US Department of Energy Announces $900 Million Funding for Small Modular Reactor Deployment
Sustainability Economics
E2E AUTOMATION AND LIFECYCLE MANAGEMENT OF NET-ZERO TRANSITIONS
The US Department of Energy announced the availability of up to $900 million in funding to support the initial deployment of Generation III+ (Gen III+) small modular reactor (SMR) technologies as part of the Biden-Harris Administration’s Investing in America agenda.?
The funding, made possible by President Biden’s Bipartisan Infrastructure Law, aims to advance the safe and responsible use of advanced nuclear technologies to meet the increasing demand for clean, reliable, and affordable energy in the United States.??
This initiative will aid the private sector in deploying a nationwide fleet of Gen III+ SMRs, contributing to environmental protection, job creation, and the country’s ambitious climate goals.?
Jennifer M. Granholm, the US Secretary of Energy, said, “Revitalizing America’s 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.”?
To achieve the goal of 700-900 GW of clean power for net-zero emissions by 2050, nuclear power, including small modular reactors, is expected to supply nearly half of America’s carbon-free electricity by 2023.??
Utilities are exploring the extension of existing nuclear reactors’ lifespan and the construction of new ones to meet the rising demand for carbon-free energy.?
SMRs offer modularity, scalability, and potential advantages such as factory-style construction and load matching, which could revitalize the existing nuclear infrastructure and facilitate new atomic deployments.?