The Biden-Harris Administration has announced the opening of applications for up to $900 million in funding to support the deployment of Generation III+ small modular reactor (SMR) technologies. This initiative is part of the administration's Investing in America agenda and aims to advance nuclear technology across the United States.
U.S. Secretary of Energy Jennifer M. Granholm stated, "Revitalizing America’s nuclear sector is key to adding more carbon-free energy to the grid and meeting the needs of our growing economy—from AI and data centers to manufacturing and healthcare." She emphasized that this funding will help position the U.S. as a leader in advanced reactor technologies, creating high-paying jobs while supporting a clean energy future.
John Podesta, Senior Advisor to the President for International Climate Policy, highlighted the significance of next-generation nuclear energy: "Today’s funding will boost American innovation, bolster our national security, and tackle the climate crisis."
White House National Climate Advisor Ali Zaidi remarked on recent progress: "President Biden and Vice President Harris made a big bet on America’s energy potential, and this Administration’s investments to jumpstart our nuclear future are paying off in a big way."
The Department of Energy (DOE) estimates that an additional 700-900 GW of clean power generation capacity will be needed by 2050 to achieve net-zero emissions. Nuclear power remains a viable option for meeting this demand. In 2023, nearly half of America's carbon-free electricity came from nuclear energy.
The DOE plans two tiers of funding: Tier 1 offers up to $800 million for first mover teams involved in deploying initial SMR plants; Tier 2 provides up to $100 million for fast follower deployments addressing gaps such as design and licensing.
These efforts align with President Biden's Justice40 Initiative, which aims for 40% of certain federal investment benefits to reach disadvantaged communities affected by pollution.
Applications are due by January 17, 2025. Further details can be found on the Gen III+ SMR engagement webpage.
