New Funding for Nuclear Power Aims to Produce Energy Savings for New Yorkers

Funding from the federal Inflation Reduction Act will boost nuclear power in New York and help lower the utility bills of millions living in the state, Gov. Kathy Hochul said this week. Funding from the federal nuclear production tax credit, part of President Joe Biden's  Inflation Reduction Act (IRA), will go to nuclear reactors in the state while helping to "support New York’s nuclear power plants to deliver zero emissions electricity for New Yorkers," Hochul said in a statement. As a result of the funding, New Yorkers could receive hundreds of millions of dollars in cost savings, as early as 2025. Learn more.