Nuclear Energy

A small modular reactor is a nuclear reactor typically producing under 300 MWe, designed with modular components that can be factory-built and transported to site. SMRs offer enhanced passive safety, lower upfront capital costs, and flexible deployment compared to traditional large nuclear plants.

Tech giants like Microsoft, Amazon, Google, and Meta are signing power purchase agreements (PPAs) with nuclear operators and investing in SMR startups. Nuclear provides 24/7 carbon-free baseload power — critical for data centers that require constant, reliable electricity. SMRs can be co-located directly with data centers, reducing grid dependency.

Nuclear energy has the lowest fatality rate of any major energy source at 0.03 deaths per TWh — lower than solar, wind, and hydro. Modern Gen III+ and Gen IV reactors use passive safety systems that require no active cooling. The risk of meltdown in newer designs is effectively eliminated through physics-based safety mechanisms.

HALEU (High-Assay Low-Enriched Uranium) is uranium enriched to 5-20% U-235, compared to the 3-5% used in conventional reactors. Most advanced reactors and SMRs require HALEU fuel. Currently, domestic HALEU production is extremely limited, making it the #1 supply chain bottleneck for advanced reactor deployment in the US.

Multiple private fusion companies aim to demonstrate net energy production by 2026-2027. Commonwealth Fusion Systems plans its first commercial fusion power plant (ARC, ~400 MW) in the early 2030s. However, commercial viability at scale is most realistically expected in the 2035-2045 timeframe.

First-of-a-kind (FOAK) SMR costs are expected to be high, but series production of 6-10+ units is projected to reduce costs by up to 40%. The global SMR market is forecast to reach $53.8 billion by 2036 and nearly $300 billion by 2046, according to IDTechEx.

Fission splits heavy atoms (uranium, plutonium) to release energy — this is how all current nuclear power plants work. Fusion combines light atoms (hydrogen isotopes) to release energy — the same process that powers the sun. Fusion produces no long-lived radioactive waste and has no meltdown risk, but remains in the development phase.

Yes. Nuclear energy produces zero greenhouse gas emissions during operation and has the highest capacity factor (90%+) of any clean energy source. The COP28 pledge to triple nuclear capacity by 2050 recognizes nuclear as essential for achieving net-zero targets alongside renewables.

Key SMR developers include NuScale (VOYGR, first NRC-certified SMR design), TerraPower (Natrium sodium-cooled reactor in Wyoming), X-energy (Xe-100 high-temperature gas reactor), Rolls-Royce SMR (UK), Holtec (SMR-300), and GE Hitachi (BWRX-300 in Canada). China's CNNC has already completed the Linglong One (ACP100) — the world's first commercial onshore SMR. Russia's Akademik Lomonosov floating SMR has been operational since 2020.

The Palisades Nuclear Plant in Michigan is set to become the first US nuclear plant to restart after previously shutting down. Holtec International purchased the plant in 2022 and is pursuing restart with $1.5B in federal funding from the Inflation Reduction Act. The restart targets 800 MW of carbon-free power and could be a template for reviving other retired nuclear plants. It's expected to resume operations in 2026.