"President Joe Biden’s administration on Wednesday finalized approval of $1.1 billion to help keep California’s last operating nuclear power plant running. "
Because renewable energy sources are too expensive?
"President Joe Biden’s administration on Wednesday finalized approval of $1.1 billion to help keep California’s last operating nuclear power plant running. "
Because renewable energy sources are too expensive?
It’s about the term of investment, since these massive projects take decades and most private investment can’t afford to think that far in the long term.
If it was all about profit-making, coal, oil and gas get you way better return on investment than renewables (25% compared to 5-6%), even if in the long term it is harmful (increased healthcare spending treating cancer and environmental damage), and an unsustainable model.
As for why the US government needs to pay the private sector to do a job it could just do itself? Well that’s for Americans to answer, but what I see is a lot of waving hands around nebulous “efficiencies”.