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A New Solution to Energy Problems

Posted January 25, 2023

Ray Blanco

By Ray Blanco

A New Solution to Energy Problems

Nuclear energy is making a comeback in the United States as more and more power companies are looking to this source of energy to meet the country's growing energy demands. 

Since nuclear energy is a clean, reliable, and efficient source of energy that produces no greenhouse gasses, it becomes a key player not only in solving energy problems but also as a green alternative to other energies.

One of the main reasons for the resurgence of nuclear energy in the US is the development of new technologies, such as small modular reactors (SMRs). 

These reactors are smaller, cheaper, and more efficient than traditional nuclear reactors, making them more attractive to power companies. 

Additionally, they can be built in factories and transported to the site, reducing the construction time and cost. 

A big hurdle for nuclear energy has always been cost... 

If an energy source costs more than an alternative, it’s rarely worth a second look from power companies. 

But with SMRs powering the nuclear renaissance, a whole new world is opening up for energy solutions. 

There are also several other advanced nuclear technologies in development, such as advanced nuclear fuels, which promise to make nuclear energy even safer and more efficient. 

With many of the technologies currently undergoing testing and development, we could see an even bigger push for nuclear energy.

Even still, despite the promising developments in nuclear energy, the industry still faces challenges. 

The high cost of building new nuclear reactors and the issue of nuclear waste disposal are major concerns. 

However, with the advancements in technology, these challenges are becoming more manageable, and the industry is finding new ways to overcome them.

Even better yet, the nuclear power industry got some great news last week…

Power Up the Reactors

A big player in the nuclear energy renaissanceis in the news right now thanks to its clearing of the ultimate U.S. regulatory hurdle in civilian advanced nuclear.

Last week, the Nuclear Regulatory Commission certified the design of NuScale Power Corp.’s (NYSE: SMR) 50-megawatt power module. 

This reactor is the first small modular reactor and just the seventh reactor design ever approved for use in the U.S. 

With this ruling, there is plenty of hope for a long-heralded nuclear renaissance. 

This means that utilities are now able to reference NuScale’s design when applying for a license to build and operate a reactor. 

This achievement is no small feat either, both NuScale and the Department of Energy have sunk over a decade's worth of time and hundreds of millions of dollars working to power through this regulatory hurdle.

Moreover, what makes this achievement so exciting for NuScale comes from the way these designs can be implemented. 

For a long time now, nuclear energy was seen as a costly energy ripe for schedule overruns. 

NuScale’s reactors solve a lot of these issues thanks to their scaled-down and reproducible nature. 

And now that they’re certified for use, they offer a new set of solutions for energy problems ranging from emergency power outages, natural disasters, military use, and more. 

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