While it is true that the Energy Policy Act of 2005 included provisions for a production tax credit for NEW nuclear power plants, that provision has not yet resulted in a single dime going from the federal government to a nuclear project to help defray the enormous hurdles erected by the federal government to slow nuclear energy development down. The production tax credit does not start helping until after the plant is actually producing electricity.
The PTC included in the EPA 2005 was quite limited:
Only available to the first 6,000 MW of new nuclear using technologies licensed after 1998 - which means that Watts Bar Unit II will not qualify and neither would the completion of the Bellefonte plants (which is a project that was considered and is now back on hold.)
Not adjusted for inflation. While the PTC for solar and wind is now 2.3 cents per kilowatt hour, the PTC rate for new nuclear - once the plants are completed - WILL be 1.8 cents per kilowatt hour.
No more than $125 million for any one reactor in any calendar year. If an AP1000 runs for a full year because it only needs to shut down for refueling, it could use up its PTC allowance in about 10 months and then operate for the next two months without any additional support.
Only available for the first 8 years of operation.
Only applicable for a plant that enters commercial service before the beginning of 2022. That means that it is unlikely to apply to any of the currently proposed SMR projects, though the very first B&W mPower unit MIGHT make it in time.
Rod Adams, Publisher, Atomic Insights