Congress Passes ADVANCE Act to Facilitate U.S. Development of Advanced Nuclear Reactors
On June 18, 2024, the U.S. Senate passed the Accelerating Deployment of Versatile, Advanced Nuclear for Clean Energy (ADVANCE) Act to accelerate the deployment of nuclear energy capacity, including by accelerating the licensing and creating new incentives for advanced nuclear reactor technologies, among them small modular reactors. The Senate introduced the ADVANCE Act in March 2023, and the House of Representatives passed the Fire Grants and Safety Act, which contains the ADVANCE Act, on May 8, 2024. Now that both houses have passed the Act, it will go to President Joe Biden for signature. Full text of the ADVANCE Act as passed by the Senate can be found here on page 4.
White House Releases Plan to Advance Nuclear Reactor Technologies
On May 29, 2024, the Biden administration announced the creation of a Nuclear Power Project Management and Delivery working group (Working Group), which is intended to accelerate the deployment of cost-effective nuclear reactor technology. The Working Group will include members of the White House and the U.S. Department of Energy (DOE) as well as other stakeholders, including project developers, engineering, procurement, and construction firms, utilities, investors, labor organizations, academics, and nongovernmental organizations.
