The United States Department of Energy (DOE) has announced the availability of up to $900m in funding to support the domestic deployment of Gen III+ small modular reactors (SMRs).
This funding, backed by President Biden’s Bipartisan Infrastructure Law, aims to accelerate the deployment of advanced nuclear technologies and aid in the nation’s transition to a net-zero emissions future.
Senior Advisor to the President for International Climate Policy John Podesta commented: “Next-generation nuclear energy will play an important role in building the clean power sector of the future.
“Today’s funding will boost American innovation, bolster our national security, and tackle the climate crisis.”
Supporting clean energy goals and jobs
The DOE is spearheading this initiative, recognising the vital role nuclear power can play in reducing carbon emissions.
Nuclear energy currently provides nearly half of the country’s carbon-free electricity, and the demand for clean, reliable, and affordable energy is rapidly growing.
To meet the US’ ambitious climate targets—achieving net-zero emissions by 2050—around 700-900 gigawatts (GW) of additional clean power generation capacity will be needed.
Gen III+ small modular reactors are poised to be a cornerstone of this effort, offering innovative reactor designs that are not only safer and more efficient but also scalable to meet diverse energy needs.
In addition to supporting climate goals, the deployment of these reactors is expected to create high-quality jobs and reinforce America’s leadership in the global nuclear industry.
Gen III+ SMRs: The future of nuclear energy
Small modular reactors are a new frontier in nuclear energy. Designed with flexibility in mind, these reactors can be used for various applications beyond electricity generation, including process heat and desalination.
Their smaller size allows for modular construction, making them easier to transport, quicker to assemble, and adaptable to different energy demands.
Moreover, Gen III+ SMRs have the potential to revitalise existing nuclear infrastructure by leveraging the workforce, expertise, and supply chains that support traditional large light-water reactors.
This offers a near-term solution for expanding the nuclear power sector in a way that integrates seamlessly with current technologies.
Funding opportunities for Gen III+ SMRs
The DOE’s funding initiative is divided into two tiers:
- Tier 1: First Mover Team Support – Up to $800m will be allocated to support two ‘first mover’ teams of utility companies, reactor vendors, constructors, and end-users. These teams will work together to deploy the first Gen III+ small modular reactors, paving the way for a larger fleet across the country.
- Tier 2: Fast Follower Deployment Support – An additional $100m will be available to spur further deployments by addressing challenges related to design, licensing, and site preparation.
Applications for this funding are due by 17 January 2025, and eligible applicants include utilities, project owners, and entities looking to improve the domestic supply chain for Gen III+ SMRs.
Accelerating the future of clean energy
With this funding, the Biden Administration is not only investing in the nation’s energy future but also a cleaner, more sustainable world.
By supporting the Gen III+ small modular reactors, the US aims to meet its growing energy needs while creating jobs, advancing technology, and leading the world in climate change mitigation.
