Staff Writer
As part of President Biden’s Investing in America agenda, the U.S. Department of Energy (DOE) has announced a Notice of Intent (NOI) to fund up to $900 million to support the deployment of Generation III+ (Gen III+) Small Modular Reactor (SMR) technologies. This funding, made possible by President Biden’s Bipartisan Infrastructure Law, aims to bolster America’s nuclear industry, promote the development of advanced reactor technologies, and meet the nation’s clean energy and climate goals.
Key Highlights:
- Significant Investment: The $900 million funding initiative is the largest push to support civil nuclear deployment in the U.S. in nearly five decades. It aims to support the initial U.S. deployments of Gen III+ SMR technologies, which are essential for achieving net-zero emissions by 2050.
- Job Creation and Economic Benefits: Nuclear power is the largest source of carbon-free electricity in the U.S., directly employing nearly 60,000 workers and indirectly supporting hundreds of thousands more. This funding will create new high-paying jobs and benefit communities affected by the energy transition.
- DOE's Two-Tier Funding Approach:
- Tier 1: First Mover Team Support: Managed by the Office of Clean Energy Demonstrations (OCED), this tier offers up to $800 million to support up to two first-mover teams committed to deploying initial plants and facilitating a multi-reactor Gen III+ SMR order book.
- Tier 2: Fast Follower Deployment Support: Managed by the Office of Nuclear Energy (NE), this tier provides up to $100 million to address key gaps in design, licensing, supplier development, and site preparation, spurring additional SMR deployments.
Technological Advantages of SMRs:
- Versatility and Safety: SMRs can be deployed in various settings, from remote areas to urban environments, due to their small footprint and modular design.
- Cost Efficiency: Factory-based construction and established fuel supply chains help lower project costs.
- Scalability: SMRs can meet localized power demands and be scaled up for larger needs or integrated with renewable energy sources.
Additional Initiatives and Events:
- Funding Solicitation: DOE plans to release a funding solicitation in late summer/fall of 2024. Interested parties can register for an informational webinar on July 9, 2024.
- Industry Day: In August, an in-person Industry Day will foster partnerships among utilities, reactor vendors, constructors, end-users, and supply chain members.
Community and Equity Focus:
Projects are expected to support community and labor engagement, invest in quality jobs, promote diversity, equity, inclusion, and accessibility, and contribute to the Justice40 Initiative, ensuring that 40% of the benefits of federal investments flow to disadvantaged communities.
This funding announcement is part of the DOE’s broader effort to support the research, development, demonstration, and deployment of technologies crucial for the U.S. nuclear sector to achieve net-zero emissions by 2050.
