The proposed bill, HB25-1040, seeks to include nuclear energy within Colorado's definitions of "clean energy" and "clean energy resource." This inclusion would make nuclear energy projects eligible for clean energy project financing at the county and city levels and allow qualifying retail utilities to use nuclear energy to meet the state's 2050 clean energy target. However, for property valuations made for tax purposes, the bill exempts nuclear energy generated by a public utility from the definition of "clean energy resource."
Supporters of the bill argue that incorporating nuclear energy can provide a reliable and low-carbon energy source, aiding in the transition from coal and supporting communities affected by coal plant closures. For instance, Garfield County commissioners have expressed support for classifying nuclear energy as clean, highlighting its potential benefits for local economies transitioning away from coal.
Summary
The statutory definition of clean energy determines which energy
projects are eligible for clean energy project financing at the county and city and county level. The statutory definition of clean energy resource determines which energy resources may be used by a qualifying retail utility to meet the 2050 clean energy target. The bill updates the 2 statutory definitions to include nuclear energy; except that for property valuations made for tax purposes, the bill exempts from the definition of clean energy resource nuclear energy generated by a public utility.
