Nuclear power avoided a big fallout in Illinois this week. 

What Happened: On Monday, the Illinois Legislature approved $700 million in subsidies over five years for nuclear plants to stay active in the state.

Nuclear energy, a contentious topic among environmentalists, has become a very important source of clean energy, according to many policymakers, including the Illinois governor and Biden administration. 

Former Michigan governor and U.S. Secretary of Energy Jennifer Granholm took to Twitter (NYSE:TWTR) to laud the decision. 

Why It Matters: In addition to preventing the switch to fossil fuels, keeping the nuclear plants open in Illinois helped save — and boost the stock of — the Exelon Corporation (NASDAQ:EXC).

Over the last year, EXC has seen its stock jump by about $15 per share.

According to many scientists, nuclear energy is a system of energy that will remain important and powerful, as it is a useful alternative in the fight against climate change. 

Photo: Mick Truyts via Unsplash.