Nuclear power will come to an end in the U.S. if the industry doesn’t get more government support, according to Carlyle Group LP, one of the world’s largest investment firms.

The nation’s nuclear reactors need more subsidies to keep running, such as a federal carbon tax that’ll reward them for their zero-emissions power, Bob Mancini, co-head of Carlyle Group’s power unit, said at a conference in New York. Carlyle, which has $176 billion in assets under management across funds, invests in natural gas- and coal-fired power plants and renewable energy projects.

Its outlook comes as nuclear power generators including Exelon Corp. and Entergy Corp. make plans to shut reactors across the country. Low power prices, fueled by an abundance of natural gas from shale drilling and weakening demand, have squeezed their profits just as their operating costs rise amid mounting regulation.