The ADVANCE Act passed – the USA will accelerate the development of nuclear energy
The United States Senate approved a bill to speed up the development of nuclear energy. This includes making the permitting process faster and easier and creating new ways to encourage investment in advanced nuclear technologies.
Nuclear energy has strong support from both political parties in the U.S. Democrats believe it’s essential for reducing carbon emissions and fighting climate change, while Republicans see it as a way to ensure a stable electricity supply and create jobs. In the end, 88 senators voted for the bill, and only 2 voted against it.
“This is a major victory for our climate and American energy security. The U.S. Senate passed the ADVANCE Act with a strong, bipartisan majority,” said Senator Tom Carper, a Democrat and chairman of the Senate Environment and Public Works Committee.
A chance to unlock the potential of private nuclear projects
The ADVANCE Act aims to lower regulatory costs for companies seeking licenses for advanced nuclear reactor technologies. It also establishes rewards for successful implementation of next-generation reactors and speeds up the licensing process for nuclear facilities in selected areas. This could benefit companies like TerraPower, backed by Bill Gates, which plans to build a $4 billion Natrium reactor in Wyoming on a former coal plant site but has faced difficulties in obtaining key permits.
However, the Union of Concerned Scientists and other nuclear non-proliferation organizations caution against making licensing requirements too lenient, especially for advanced reactors using highly enriched uranium. They stress that safety must remain a top priority.
The U.S. nuclear industry has struggled to grow in recent decades due to rising costs and complex permitting requirements. Financing and developing advanced nuclear technologies has been particularly challenging. This is set to change with the new bill, which will be signed by President Joe Biden.
Source: reuters.com