Close Menu
    Facebook X (Twitter) Instagram
    Facebook X (Twitter) Instagram
    SweetCrudeReportsSweetCrudeReports
    Subscribe
    • Home
    • Oil
    • Gas
    • Power
    • Solid Minerals
    • Labour
    • Financing
    • Freight
    • Community Development
    • E-Editions
    SweetCrudeReportsSweetCrudeReports
    Home » US opens applications for $900 million for small nuclear reactors

    US opens applications for $900 million for small nuclear reactors

    October 17, 2024
    Share
    Facebook Twitter LinkedIn WhatsApp
    *U.S. Secretary of Energy Jennifer Granholm

    Washington — The U.S. has opened applications for up to $900 million in funding to support the initial domestic deployment of small modular reactor nuclear technology.

    WHY IT’S IMPORTANT
    President Joe Biden’s administration believes nuclear power is critical in the fight against climate change because it generates electricity virtually free from emissions, and that U.S. nuclear power capacity must triple to meet emissions goals.
    Small modular reactors (SMRs) differ from traditional larger nuclear plants in that they have simpler designs and can be scaled to demand. Backers say they are inherently safer and will be less costly because they can be built in factories rather than at site. SMRs could be used to generate heat or power and for desalination.
    But no U.S. commercial SMR has been built yet. Critics say they will be more expensive to run than larger reactors because they will struggle to achieve economies of scale. Like the large reactors, they will also produce long-lasting radioactive waste for which there is no final depository in the U.S.
    HOW WILL THE MONEY BE DISTRIBUTED?
    The funds come from the 2021 bipartisan infrastructure law and the Energy Department anticipates offering it in two tiers.
    Up to $800 million will go to milestone-based awards for support of first mover teams of utility, reactor vendor, constructor, end users and others.
    Up to $100 will spur additional SMR deployments by addressing gaps that have hindered the domestic nuclear industry in areas such as design, licensing, supplier development, and site preparation, the department said.
    KEY QUOTE
    “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,” said U.S. Secretary of Energy Jennifer Granholm.

    Reporting by Timothy Gardner; editing by Barbara Lewis – Reuters

    Related News

    Verdagy’s hydrogen to power Mainspring Energy’s linear generators

    ‘Laos’ large hydropower capacity to reach 16GW in 2035’

    Portugal wants EU to pressure reluctant France on power connections

    Comments are closed.

    E-book
    Resilience Exhibition

    Latest News

    OPEC+ drives crude oil prices up again

    May 28, 2025

    OPEC+ adopts plan for 2027 baselines ahead of July output hike talks

    May 28, 2025

    Gold prices rise amid fiscal and geopolitical risks

    May 28, 2025

    Verdagy’s hydrogen to power Mainspring Energy’s linear generators

    May 28, 2025

    Nigeria rallies economic team to counter US 14% tariff threat

    May 28, 2025
    Demo
    Facebook X (Twitter) Instagram
    • Opec Daily Basket
    • Oil
    • Power
    • Gas
    • Freight
    • Financing
    • Labour
    • Technology
    • Solid Mineral
    • Conferences/Seminars
    • Community Development
    • Nigerian Content Initiative
    • Niger-Delta Question
    • Insurance
    • Other News
    • Focus
    • Feedback
    • Hanging Out With Markson

    Subscribe for Updates

    Get the latest energy news from Sweetcrudereports.

    Please wait...
    Please enter all required fields Click to hide
    Correct invalid entries Click to hide
    © 2025 Sweetcrudereports.
    • About Us
    • Advertise with us
    • Privacy Policy

    Type above and press Enter to search. Press Esc to cancel.