Nuclear

U.S. Senate passes bill aimed at speeding up advanced nuclear deployments

The legislation would direct the NRC to find ways to speed up licensing and offer incentives for the buildout of new reactors.
U.S. Senate passes bill aimed at speeding up advanced nuclear deployments

The U.S. Senate passed legislation this week aimed at accelerating advanced nuclear deployments, after a similar action by the House in May.

The ‘‘Accelerating Deployment of Versatile, Advanced Nuclear for Clean Energy Act of 2024,” or ADVANCE Act, aims to speed up permitting and create new incentives for the buildout of advanced reactors.

The bill now goes to President Joe Biden’s desk, where it is expected to be signed.

The ADVANCE Act would direct the U.S. Nuclear Regulatory Commission (NRC) to find ways to speed up its licensing process for new nuclear technology. The legislation would also reduce regulatory costs for companies seeking to license these new reactor technologies, as well as direct the NRC to enhance its ability to qualify and license accident-tolerant fuels and advanced nuclear fuels.

The act would also aid in the development of advanced reactors in other countries by empowering the NRC to take an international leadership role in creating regulations for advanced nuclear reactors. Additionally, it would instruct the US Department of Energy to enhance its process for approving the export of U.S. technology to global markets, while upholding stringent nuclear non-proliferation standards.

U.S. Senators passed ADVANCE as part of the Fire Grants and Safety Act by a 88-2 vote.

The U.S. remains the world’s leader in nuclear energy output, but could be up to 15 years behind China in rolling out next-generation reactors, according to a report from the Information Technology & Innovation Foundation (ITIF), a nonpartisan research institute.

To reclaim its leadership in the nuclear reactor industry, the United States must adopt a coherent national strategy and a “whole-of-government” approach, according to ITIF. This would require several key steps.

First, federal R&D and regulatory agencies would need sufficient staffing to support innovation, down-selection, regulatory approval and deployment of new reactor types. Second, incentives, tax credits and attractive financing would need to be provided to facilitate the production of cost-competitive nuclear energy.

Additionally, policies such as streamlined export credit programs would be necessary to support exports from U.S. nuclear reactor producers.