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President Biden has established domestic nuclear energy deployment targets to at least triple current US capacity (based on 2020 numbers) by 2050.
The new framework is “an ambitious, first-of-its-kind framework” including:
- building new nuclear power plants
- uprating existing reactors
- restarting reactors retired for economic reasons
The targets include:
- 35 GW of new capacity that will be operating or under construction by 2035
- producing 15 GW per year in the US by 2040
The so-called nine pillars of the framework include:
- building new large, gigawatt-scale reactors
- building small modular reactors (SMRs)
- building microreactors
- extending and expanding existing reactors, through license renewals, power uprates, and restarting recently retired reactors
- improving licensing and permitting
- developing the workforce
- developing component supply chains
- developing fuel cycle supply chains
- managing spent nuclear fuel
“This is a critical moment for American nuclear energy. By acting with urgency and purpose, we can achieve a safe, clean, reliable, and affordable electricity system to power our homes, businesses, and industries while tackling the climate crisis and investing in America’s future”
— Biden-Harris Administration Establishes Bold U.S. Government Targets for Safely and Responsibly Expanding U.S. Nuclear Energy and Announces Framework for Action to Achieve these Targets
A recent report by the US Department of Energy outlining the how to triple nuclear power in the US to 300 GW by 2050, highlighted how such an increase would also mean a significant increase — triple — in uranium demand.
The report also warns that other critical minerals are also needed to construct nuclear reactors, highlighting, “of particular concern”: Hafnium, Niobium, Yttrium, Chromium, and Nickel.
Our recent analysis on why nuclear energy is undergoing a renaissance:
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