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ClearPath Action Rundown

May 31st 2024

Happy Friday!

1. Major industry players to partner on clean energy tech

Duke Energy, Amazon, Google, Microsoft and Nucor announced agreements

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to explore ways to power their facilities with zero-emissions energy generation in the Carolinas. These installations require clean, reliable power that technologies like nuclear, geothermal and CCUS can provide.

The companies proposed developing new rate structures to potentially:

Allow large industry to build clean power on-site,

Lower the long-term costs of investing in clean energy tech, like new nuclear and long-duration storage; and

Avoid the risks of increases to ratepayers.

What’s clear: America’s largest corporations view clean energy sources such as new nuclear energy as key to meeting their rapidly increasing energy demand. An agreement like this could be a win-win for deploying more clean power and keeping energy costs stable for consumers.



2. Rep. Curtis on C.O.B. Tuesday: Energy must be affordable, reliable and clean

Rep. John Curtis (R-UT) appeared on energy research and investment firm Veriten’s C.O.B. Tuesday podcast

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to discuss climate, energy independence and economic stability.

What’s clear: Veriten’s C.O.B. Tuesday is one of our favorite podcasts, and great to hear Rep. Curtis

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talk about his role helping Republicans lead on American clean energy innovation, positioning the world to reduce global emissions.

Plug-in: Click here

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to listen to the full interview.



3. Treasury releases proposed 45Y and 48E tax credit guidance



This week, the Treasury released a Notice of Proposed Rulemaking on the 45Y and 48E

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tech neutral clean energy tax credits. ClearPath will be examining the guidance closely, but some provisions that look promising include:

Restarts of facilities that have closed for 1+ years and are subsequently relicensed are considered eligible as new resources. This could benefit some existing nuclear facilities.

New geothermal and nuclear technologies are included in the guidance.

The proposed rule includes a safe harbor provision for trace emissions from facilities that are approved as zero emissions facilities.

Treasury has requested specific comments on various carbon capture provisions, start and end points for the life cycle analysis (LCA), among others.

What’s clear: Perhaps the most important of all the existing clean energy tax credits are the ones that folks have talked about the least. The 45Y and 48E credits are zero-emissions credits on both the production credit side and the investment credit side.

Plug-in: If you’re curious how these credits work, they are similar to the Energy Sector Innovation Credit (ESIC)

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, legislation introduced by a bipartisan group of policymakers including Republican Senators Mike Crapo (R-ID), John Barrasso (R-WY), Bill Cassidy (R-LA), and Jim Risch (R-ID) and Representatives David Schweikert (R-AZ), Darin LaHood (R-IL), Carol Miller (R-WV), Elise Stefanik (R-NY), Byron Donalds (R-FL), Michael Burgess (R-TX) and William Timmons (R-SC). Check out this whiteboard video

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to learn more.



4. ClearPath at World Hydrogen North America

(L-R) Dwayne Pickett, Vice President Hydrogen Market Development, Constellation; Dr. Jeremy Hartvigsen, Research Engineer, Idaho National Laboratory; Natalie Houghtalen, Hydrogen and Nuclear Policy Advisor, ClearPath

ClearPath attended the World Hydrogen North America

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conference to discuss the future of hydrogen. ClearPath’s Policy Advisor Natalie Houghtalen moderated a panel on:

The benefits of nuclear energy for large-scale H2 production,

Maximizing efficiency of H2 production with high-temperature electrolysis, and

How the 45V tax incentive needs to be technology-inclusive to support the hydrogen hubs funded by the Bipartisan Infrastructure Law.

(L-R) ClearPath Policy Associate Emma Quigg and Policy Advisor Natalie Houghtalen

What’s clear: Hydrogen is a solution for the power, industrial and transportation sectors. Developing a tech-neutral final 45V rule can reduce emissions and encourage further investment which will complement the regional hydrogen hubs.



5. Lessons in advanced nuclear fuel

You may be familiar with ClearPath’s Tech 101 series, where we give you a top-level understanding of exciting technologies and innovative climate solutions. We are excited to share that our 201 is now available for advanced nuclear fuel!

What’s clear: Nuclear energy provides reliable, efficient and emissions-free power to our grid. To unleash even more American nuclear energy potential and lead in innovation, the U.S. must secure the nuclear fuel supply chain.

Plug-in: Learn more about innovations in nuclear fuel and the policies accelerating their development in the Advanced Nuclear Fuel 201

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.



6. ClearPath in the CSIS Accelerator Series

Congratulations to ClearPath’s Policy Advisor Jasmine Yu on her admission to the 2024-2025 cohort of the CSIS Accelerator Series

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.

Jasmine will join experts from different sectors across DC, working with top industry leadership coaches, to develop new leadership, management, communication and other professional skills to help advance their careers.

Congratulations, Jasmine!



7. Finalists for CDR prize

DOE announced

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24 semifinalists to receive funding to scale up their carbon dioxide removal (CDR) technologies. Funded by the Bipartisan Infrastructure Law, the CDR Purchase Pilot Prize allows companies to compete for the opportunity to deliver CDR credits directly to DOE. The winners demonstrate solutions in:

Direct air capture;

Biomass (BiCRS) technologies;

Enhanced geological weathering and enhanced mineralization technologies; and

Planned and managed carbon sinks.

U.S. DOE CDR Purchase Pilot Prize Semifinalists by State

What’s clear: Demand-pull tools, like the CDR Purchase Pilot Prize, send a strong signal to the private sector to commercialize these solutions, accelerating cost declines and catalyzing innovation.



That's all from us. Thanks for reading and have a great weekend!

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