The US Department of Energy will provide up to $450 million to advance the development of American-made small modular nuclear reactors (SMRs). The funding is targeted to support first-of-its-kind engineering, design certification and licensing for up to two SMR designs over five years, subject to congressional appropriations. Small modular reactors, which are approximately one-third the size of current nuclear plants (about 350 MWe or less), have compact, scalable designs that are expected to offer a host of safety, construction and economic benefits, acording to the DOE. (Earlier post.)

Through cost-share agreements with private industry, DOE will solicit proposals for promising SMR projects that have the potential to be licensed by the Nuclear Regulatory Commission and achieve commercial operation by 2022. These cost-share agreements will span a five-year period and, subject to congressional appropriations, will provide a total investment of approximately $900 million, with at least 50% provided by private industry.