NextEra CEO Calls for 450 Gigawatts of Generation in Five Years

John Ketchum, the chairman and CEO of NextEra Energy, one of the largest electric power and energy infrastructure companies in North America, has emphasized the importance of investing in infrastructure and prioritizing America's interests. He believes that these efforts should not be divisive but rather a unifying force for the nation.

Ketchum highlights that America has always risen to challenges, from the first successful airplane flight to landing a man on the moon. Today, the country faces new challenges, including winning the global AI race and fueling an American manufacturing renaissance. These endeavors require a significant amount of electricity, much more than America can currently generate. This undertaking will necessitate infrastructure building on a scale not seen since the end of World War II.

To maintain global dominance, the U.S. must build 450 gigawatts of generation over the next five years. This is equivalent to adding enough generation to power 75 Miami metro areas or 11 Floridas. For context, just over 40 gigawatts of new natural gas and nuclear power has been built over the last five years in the U.S. Ketchum stresses that now is not the time to limit options, as the stakes are too high. Finishing second in artificial intelligence or squandering job creation opportunities is not an option.

The debate over clean energy tax credits should not be solely about renewable energy. It is about whether the U.S. should turn its back on the only forms of power generation available at scale when the country needs every electron it can get. NextEra Energy, under Ketchum's leadership, is a leader in home-grown renewables, owning and operating more natural gas power plants and one of the nation’s largest nuclear fleets. The company also owns pipelines and a natural gas extraction business, with a sole interest in delivering low-cost energy to customers as quickly as possible.

Ketchum urges lawmakers to take a measured approach to rolling back clean energy tax credits. New nuclear power plants are not available until the mid-2030s, and traditional power plants take years to build. Turbines are sold out through the early 2030s, so a full-stop, immediate elimination of credits or a change to start of construction would effectively shut off America’s supply of new power plants through the end of the decade. Until then, America’s only option is to build wind, solar, and battery storage, which can serve as a bridge while expanding traditional power plant supply chains and workforces.

Last week’s Senate Finance Committee draft bill acknowledges this reality and offers a pragmatic approach to phasing out the clean energy credits. This approach recognizes that businesses signed contracts and made enormous capital decisions based on current law. By some estimates, over $1 trillion of U.S. energy infrastructure investments could be put at risk. Practical, commonsense provisions, like tying credits to the start of construction as they are phased out, provide a runway to finish projects and put much-needed electrons onto the grid while keeping power prices low for American homes and businesses.

Energy companies do not get the credits—they flow directly to American homeowners and business owners through lower energy costs. In rural communities across America, renewable and storage projects inject significant tax revenue often used for essential services like police, schools, and roads. Ketchum believes that investing in American infrastructure and putting the country first should not divide the nation. Instead, Americans should be united about what’s at stake, compromise in deference to the facts, and work together to build what America needs.

Ketchum concludes that there is a golden opportunity to meet this uniquely American moment. He calls for unity and collaboration to get this right for America.