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Navigating risk in the renewable energy boom - NU PropertyCasualty360

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Navigating risk in the renewable energy boom

Government act includes a 10-year extension of the investment tax credit (ITC) for solar, wind, geothermal, and other zero-emission energy sources. (Credit: artjazz/Adobe Stock)

The 2022 Inflation Reduction Act (IRA) is poised to spur massive growth in renewable energy projects across the United States.

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Nuclear energy provides almost 20 percent of the U.S. electricity supply. Advocates have called for an expanded role for nuclear as an emissions-free fuel source. But the economics of building new reactors are daunting. In addition, lingering safety concerns are an institutionalized part of the calculation of nuclear regulation, and highly radioactive nuclear waste remains a can that public officials have been inclined to kick down the road. The Energy Information Administration projects a sharp decline in nuclear power generation over the next decade, as new nuclear plants — two are planned — are more than offset by anticipated retirements of several operating reactors.

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