Congresswoman Mary Bono Mack (CA-45) today applauded the Department of Energy (DOE)'s loan guarantee program that will help expand clean, emissions-free nuclear power in the U.S. Bono Mack noted DOE's announcement this afternoon that over nineteen new applications from electric power companies across the nation have been submitted to DOE to pursue nuclear facility projects and increase production of clean, alternative energy for Americans.
"Nuclear power is a key component of the all-of-the-above' approach to addressing our nation's energy needs by diversifying our energy mix, reducing our dependence on foreign oil and increasing our energy efficiency," said Bono Mack. "Already, countries across the world are benefitting from advanced nuclear power, and it is time that we do too," said Bono Mack. "This federal loan guarantee program will help us embrace emissions-free nuclear power as a real and proven alternative and bring cleaner, more affordable energy online for Americans."
DOE and the U.S. nuclear industry have partnered to share the cost of programs to improve the design and licensing processes of the first new nuclear power plants to be constructed in the U.S. in over 20 years. If all projects are constructed, they would add 28,800 megawatts of clean, emissions-free, base load electric generating capacity.
The authority to offer and enter into loan guarantees for nuclear power projects and front end nuclear facilities was granted by Congress in the Consolidated Appropriations Act, 2008, which Bono Mack supported. Similar authority was also granted under that Act for loan guarantees for renewable energy and fossil energy projects for an overall total of up to $38.5 billion.