Nuclear power is the nation’s largest source of emissions-free electricity generation, accounting for 50.4% of domestic emissions-free electricity generation and 19.7% of total electricity generation. Nuclear energy also provides the largest share of power for both of North Carolina’s Power Agencies: 50% for the N.C. Eastern Municipal Power Agency and 97.2% for N.C. Municipal Power Agency No. 1. NCMPA1 owns 75% of Catawba Unit 2 in York County, South Carolina, operated by Duke Energy.
Because it plays a key role in ensuring reliable and affordable power for North Carolina and is an indispensable tool to meet any carbon-reduction goals, we support policies that support or enhance existing nuclear power generation and provide the financial and regulatory environment required to develop advanced nuclear technologies:
- We support a federal Nuclear Production Tax Credit to stabilize existing plants and encourage advanced nuclear technologies. That credit must be “refundable” or otherwise made equally available to municipal utilities and other nontaxable entities.
- We support the construction of a consolidated interim storage facility in a willing host community and the construction of a final repository for nuclear waste.
- We support efforts to further the development of small modular reactors (SMRs) and other advanced nuclear reactors, including licensing and commercialization of such technologies, which will be necessary to generate reliable, emissions-free electricity.
- SMRs are small nuclear reactors that will be able to generate up to 300 megawatts of power and be linked together to provide incremental power as load grows.
- SMRs could yield significant economic, energy security, and environmental benefits and are expected to be an attractive option for generating electricity from an emissions-free energy source and could provide utilities with flexibility through scalability and plant siting.