Small modular reactors and microreactors with power generation capacities below 20 megawatts could help power up remote locations with clean energy.
With the world looking for a reliable carbon-free energy source, nuclear power is returning. According to the Department of Energy , the US will need 200 gigawatts of nuclear energy capacity if it has to reach net zero by 2050.Current estimates suggest that the current capacity of 95 GW contributes 18 percent of US energy demand. But this capacity is thanks to a few large nuclear reactors built decades ago. Recently, the nuclear industry in the US has been plagued with delays and cost overruns.
Under the Inflation Reduction Act, new nuclear energy plants also enjoy the same tax benefits as renewable energy projects and could see a push in the near future., the pioneer in this technology, faced some setbacks as its first project had to be abandoned due to increased energy production costs. Small modular reactors use high-assay, low-enriched uranium fuel that contains up to 20 percent uranium. This is higher than the fuel used by conventional reactors but allows the SMRs to operate using less fuel efficiently while also increasing the lifespan of the equipment.