For many, nuclear power is emerging as an answer as states and countries transition away from coal, oil and natural gas.
The U.S. Nuclear Regulatory Commission has certified the design for what will be the United States’ first small modular nuclear reactor.
It’s the seventh nuclear reactor design cleared for use in the United States. The rest are for traditional, large, light-water reactors. Hughes said from wind and solar to hydrogen and nuclear, energy projects have seen cost increases due to changing financial market dynamics, interest rate hikes and inflationary pressures on the sector’s supply chain that have not been seen in decades. NuScale’s VOYGR power plant remains a cost competitive source of reliable, affordable and carbon-free energy, she added.
The U.S. Energy Department said it provided more than $600 million since 2014 to support the design, licensing and siting of NuScale’s VOYGR small modular reactor power plant and other domestic small reactor concepts. The department is working with Utah Associated Municipal Power Systems to demonstrate a six-module NuScale VOYGR plant at the Idaho National Laboratory. The first module is expected to be operational by 2029.
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