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December 1st, 2023

WASHINGTON D.C. The NIA believes in the promise and potential of advanced nuclear energy and is committed to working in partnership with stakeholders to advance its commercialization. To realize this potential, robust policies are essential. In our latest report, we analyze the impact of technology neutral tax credits introduced in the Inflation Reduction Act (IRA) on new nuclear projects and discuss how they enhance competitiveness of advanced nuclear technologies. 

The following statement may be attributed to Nuclear Innovation Alliance Executive Director, Judi Greenwald, regarding the recent publication of “Implications of Inflation Reduction Act Tax Credits for Advanced Nuclear Energy”: 

"The IRA tax credits mark a turning point for advanced nuclear energy, ensuring that new nuclear projects can play a significant role in reducing emissions from electricity generation. We commend the foresight of policymakers in enabling new nuclear construction through the Production Tax Credit (PTC) and Investment Tax Credit (ITC) options under the IRA, which will play a crucial role in making advanced nuclear energy economically viable for both "first-of-a-kind" (FOAK) and "nth of a kind" (NOAK) advanced nuclear projects. We appreciate the attention Congress and the Administration are giving to these critical issues and recommend continued collaboration among policymakers and stakeholders to successfully utilize these tax credits to accelerate advanced nuclear energy commercialization in the United States.” 

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The Nuclear Innovation Alliance (NIA) is a non-profit think-and-do-tank dedicated to enabling nuclear power as a global solution to mitigate climate change. Through policy analysis, research, and education, we are catalyzing the next era of nuclear energy. Our organization is committed to fostering innovation and advancing nuclear technologies for a sustainable future.