The United States government kicked off a program to fund small modular reactor (SMR) nuclear technology on 10/16/2023. This initiative‚ offering up to $900 million in support aims to jumpstart the domestic deployment of these innovative energy sources
SMRs are seen as a potential game-changer in the fight against climate change. These compact reactors generate electricity with virtually no emissions making them a key component in the Biden administrations strategy to combat global warming. The governments goal is to triple US nuclear power capacity to meet emission targets
These smaller reactors differ from their larger counterparts in several ways. They boast simpler designs and can be adjusted to meet specific demand requirements. Proponents argue that SMRs are inherently safer and could prove more cost-effective due to their factory-based construction process. Their versatility extends beyond power generation to applications such as heat production and water desalination
However SMRs face challenges. No commercial SMR has been built in the US yet and critics raise concerns about operational costs and economies of scale. Additionally‚ like traditional reactors SMRs produce long-lasting radioactive waste – a problem for which the US lacks a permanent solution
The funding‚ derived from the bipartisan infrastructure law passed about 3 years ago will be distributed through a two-tier system:
- Up to $800 million for milestone-based awards supporting first mover teams
- Up to $100 million to address industry gaps and encourage additional SMR deployments
Revitalizing Americas nuclear sector is key to adding more carbon-free energy to the grid and meeting the needs of our growing economy - from AI and data centers to manufacturing and healthcare
As the US embarks on this nuclear renaissance‚ it remains to be seen how SMRs will perform in real-world conditions and whether they can deliver on their promised benefits