Unlocking $900 Million in Funding for Small Modular Reactor Nuclear Technology Deployment
President Biden’s administration is pushing for a tripling of U.S. nuclear power capacity to combat climate change. Small modular reactors (SMRs) are seen as the key to meeting emissions goals, with their simpler designs, scalability, and lower costs. Critics raise concerns about operational expenses and radioactive waste.
The U.S. Energy Department is offering up to $900 million in funds from the bipartisan infrastructure law to support SMR deployment. This includes milestone-based awards for first mover teams and addressing industry gaps in design, licensing, supplier development, and site preparation.
U.S. Secretary of Energy Jennifer Granholm emphasizes the importance of revitalizing the nuclear sector to meet the energy needs of a growing economy while reducing carbon emissions.