The U.S. Department of Energy (DOE) recently announced funding of up to $900 million to support the initial deployment of Generation III+ small modular reactor (SMR) technologies. This initiative is part of the Bipartisan Infrastructure Act and seeks to advance nuclear energy as a key part of the transition to a clean energy future.
Two levels of financing
The financing will be structured in two different levels. In the first, called First Action Team Support, the Clean Energy Demonstrations Office will allocate up to $800 million to support two first action teams. These teams include utilities, reactor suppliers, builders and end users looking to deploy a first plant and utilize a Generation III+ SMR order book with multiple reactors.
The second tier, called Rapid Follow-on Deployment Support, will have up to an additional $100 million provided by the Office of Nuclear Energy to encourage new SMR deployments.
U.S. Secretary of Energy Jennifer Granholm said, “President Biden is determined to ensure that nuclear power, the nation’s largest source of carbon-free electricity, continues to serve as a key pillar of our nation’s transition to a clean, safe and secure energy future.” This anunc i o seeks to support nuclear pioneers and reaffirm U.S. leadership in this crucial industry.
United States and Small Modular Reactors (SMRs)
Previous DOE reports indicate that the United States will need between 700 and 900 GW of new clean, firm energy capacity to achieve net-zero emissions by 2050. The Biden administration has placed increasing emphasis on nuclear power because of its proven capabilities and its status as the nation’s largest source of carbon-free electricity, despite fluctuations in public confidence.
The SMR stand out for their versatility in different environments, whether in remote or urban centers. In addition, they are capable of operating both upstream and downstream of the meter and use established fuel supply chains. Their comparatively small footprint helps to significantly reduce project costs and they can be scaled up as needed.
The actual funding request is expected to be made in late summer or fall 2024, ushering in a new era for nuclear power in the United States.
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Source: dailyenergyinsider
Photo: shutterstock
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