Key Impact Points:
- $900M in funding: The U.S. Department of Energy is offering up to $900 million to catalyze the development of Generation III+ small modular reactors (SMRs) as part of the Biden-Harris Administration’s Investing in America agenda.
- Clean energy future: SMRs provide reliable, carbon-free power to meet growing energy demand, supporting goals for net-zero emissions by 2050.
- Job creation and innovation: This initiative reinforces America’s leadership in nuclear innovation, creating high-paying jobs and spurring billions in private sector investment.
The U.S. Department of Energy (DOE) has announced the opening of applications for up to $900 million in funding to accelerate the deployment of Generation III+ small modular reactors (SMRs). This initiative is a cornerstone of the Biden-Harris Administration’s Investing in America agenda, supported in part by President Biden’s Bipartisan Infrastructure Law. The goal is to foster the safe, responsible deployment of advanced reactor technologies to meet the growing demand for clean, reliable, and affordable power.
Jennifer M. Granholm, U.S. Secretary of Energy, emphasized the importance of nuclear energy:
“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.”
Supporting Clean Energy and Jobs
Next-generation nuclear technologies, such as Generation III+ SMRs, are designed to provide flexible, modular, and reliable power. These technologies play a critical role in America’s effort to reach net-zero emissions by 2050, requiring an estimated 700-900 GW of additional clean, firm power generation capacity. Nuclear power, which currently provides nearly half of America’s carbon-free electricity, is a key solution.
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John Podesta, Senior Advisor to the President for International Climate Policy, stressed:
“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.”
Two-Tier Funding to Jumpstart Nuclear Future
The DOE’s funding, divided into two tiers, is designed to support both early adopters and fast followers in the nuclear energy space:
- Tier 1: First Mover Team Support offers up to $800 million to assist up to two utility-led teams in deploying the first Gen III+ SMRs. This tier focuses on projects that create an orderbook for multiple reactors.
- Tier 2: Fast Follower Deployment Support provides up to $100 million to address gaps in design, licensing, and site preparation for additional SMR deployments.
Ali Zaidi, White House National Climate Advisor, praised the initiative: “America’s nuclear industry is racing ahead because strong Biden-Harris policies are spurring billions in private sector investment into this critical technology, which will lower energy costs and create good-paying union jobs.”
A Path to Sustainable Energy and Economic Growth
The introduction of Gen III+ SMRs presents opportunities for creating high-quality jobs, fostering innovation, and supporting environmental goals. SMRs offer modular construction, scalability, and flexible deployment, with applications ranging from power generation to desalination and industrial heat. This technology is also seen as an avenue to revitalize and leverage the existing nuclear supply chains, further boosting American leadership in nuclear energy.
By utilizing funds from the Consolidated Appropriations Act of 2024 and the Bipartisan Infrastructure Law, this investment also supports the Justice40 Initiative, ensuring that 40% of the benefits flow to disadvantaged communities overburdened by pollution.
This funding round marks a significant step toward achieving a clean energy future, positioning America as a global leader in nuclear energy while driving down emissions and supporting a thriving economy.
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