House Bill 25-1040 Introduced

A Bill for an Act

• Page 1, Line 101Concerning the inclusion of nuclear energy as a source of

• Page 1, Line 102clean energy.

Bill Summary

(Note: This summary applies to this bill as introduced and does not reflect any amendments that may be subsequently adopted. If this bill passes third reading in the house of introduction, a bill summary that applies to the reengrossed version of this bill will be available at http://leg.colorado.gov.)

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.

• Page 2, Line 1Be it enacted by the General Assembly of the State of Colorado:

• Page 2, Line 2SECTION 1.  Legislative declaration. (1)  The general assembly

• Page 2, Line 3finds that:

• Page 2, Line 4(a)  Colorado's estimated electricity peak demand is projected to

• Page 2, Line 5double in the next 5 years;

• Page 2, Line 6(b)  The current path to eliminating greenhouse gas emissions in

• Page 2, Line 7Colorado includes only the use of wind and solar power and battery

• Page 2, Line 8storage;

• Page 2, Line 9(c)  Providing more options for generating electricity in Colorado

• Page 2, Line 10will lead to a less expensive and a more reliable path to eliminating

• Page 2, Line 11greenhouse gas emissions;

• Page 2, Line 12(d)  Advanced nuclear energy can produce higher quantities of

• Page 2, Line 13clean energy with a smaller land footprint than other clean energy

• Page 2, Line 14sources;

• Page 2, Line 15(e)  Small modular nuclear reactors can replace coal power plants

• Page 2, Line 16while maintaining the number of jobs in the communities in which the

• Page 2, Line 17coal power plants are located;

• Page 2, Line 18(f)  New designs for advanced nuclear reactors are being

• Page 2, Line 19developed by entrepreneurial companies in the United States seeking to

• Page 2, Line 20increase the value of nuclear technology within our energy system. It is

• Page 2, Line 21estimated that the designs will be commercially operational this decade

• Page 2, Line 22and will be ready for large-scale deployment by the 2030s to help meet

• Page 2, Line 23domestic and global clean energy needs.

• Page 2, Line 24(g)  The development of a small modular reactor can create up to

• Page 2, Line 25900 jobs lasting up to 4 years, as well as up to 300 permanent jobs.

• Page 3, Line 1(2)  The general assembly further finds that:

• Page 3, Line 2(a)  Coloradans care about clean energy; to that end, nuclear

• Page 3, Line 3energy:

• Page 3, Line 4(I)  Is currently the single largest source of carbon-free electricity

• Page 3, Line 5generation in the United States and around the world, with 94 nuclear

• Page 3, Line 6reactors in the United States alone generating about 50% of the country's

• Page 3, Line 7carbon-free electricity;

• Page 3, Line 8(II)  Does not produce carbon dioxide, thus offsetting carbon

• Page 3, Line 9emissions; and

• Page 3, Line 10(III)  Should be included in the statutory definitions of "clean

• Page 3, Line 11energy" and "clean energy resource";

• Page 3, Line 12(b)  In adding nuclear energy to the statutory definitions of "clean

• Page 3, Line 13energy" and "clean energy resource", Colorado can continue to spearhead

• Page 3, Line 14energy innovations that align with the state's goals of keeping energy

• Page 3, Line 15affordable;

• Page 3, Line 16(c)  On its own, nuclear energy has a 92.7% capacity factor, which

• Page 3, Line 17refers to the percentage of time that an electricity-generating source is

• Page 3, Line 18able to generate electricity, and is a much higher capacity factor than for

• Page 3, Line 19all other generation sources;

• Page 3, Line 20(d)  Because nuclear energy has such a high capacity factor,

• Page 3, Line 21utilizing nuclear energy as a source of clean energy will help Colorado

• Page 3, Line 22prevent future blackouts and brownouts;

• Page 3, Line 23(e)  Nuclear energy can be utilized in conjunction with existing

• Page 3, Line 24clean energy sources to lower energy costs for Coloradans and maintain

• Page 3, Line 25a reliable source of electricity;

• Page 3, Line 26(f)  Adding nuclear energy to the statutory definitions of "clean

• Page 3, Line 27energy" and "clean energy resource" will attract continued public and

• Page 4, Line 1private research funding for innovations in clean energy technology;

• Page 4, Line 2(g)  Due to current funding levels, nuclear reactor designs that help

• Page 4, Line 3decarbonize hard-to-reach industries and locations already exist; and

• Page 4, Line 4(h)  New innovations such as microreactors would benefit rural

• Page 4, Line 5areas by keeping the energy source serving those areas local.

• Page 4, Line 6(3)  Therefore, the general assembly declares that it is in the best

• Page 4, Line 7interest of Colorado to add nuclear energy to the statutory definitions of

• Page 4, Line 8"clean energy" and "clean energy resource".

• Page 4, Line 9SECTION 2.  In Colorado Revised Statutes, 30-20-1202, amend

• Page 4, Line 10(2) as follows:

• Page 4, Line 1130-20-1202.  Definitions. As used in this part 12, unless the

• Page 4, Line 12context otherwise requires:

• Page 4, Line 13(2)  "Clean energy" means energy derived from biomass, as

• Page 4, Line 14defined in section 40-2-124 (1)(a)(I); C.R.S., geothermal energy; solar

• Page 4, Line 15energy; small hydroelectricity; and nuclear energy, including

• Page 4, Line 16nuclear energy projects awarded funding through the United

• Page 4, Line 17States department of energy's advanced nuclear reactor

• Page 4, Line 18programs; wind energy; as well as any and hydrogen derived from any

• Page 4, Line 19of the foregoing other energy sources listed in this subsection (2).

• Page 4, Line 20SECTION 3.  In Colorado Revised Statutes, 40-2-125.5, amend

• Page 4, Line 21(2)(b) as follows:

• Page 4, Line 2240-2-125.5.  Carbon dioxide emission reductions - goal to

• Page 4, Line 23eliminate by 2050 - legislative declaration - interim targets -

• Page 4, Line 24submission and approval of plans - definitions - cost recovery -

• Page 4, Line 25reports - rules. (2)  Definitions. As used in this section, unless the

• Page 4, Line 26context otherwise requires:

• Page 4, Line 27(b) (I)  "Clean energy resource" means any electricity-generating

• Page 5, Line 1technology that generates or stores electricity without emitting carbon

• Page 5, Line 2dioxide into the atmosphere.

• Page 5, Line 3(II)  "Clean energy resources" include, without limitation,

• Page 5, Line 4resource" includes:

• Page 5, Line 5(A)  Eligible energy resources as defined in section 40-2-124

• Page 5, Line 6(1)(a); and

• Page 5, Line 7(B)  Nuclear energy, including nuclear energy projects

• Page 5, Line 8awarded funding through the United States department of

• Page 5, Line 9energy's advanced nuclear reactor programs.

• Page 5, Line 10SECTION 4.  In Colorado Revised Statutes, 39-4-101, amend

• Page 5, Line 11(2.4) as follows:

• Page 5, Line 1239-4-101.  Definitions. As used in this article 4, unless the context

• Page 5, Line 13otherwise requires:

• Page 5, Line 14(2.4) (a)  Except as provided in subsection (2.4)(b) of this

• Page 5, Line 15section, "clean energy resource" has the same meaning as set forth in

• Page 5, Line 16section 40-2-125.5 (2)(b).

• Page 5, Line 17(b)  "Clean energy resource" does not include nuclear

• Page 5, Line 18energy generated by a public utility.

• Page 5, Line 19SECTION 5.  Act subject to petition - effective date. This act

• Page 5, Line 20takes effect at 12:01 a.m. on the day following the expiration of the

• Page 5, Line 21ninety-day period after final adjournment of the general assembly; except

• Page 5, Line 22that, if a referendum petition is filed pursuant to section 1 (3) of article V

• Page 5, Line 23of the state constitution against this act or an item, section, or part of this

• Page 5, Line 24act within such period, then the act, item, section, or part will not take

• Page 5, Line 25effect unless approved by the people at the general election to be held in

• Page 5, Line 26November 2026 and, in such case, will take effect on the date of the

• Page 5, Line 27official declaration of the vote thereon by the governor.