Major Investment in Advanced Nuclear Power
The Biden-Harris Administration has announced the opening of applications for up to $900 million in funding aimed at the domestic deployment of Generation III+ (Gen III+) small modular reactor (SMR) technologies. This funding, part of President Biden’s Bipartisan Infrastructure Law, seeks to facilitate the safe and responsible deployment of advanced reactor technologies across the U.S., aligning with the nation’s climate goals and the rising demand for clean, reliable power.
Supporting a Sustainable Energy Future
U.S. Secretary of Energy Jennifer M. Granholm emphasized the importance of revitalizing the nuclear sector, stating that it is crucial for adding carbon-free energy to the grid and supporting the economy across various sectors. This initiative aims to establish a sustainable pathway for deploying Gen III+ SMRs, promoting environmental protection, creating high-quality jobs, and reinforcing America’s leadership in the nuclear industry.
Enhancing National Security and Innovation
Senior Advisor to the President for International Climate Policy, John Podesta, highlighted that next-generation nuclear energy will be vital for building a sustainable power sector. He asserted that this funding would enhance American innovation and address the climate crisis, while White House National Climate Advisor Ali Zaidi noted that strong Biden-Harris policies are driving significant private sector investment into the nuclear technology field.
Addressing Future Energy Needs
The Department of Energy (DOE) projects that the U.S. will require approximately 700-900 GW of additional clean power generation capacity to achieve net-zero emissions by 2050. With nuclear energy contributing nearly half of America’s carbon-free electricity in 2023, there is a growing focus on extending the life of current reactors while exploring new ones to meet demand. Gen III+ SMRs offer modularity and factory-style construction, making them adaptable for various applications, including power generation and desalination.
Funding Structure and Eligibility
The funding, created by the Consolidated Appropriations Act of 2024, will be distributed in two tiers:
Tier 1: First Mover Team Support – Up to $800 million will be allocated to support two first mover teams committed to deploying a plant and facilitating a multi-reactor orderbook.
Tier 2: Fast Follower Deployment Support – Up to $100 million will address key gaps in the domestic nuclear industry, covering design, licensing, and site preparation.
Applications for Tier 1 must include a U.S. utility, reactor technology vendor, and construction company, while Tier 2 funding will support planned project owners or utilities seeking to enhance their capabilities.
This comprehensive initiative signifies a strong commitment to advancing the nuclear sector in the U.S. and addressing the challenges posed by climate change while fostering economic growth.
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