The Department of Energy has released a notice of intent indicating its plan to provide up to $900 million in funding for initial deployments of Generation III+ small modular reactor technologies in the U.S.
SMRs are sufficiently versatile to be deployed in various settings not only to meet small, localized power demand but also larger energy requirements by being scaled up or paired with renewable sources, the DOE said Monday.
In relation to the funding effort, an informational webinar will be held on July 9, an industry day will take place in August and a funding solicitation will be released in late summer or in the fall.
Funding will be offered in two tiers. The first tier will provide up to $800 million to support two teams that will work to deploy a first plant and facilitate a multi-reactor Gen III+ SMR orderbook. The second tier will provide up to $100 million for additional Gen III+ SMR deployments.
Commenting on the notice of intent, Secretary of Energy Jennifer Granholm said, “Today’s announcement will support early movers in the nuclear sector as we seek to scale up nuclear power and reassert American leadership in this critical energy industry.”
Granholm also described nuclear energy as “the nation’s single largest source of carbon free electricity” and “a key pillar of our nation’s transition to a safe and secure clean energy future.”