Renewables Held Hostage to Nuclear Loan Guarantee Expansion

Further twisting the meaning of “clean energy” as the Kerry-Lieberman "climate" bill undermines environmental protections and promotes dirty energy industries at taxpayer risk and expense,  the Obama administration and Democratic House leaders have reportedly agreed to attach $90 million to a pending war spending bill in order to expand the nuclear power loan guarantee fund by $9 billion. This would accelerate the construction of three new atomic power plants in Maryland (Calvert Cliffs 3), South Carolina (two reactors at Summer), and Texas (South Texas Project Units 3 and 4). The nuclear power industry has long tried to hitch a ride on renewable energy and energy efficiency's popularity, such as last year when it joined with renewables associations to urge the expansion of energy loan guarantees at taxpayer expense, or last week when it stood with the American Wind Energy Association at the National Press Club. Constellation Energy is even underwriting nuclear power, wind power, and energy efficiency in the same breath on National Public Radio ads, as if these aren't mutually exclusive; its ad campaigns blur its nuclear goals with a renewables smokescreen. But nuclear power cannot solve the climate crisis or even its own serious problems, while renewables and efficiency can. In fact, "negawatts" and "micro power" are whipping nuclear power in the free market, and have been for years and even decades, a hopeful trend that is speeding up over time. But taxpayer support for nuclear power, as proposed by Senators Kerry and Lieberman, undermines those very free market forces, squelching the competitive promise of renewables/efficiency, much to the atomic industry's delight. To paraphrase long-time congressional atomic watchdog Ed Markey, Orwell's spinning so fast in his grave he should be connected to the electric grid! As shown by this latest deal, nuclear power stands to gain $9 billion of financing at taxpayer risk, "in exchange," politically, for solar to get only $1 billion.* Such Faustian bargains will continue to garner the atomic industry the lion's share, while renewables and efficiency are left with the crumbs. This would repeat the past half-century of failed energy policy in this country. Contact the White House at (202) 456-1111, and House Speaker Nancy Pelosi at (202) 225-0100. Urge President Obama and Speaker Pelosi to support the real solutions to the climate crisis -- renewables and efficiency -- but not at the taxpayer expense of further subsidizing dirty, dangerous, and expensive nuclear power.

*Correction: Renewables are also getting $9 billion (Sec. 1703, not 1705 -- the article cited above was inaccurate). However, this is not as good as it looks: DOE already has more loan guarantee authority than demand from the renewables industries, which are not willing to pay the associated subsidy fees required for receiving loan guarantees in the first place.