A cluster of reactors that are just 9 feet in diameter is supposed to start a nuclear energy resurgence. Mounting costs may doom the project.
NuScale says it stands by cost estimates based on its new design, and that it has long been in touch with regulators about the revisions. “We don't expect any surprises,” says José Reyes, NuScale’s CTO and cofounder.
This year, the city realized it had new alternatives to the rising costs of nuclear power. While the Inflation Reduction Act is expected to help offset the costs of the Idaho plant, it also includes funds to help rural communities start their own energy projects. Bailey wants the city to become more self-reliant, installing its own solar panels and batteries that reserve power overnight.
At this point, the utilities have sunk relatively little of their own money into the project, but that will change in 2024 as the project begins to seek site-specific building approvals followed by actual construction. To get the project fully subscribed, the group is talking with utilities elsewhere in the Northwest, where NuScale is competing with other SMR startups, including the, which recently signed a feasibility agreement with PacifiCorp, a private utility.
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