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DOE Makes Up to $900 Million Available to Build, Deploy Next-Generation Nuclear Technologies

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The U.S. Department of Energy on Oct. 16 opened applications for up to $900 million in funding to support the initial domestic deployment of Generation III+ (Gen III+) small modular reactor technologies.

DOE said the announcement aims to assist the private sector in establishing a credible and sustainable pathway to deploying a fleet of Gen III+ SMRs across the country.

DOE estimates the U.S. will need approximately 700-900 GW of additional clean, firm power generation capacity to reach net-zero emissions by 2050. "Nuclear power is a proven option that could be deployed to meet this growing demand," it said.

In 2023, nuclear energy provided nearly half of America’s carbon-free electricity. Utilities are looking to extend the lifespan of current nuclear reactors, planning to uprate reactor capacity, reversing plans to close reactors, and even restarting formerly closed reactors, DOE noted. At the same time, they are exploring building new reactors to meet the fast-growing demand for carbon-free energy.

"Designed with a variety of capabilities, sizes, and deployment scenarios in mind, SMRs can be used for power generation, process heat, desalination, and more. In particular, SMRs offer the potential for greater modularity, more factory-style construction, and the ability to be matched with loads and scaled to meet demand," DOE said. "Additionally, Gen III+ SMRs may be able to revitalize and leverage the expertise, workforce, and supply chains supporting the existing fleet of large light-water reactor designs, thus providing a near-term path for new nuclear deployments and operation." 

Created by the Consolidated Appropriations Act of 2024 and utilizing funds from President Biden’s Bipartisan Infrastructure Law, DOE anticipates offering funding in two tiers: 

  • Tier 1: First Mover Team Support, managed by the Office of Clean Energy Demonstrations, will provide up to $800M for milestone-based awards to support up to two first mover teams of utility, reactor vendor, constructor, and end-users/off-takers committed to deploying a first plant while facilitating a multi-reactor, Gen III+ SMR orderbook and the opportunity to work with the National Nuclear Security Administration to incorporate safeguards and security by design into the projects. 
  • Tier 2: Fast Follower Deployment Support, managed by the Office of Nuclear Energy (NE), will provide up to $100M to spur additional Gen III+ SMR deployments by addressing key gaps that have hindered the domestic nuclear industry in areas such as design, licensing, supplier development, and site preparation. 

For Tier 1, teams must include a U.S. utility, reactor technology vendor, and engineering, procurement, and construction company with the lead applicant being the utility, end-user/off-taker, a development company, or incorporated consortium.

Tier 2 funding is sorted into three different categories, for which applicants must be either planned project owners or utilities, or entities looking to improve the capability, capacity, or cost competitiveness of the domestic supply chain for Gen III+ SMRs. 

Read the solicitation for full eligibility criteria

Applications are due on January 17, 2025, at 5 pm ET. For more information, visit the Gen III+ SMR engagement webpage here.

Applicants can register for the informational webinar on October 22, 2024 here.

Questions about the solicitation may be directed to [email protected]. Questions about navigating OCED eXCHANGE may be directed to [email protected]

 

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