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Last year, a new governor took office in Indiana, made nuclear power a top energy priority in parallel with the Trump administration and secured nuclear-industry expert Suzie Jaworowski as secretary of energy and natural resources.
One year in, what’s the state of Indiana nuclear amid a national race to bring back this zero-carbon, reliable energy tech? Here are five things you need to know.
1. Indiana made big moves and scored a nuclear company.
Out of the gate, the Braun administration worked to distinguish itself in the national race for new nuclear. There were executive orders to enshrine it as a priority. New laws incentivizing both deployment and manufacturing on the books. Pulling off the state’s first-ever international nuclear conference — the Purdue Global Nuclear Energy Economic Summit — and seeing to the launch of Purdue’s Institute for Energy Innovation. Check and check.
The crown jewel was scoring an actual new nuclear startup. It’s a clear proof of concept. First American Nuclear Co. will locate its headquarters and manufacturing plants in Indiana and plans to deploy its tech in an energy park — initially powered by natural gas with plans to add in SMRs — over six to eight years.
2. Washington and tech companies are full throttle.
Washington’s big, bipartisan 2024 ADVANCE Act and aggressive prioritization by the new presidential administration have injected grants and loan programs, streamlined a historically glacial regulatory process, and made this energy tech a national security priority.
In tandem, tech companies hungry to fuel their energy-intense data centers are fronting capital and locking in multidecade power deals. Notably for Indiana, which just broke ground on Meta’s giant LEAP data center project, the tech giant announced last month one of the largest nuclear power purchases in history.
3. Financing is the crux.
For nuclear, the grand challenge is financing. Who exactly will bear the burden of building nuclear and its complex supply chain remains unclear. Tech companies? The feds or the state? Ratepayers? Getting a sleepy industry to roar back to life is not cheap.
Indiana has made attempts with initial cost-sharing laws and a 20% manufacturing tax credit. But more innovation is needed.
This could include creative tax structures, novel public-private arrangements or even leveraging philanthropy to de-risk nuclear’s path forward.
The biggest unlock still seems to be securing tech companies to commit as long-term anchor buyers. But why couldn’t Indiana’s Fortune 500 companies—like Eli Lilly and Co., which is building a supercomputer—also jump in?
4. NIMBYism presents a major risk.
Seventy of Indiana’s 92 counties have solar and wind bans, and a maelstrom of anti-energy development sentiment pervades the state. It’s very easy to see this translate to new nuclear.
Indiana must act now. Being straight, clear, proactive and quick to respond in communicating with Hoosier residents is essential.
5. Indiana must compete in the 50-state race.
Indiana must not get comfortable. It’s competing with many other attractive states. We’ll always be at a certain disadvantage to Texas, which has a state budget and tech ecosystem far larger than ours, or to Tennessee and Michigan, which already operate commercial plants.
We must distinguish ourselves with ingenuity around finance and coordination and by playing an incredible communications game to lure tech companies and the federal government here.
Additionally, given our manufacturing and academic strength, Indiana might consider dominating a portion of nuclear supply chains rather than racing to be the first to deploy reactors.
In short, year one for Indiana has been strong. Let’s keep up the momentum and get new nuclear right.•
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Gemelas is chief operating officer at Climate Solutions Fund, outstanding fellow of Mitch Daniels Leadership Foundation and a proud Greek-American. Send comments to [email protected].
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