COLUMBUS, Ohio – Today, as President Obama went to Ohio State University to discuss the all-out, all-of-the-above strategy for American energy, the White House announced new funding to advance the development of American-made small modular reactors (SMRs), an important element of the President’s energy strategy. A total of $450 million will be made available to support first-of-its-kind engineering, design certification and licensing for up to two SMR designs over five years, subject to congressional appropriations. Manufacturing these reactors domestically will offer the United States important export opportunities and will advance our competitive edge in the global clean energy race. Small modular reactors, which are approximately one-third the size of current nuclear plants, have compact, scalable designs that are expected to offer a host of safety, construction and economic benefits.
“The Obama Administration and the Energy Department are committed to an all-of-the-above energy strategy that develops every source of American energy, including nuclear power, and strengthens our competitive edge in the global clean energy race,” said Energy Secretary Steven Chu. “Through the funding for small modular nuclear reactors announced today, the Energy Department and private industry are working to position America as the leader in advanced nuclear energy technology and manufacturing.”
Through cost-share agreements with private industry, the Department will solicit proposals for promising SMR projects that have the potential to be licensed by the Nuclear Regulatory Commission and achieve commercial operation by 2022. These cost-share agreements will span a five-year period and, subject to congressional appropriations, will provide a total investment of approximately $900 million, with at least 50 percent provided by private industry.
SMRs can be made in factories and transported to sites where they would be ready to “plug and play” upon arrival, reducing both capital costs and construction times. The smaller size also makes SMRs ideal for small electric grids and for locations that cannot support large reactors, offering utilities the flexibility to scale production as demand changes.
Today’s announcement builds on the Obama Administration’s efforts to help jumpstart America’s nuclear energy industry that include:
· In 2010, the Department signed a conditional commitment for $8 billion in loan guarantees to support the Vogtle project, where the Southern Company and Georgia Power are building two new nuclear reactors, helping to create new jobs and export opportunities for American workers and businesses.
· The Energy Department has also supported the Vogtle project and the development of the next generation of nuclear reactors by providing more than $200 million through a cost-share agreement to support the licensing reviews for Westinghouse’s AP1000 reactor design certification. The Vogtle license is the first for new nuclear power plant construction in more than three decades.
· Promoting a sustainable nuclear industry in the U.S. also requires cultivating the next generation of scientists and engineers. Over the past three years, the Department has invested $170 million in research grants at more than 70 universities, supporting R&D into a full spectrum of technologies, from advanced reactor concepts to enhanced safety design.
The full Funding Opportunity Announcement issued today is available at Grants.gov.
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