Trump Administration Funds Coal Plant Modernization as EV Incentives Lag
The Trump administration has allocated $625 million for modernizing and restarting coal power plants. Meanwhile, the IRS's slow processing of EV incentives leaves dealers in limbo. State lawmakers push for rapid clean energy development, while the Energy Department considers repurposing plutonium for power plants.
The Trump administration's $625 million funding aims to modernize coal power plants and bring retired ones back online. This move comes as state lawmakers across PJM urge the grid operator to expedite clean energy development and interconnection.
The IRS's delay in approving and paying out federal incentives for EV purchases has left dealers uncertain about reimbursement. A nonprofit estimates up to $283 million in unspent federal funding for EV charging stations may be lost.
The U.S. Energy Department contemplates diverting plutonium from the nuclear weapons stockpile for use in power plants. This proposal follows Vistra's announcement of a 20-year power purchase agreement for its Comanche nuclear power plant.
Leasing auctions for 14,000 acres of coal mining land in four states began today. Virtual power plant provider Voltus has partnered with data center developer Cloverleaf Infrastructure for a financing program.
Bloomberg Intelligence predicts a $350 billion investment in U.S. nuclear power by 2050, with a 63% increase in reactor output. Vistra plans to build two new gas power plants totaling 860 MW in Texas. Additionally, Dow Chemical is set to construct new nuclear power plants in Texas using small modular reactors and gas-cooled high-temperature reactors to reduce emissions.
The Trump administration's funding for coal power plants and the Energy Department's consideration of repurposing plutonium signal a shift in energy policy. Meanwhile, the slow processing of EV incentives and potential loss of funding highlight the need for streamlined processes. The predicted investment in nuclear power and plans for new gas and nuclear plants indicate a diverse energy landscape in the coming decades.
Read also:
- Tesla is reportedly staying away from the solid-state battery trend, as suggested by indications from CATL and Panasonic.
- UK automaker, Jaguar Land Rover, to commit £500 million for electric vehicle manufacturing in Merseyside
- Tesla's 37th week update: Stock remains steady, potential successor for Musk, unveiling of new megapack, fuel reveal delayed until IAA event
- Lieutenant Governor Kounalakis joins SoCalGas in unveiling the novel H2 Hydrogen Innovation Experience, a one-of-a-kind demonstration.
