change is the addition of exemptions for advanced nuclear reactors and nuclear facility expansions from a provision that would disqualify any other clean energy project that isn’t under construction within 60 days of the budget bill enactment.
The language in the nuclear exemptions attached to the tax credits would likely cover power uprates and reactor restarts with no placed-in-service deadline, which could benefit numerous nuclear companies. The tax credits would remain transferable, too, which helps give more flexibility to projects.
