{"id":51989,"date":"2024-10-17T10:04:20","date_gmt":"2024-10-17T09:04:20","guid":{"rendered":"https:\/\/www.innovationnewsnetwork.com\/?p=51989"},"modified":"2024-10-17T10:04:20","modified_gmt":"2024-10-17T09:04:20","slug":"us-injects-900m-funding-for-gen-iii-small-modular-reactors","status":"publish","type":"post","link":"https:\/\/www.innovationnewsnetwork.com\/us-injects-900m-funding-for-gen-iii-small-modular-reactors\/51989\/","title":{"rendered":"US injects $900m funding for Gen III+ small modular reactors"},"content":{"rendered":"

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).<\/h2>\n

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.<\/p>\n

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.<\/p>\n

“Today’s funding will boost American innovation, bolster our national security, and tackle the climate crisis.”<\/p>\n

Supporting clean energy goals and jobs<\/h3>\n

The DOE is spearheading this initiative, recognising the vital role nuclear power can play in reducing carbon emissions.<\/a><\/p>\n

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.<\/p>\n

To meet the US’ ambitious climate targets\u2014achieving net-zero emissions by 2050\u2014around 700-900 gigawatts (GW) of additional clean power generation capacity will be needed.<\/a><\/p>\n

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.<\/p>\n

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.<\/p>\n

Gen III+ SMRs: The future of nuclear energy<\/h3>\n

Small modular reactors are a new frontier in nuclear energy<\/a>. Designed with flexibility in mind, these reactors can be used for various applications beyond electricity generation, including process heat and desalination.<\/p>\n

Their smaller size allows for modular construction, making them easier to transport, quicker to assemble, and adaptable to different energy demands.<\/p>\n

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.<\/p>\n

This offers a near-term solution for expanding the nuclear power sector in a way that integrates seamlessly with current technologies.<\/p>\n

Funding opportunities for Gen III+ SMRs<\/h3>\n

The DOE’s funding initiative is divided into two tiers:<\/p>\n