Nuclear Energy Gets a Much-Needed Boost

From Bloomberg

President Joe Biden signed a bill into law that could well prove transformative for America’s energy future. Here’s hoping — whatever happens in November’s election — that more progress lies ahead.

Known as the Advance Act, the bill seeks to remedy some long-standing flaws in nuclear-energy regulation. To reach net zero, the world will need to roughly double its nuclear capacity by 2050, according to the International Energy Agency. Yet constructing new nuclear plants in the US is expensive, time-consuming and encumbered by red tape. Partly as a result, the industry has stagnated: The share of electricity generated by nuclear is projected to decline to about 12% by 2050, from about 18% today.

The Advance Act should help reverse that trend.