Advancing America's Energy Future: The New Atomic Age of Nuclear Energy

The House Committee on Oversight and Accountability has issued a press release highlighting the importance of advancing America's energy future through the development and deployment of small and micro modular nuclear reactors. Witnesses at a recent hearing emphasized the need for expanding nuclear energy due to its efficiency and low cost compared to other energy sources. The hearing focused on the potential of SMRs and MMRs to redefine the future of U.S. electricity generation through safe, affordable, and accessible nuclear energy.

Key Takeaways:

• The development and deployment of small and micro modular reactors (SMRs and MMRs) are crucial for advancing America's energy future and increasing safe, affordable, and accessible nuclear energy.
• Government overregulation has been a major hindrance to the development and deployment of SMRs and MMRs, stifling innovation and progress in the nuclear energy sector.
• Alex Epstein, President and Founder of the Center for Industrial Progress, testified that government harm has likely gutted nuclear's potential for decades, citing the example of clean, safe nuclear power becoming affordable and growing to 20% of American electrical power in the 1970s.
• Supply-chain issues and cultural misconceptions of nuclear energy are significant barriers to the propagation of SMRs and MMRs in the U.S., with many experts citing outdated regulations as a major obstacle.
• Joshua Smith, Energy Policy Lead at the Abundance Institute, testified that nuclear entrepreneurs can't succeed in a system that blocks entry before shovels hit the dirt, highlighting the need for reform in licensing, permitting, and interconnection.
• The United States must modernize its approach to electrical grid licensing, permitting, and the nuclear industry generally to maintain leadership in the global race for energy efficiency.
• Alex Epstein testified that designating nuclear innovation zones on federal land could help expedite the development and deployment of SMRs and MMRs by allowing private developers to quickly iterate designs and run safety tests without years-long waiting periods.

Statistics:

• 20%: The percentage of American electrical power that nuclear energy accounted for in the 1970s.
• 800: The safety factor of nuclear energy compared to coal, with nuclear being 800 times safer per terawatt hour of electricity production.
• 100: The safety factor of nuclear energy compared to gas generation, with nuclear being 100 times safer per terawatt hour of electricity production.
• 53: The specific part of the regulatory code that Part 53 refers to, which governs performance-based safety testing requirements.

Sources:

• "The New Atomic Age: Advancing America's Energy Future" hearing held by the Subcommittee on Economic Growth, Energy Policy, and Regulatory Affairs.
• Alex Epstein, President and Founder of the Center for Industrial Progress.
• Joshua Smith, Energy Policy Lead at the Abundance Institute.
• "The recent executive orders" (no specific date or reference provided).