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Welcome back! And heads up on the Hill next Wednesday:
Our ED Rich Powell will testify before the Senate Foreign Relations Subcommittee on East Asia, the Pacific, and International Cybersecurity Policy on July 21. Watch the livestream
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.
Let’s dive in.
1. Key energy provisions clear bipartisan committee vote
The bipartisan infrastructure framework that passed out of the Senate Energy & Natural Resources Committee Wednesday includes a slate of measures to boost clean energy innovation.
The path ahead: Leader Schumer intends
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to bring the framework to the floor next week, and the final legislation could include provisions that will fund critical Energy Act of 2020 authorizations, as well as new programs:
SCALE Act support to build out the pipelines needed to carry captured carbon to facilities that can sequester or use it in manufacturing.
Funding for demonstrations of carbon capture, nuclear, energy storage, advanced geothermal, and industrial projects.
Similar to ANIA, it authorizes a program to support premature nuclear shutdowns.
Direct Air Capture hubs to accelerate technology development and early deployment.
First rewrite of hydrogen R&D programs in 15 years to demonstrate integrated production, delivery, and end use of this zero-carbon fuel.
2. Inside the Senate’s new nuclear bill
The American Nuclear Infrastructure Act unveiled
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yesterday marks a huge milestone in balancing the needs of America’s existing and next-gen reactors.
What’s clear: We’ll need both if we’re serious about building a clean energy future.
What it does: A whole lot, including regulatory reform and broader international development and investments.
For existing reactors, ANIA creates a targeted credit program to prevent premature shutdowns.
For new ones, the bill offers prizes to the first advanced reactor designs to get approved licenses.
Where things stand: We’ve already lost nearly 8 gigawatts of nuclear-generating capacity since 2013, with another 8 gigawatts’ worth slated to close by 2024.
That’s a lot of carbon-free power we need to make up.
The path ahead: To deploy any next-gen designs, we still need to remove the risk for first-movers and mount new demonstration programs and testing facilities.
3. NET Power behind UK’s first net-zero power plant
The planned Whitetail Clean Energy
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station will capture and store its natural gas emissions offshore using technology from NET Power
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— a company based in North Carolina’s Research Triangle.
The players: U.S. clean energy firm 8 Rivers and Sembcorp
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, a Singapore-based energy company, will collaborate on the buildout.
What’s clear: The UK’s energy minister called it a “real game-changer
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," and we agree — this proves the value of R&D, encourages similar clean energy developments, and will ultimately lead to lower global emissions.
4. DOE doubles down on better storage
The agency announced new plans to deliver on its 2020 goal of cutting costs for “grid-scale, long duration energy storage by 90% within the decade.”
How we got here: The “Long Duration Storage Shot
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” builds on years of bipartisan initiatives and appropriations in both the House and Senate for energy storage, including:
The BEST Act — Better Energy Storage Technology — enacted last December as part of the Energy Act of 2020.
The Trump Administration’s Energy Storage Grand Challenge.
What’s clear: The two predecessors provide a framework to bolster American competitiveness, ensuring American technological innovations can be built here and exported around the world.
Rewind: DOE announced
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a sustainable “Hydrogen Shot” in early June.
Plug in: Our own Alex Fitzsimmons unpacks the new plan
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.
5. Carbon capture gets more bipartisan love
Reps. Tim Burchett (R-TN) and Terri Sewell’s (D-AL) new Carbon Capture Improvement Act
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is the latest sign of growing momentum.
The bill would allow industry — think power plants and direct air capture facilities — to use the 45Q tax credit to finance carbon capture equipment.
The co-sponsors: Maria Elvira Salazar (R-FL) ... David McKinley (R-WV) ... Clay Higgins (R-LA) ... Andrew Garbarino (R-NY) … and Brian Mast (R-FL).
The path ahead: There’s already a bipartisan companion bill from Sens. Rob Portman (R-PA) and Michael Bennet (D-CO) referred to Senate Finance, and this bill is heading to House Ways and Means.
6. Two shots at permitting reform
Rep. David Schweikert (R-AZ) introduced
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two pieces of legislation focused on streamlining the federal permitting process.
Both bills cut red tape from project permitting processes, saving tax dollars and accelerating our energy transition.
What’s clear: How fast we curb climate change depends directly on how fast we greenlight clean energy
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projects.
Rich’s take: Shorter timelines will make the whole process more efficient, enabling quicker rollouts and ensuring “all communities benefit from clean energy projects.”
7. Advanced reactor heads to Tennessee
Officials at Kairos Power just announced
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plans to build a nuclear demonstration reactor in Oak Ridge, TN.
Details: The Hermes reactor will showcase the company’s ability to deliver low-cost nuclear heat and provide affordable, carbon-free energy.
Kairos will invest $100 million and create 55 jobs to get Hermes online in 2026.
They received funding for its design, licensing, and construction from the DOE Office of Nuclear Energy’s program for Risk Reduction projects.
What’s clear: Advanced nuclear technologies are still in the early days, but once they are demonstrated to work and commercialize, they have the potential to transform the global energy landscape and reduce carbon dioxide emissions all over the world.
8. ICYMI
31 clean hydrogen projects got a boost in DOE funding
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to accelerate breakthroughs in the sector.
Basic fusion research funding is also funneling into seven companies
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selected by DOE’s INFUSE program to help commercialize cost-effective fusion energy technologies.
GM will get lithium from California — not South America — for its next-gen EV batteries, in an agreement
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with Controlled Thermal Resources to co-produce lithium with geothermal energy.
9. Coming down the pipeline
July 19 – Atlantic Council hosts a conversation examining the role nuclear energy will play
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in helping the U.S. reach net-zero.
August 6 – The Breakthrough Institute hosts an energy infrastructure panel on how to build fast and fair
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, featuring our own Jena Lococo.
10. One cool thing: Nuclear-powered Bitcoin
Oklo’s advanced fission powerhouses will provide clean, reliable, and affordable baseload power for Compass’ Bitcoin mining machines starting in the early 2020s, according to a 20-year commercial partnership announced
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earlier this week.
Even cooler: They shouldn’t need to refuel for that entire two decades, while recycling spent fuel into more clean energy.
What’s clear:
Companies are seriously considering advanced nuclear energy as a decarbonization solution.
Advanced nuclear facilities can be smaller and have longer refueling times than traditional nuclear power, which means they can power new industries and be deployed in new locations.
Clean, reliable nuclear energy pairs well with facilities that require around-the-clock electricity.
That’s all for today. Have a great weekend!
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