Washington – Today, Senator Todd Young of Indiana announced S. 3653, the Reinvigorating American Energy Infrastructure Act, that would make available federal loan guarantees for high efficiency, low emissions (HELE) coal plants. Two types of advanced coal units would be eligible for loan guarantees under the bill. One is units larger than 300 megawatts (MW); the other is modular units smaller than 300 MW. Loan guarantees for modular units would complement efforts by the Department of Energy (DOE) to develop and demonstrate modular designs for coal units that increase efficiency, lower CO2 emissions, minimize construction costs, and shorten project development time. To be eligible, both types of HELE units must be designed to achieve an efficiency of at least 40% and be capable of accommodating carbon capture and storage technology in the future.
America’s Power (ACCCE) issued the following statement by Michelle Bloodworth, President and CEO:
“Having a coal fleet is essential to ensuring that our nation’s electricity grid is reliable and resilient. Senator Young’s bill is an important step toward deploying the next generation of advanced coal plants to replace the coal plants that are retiring. This new generation will meet strict environmental standards and result in CO2 emissions 25% to 40% lower than the coal fleet today,” said Bloodworth. “We commend Senator Young for his leadership and look forward to explaining the importance of the coal fleet to the Members of the 116th Congress.”
Forty percent of the U.S. coal fleet has either retired or announced plans to retire. Among its other advantages, the coal fleet provides fuel security. The Department of Energy, North American Electric Reliability Corporation, grid operators and other policymakers have expressed concerns that coal retirements are becoming a risk to the resilience of the electricity grid.
America’s Power (ACCCE) is a partnership of industries involved in the production of electricity from coal. Coal is an affordable, reliable, and fuel-secure electricity source that provides almost one-third of our nation’s electricity.