- The Biden administration approved $1.1 billion to support the continued operation of Diablo Canyon, California’s last nuclear power plant, as part of a $6 billion initiative to preserve aging nuclear facilities and promote clean energy.
- Environmental concerns persist regarding the safety and economic impact of extending the lifespan of older nuclear plants, with critics advocating for investment in renewable energy sources like solar and wind instead.
- After its closure in 2022, Palisades Nuclear Power plant receives and updated 1.5 billion in loans from the Biden Administration.
The Biden administration recently granted preliminary approval for a $1.1 billion subsidy to maintain operations at California’s Diablo Canyon, the state’s last functioning nuclear power plant. This funding is part of a larger $6 billion initiative aimed at supporting nuclear facilities that are financially underperforming, as a move to sustain carbon-free energy sources critical for meeting the administration’s 2030 climate goals.
While Diablo Canyon received support to potentially extend its service beyond the planned 2025 shutdown, the administration revives financial assistance for the revival of Michigan’s Palisades nuclear plant, which ceased operations in 2022.
This decision aligns with broader efforts under President Biden’s infrastructure plan to strengthen the U.S.’s nuclear power infrastructure against the economic and operational challenges facing older plants. These measures also include opportunities for re-licensing and continuous operational support, amidst concerns from environmental groups about the safety and fiscal implications of prolonging the life of aging facilities.