Advanced Energy legislation from Colorado State Senator Bob Rankin (R-Carbondale) and House Leader Hugh McKean (R-Loveland), was heard in its first Senate committee on February 15, 2022. SB22-073 Advanced Energy Sources takes an all of the above approach to meeting Colorado’s future energy needs and emissions reductions goals.
The bill encourages Colorado to look at the possibility of small modular nuclear reactors by authorizing a feasibility study. The study would look at the policies, economics, safety, reliability and environmental impacts of the use of small modular nuclear reactors.
The bill also increases the current limit of pumped hydro storage facilities from 15 MW to 400 MW, opening the door to larger utility scale pumped hydro storage projects. Pumped hydro storage projects already must utilize renewable energy in order to be eligible under the definition of recycled energy so increasing the cap makes sense and would serve to benefit Colorado’s growing renewables industry.
Proponents of SB22-073 including, TWW’s Colorado Director Greg Brophy, Colorado Rural Electric Association, ClearPath, American Conservation Coalition, Nuclear Energy Institute, and several others laid out the bipartisan argument for why an all of the above approach to Colorado’s resource mix makes sense and looking at the feasibility of small modular nuclear and increasing pumped hydro storage would help ensure reliability through increased baseload and long duration storage.
“I am hopeful,” said Senator Bob Rankin. “I am hopeful that Democrats give careful consideration to this bill after hearing from professors, professionals, and experts in the field. I’m willing to work with Democrats however I can to get this bill across the finish line.”
In an opinion editorial published earlier this week, Judi Greenwald, the executive director of the Nuclear Innovation Alliance, stated that, “An essential first step to adopting advanced nuclear energy is for state policymakers, communities and stakeholders to understand the benefits of nuclear innovation…Colorado can start exploring this promising opportunity with a feasibility study for SMRs, as proposed in SB22-073.”
“Nuclear support has become a bipartisan issue in Washington for the first time in close to 40 years,” said Arthur Hyde of Segra Capital Management during his testimony. “Representatives on both sides of the aisle are beginning to understand the importance of investing in our nuclear future and are acting with a sense of urgency.”
SB-73 was laid over and the Senate Committee will vote on the bill on Thursday, February 17, 2022.