Can SMRs Scale Fast Enough To Reach Climate Goals?

Can SMRs Scale Fast Enough To Reach Climate Goals?

The nuclear renaissance is underway, but can technology deliver the efficiencies needed?


Nuclear power is back in the spotlight. Energy security concerns coupled with economic uncertainty have influenced a shift in global attitudes to the energy source. Policy and investment in nuclear are accelerating as the existing fleet of reactors ages. By 2050, at least 10% of the current nuclear fleet will retire, prompting the need to look to new and innovative technologies to replace them.

As ever, cost-efficiencies will drive adoption. The levelized cost of electricity for conventional nuclear is over three times the cost of wind and solar per MWh. New, advanced reactor technologies are needed to lower costs. Small Modular Reactors are one of these. As global innovation in nuclear evolves, these reactors could deliver energy at less than $80 a MWh. Investment in SMRs is focused on the US Canada and Europe.

On the Interchange today, we are joined by a panel of industry guests to identify the paths to safe, reliable nuclear power. Dr Kathryn Huff is Assistant Secretary at the Office of Nuclear Energy, at the US Department of Energy. She explains the decisions that have influenced the shift in government policy towards nuclear in recent months and outlines the plans for investment in new projects. The Natrium reactor, from TerraPower, is benefiting from a slice of the US$2 billion in funding from the DOE. Jeff Navin is Director of External Affairs at TerraPower, and he also joins us on the show.

The renaissance in nuclear power is driven by a multitude of factors but shifts in attitudes and the change in policy since the start of the Ukraine war have played a significant part. Maria Korsnick is the President and CEO of the Nuclear Energy Institute. She joins the podcast to explain how the next generation of nuclear reactors will help power the energy transition. David Brown is Director of the Energy Transition Service at Wood Mackenzie. He completes the panel on the show today to forecast the future of nuclear around the world. Where is investment needed, and where is it coming from? Policy needs to start rewarding nuclear for what if offers in low-carbon dispatchable power. What technologies are enabling efficient nuclear power to slot into the grid?

Wood Mackenzie’s Solar & Energy Storage Summit is back, taking place at the Palace Hotel in San Francisco on June 21 and 22. Join expert solar and storage analysts for discussions with leading grid-scale utilities, solar and energy storage developers and federal policy makers. 

How is the IRA catapulting the development of solar and storage in North America? How can we continue to build a productive environment for solar and energy storage as we move forward with the energy transition?

What is required to nurture the development of a thriving localized storage component supply chain? 

Expect two days of panel discussions, presentations and workshops, as we explore the opportunities for solar and storage in the coming decades.

If you are interested in sponsoring or attending find out more on woodmac.com/events/solar-energy-storage-summit

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Episoder(341)

The muscle we forgot: SMRs, hyperscalers, and why this nuclear renaissance might actually be different

The muscle we forgot: SMRs, hyperscalers, and why this nuclear renaissance might actually be different

Why nuclear has never been project financed and how that might finally be about to change.Every nuclear plant ever built has ultimately been backstopped by taxpayers or ratepayers. Not because the tec...

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The grid nobody planned for: public power, hyperscalers and the race to rewire America for the AI age

What two decades of flat demand means for a grid now expected to double in sizeThe US went from essentially zero load growth for twenty years to 3% national growth almost overnight. The supply chains,...

10 Mar 1h 4min

Is hyperscaler demand finally giving CCS its moment?

Is hyperscaler demand finally giving CCS its moment?

Carbon capture and storage has long been framed as a clean technology that’s forever five years away. Bridget van Dorsten speaks with Tim Vail, CEO of ION Clean Energy, to explore why a surge in AI da...

24 Feb 47min

Building the plane while it’s flying: data centers, utilities, and the new rules of power

Building the plane while it’s flying: data centers, utilities, and the new rules of power

After more than a decade of flat demand, the US power sector is now facing explosive growth, arriving faster than grids, generation, and transmission can be built. In this episode, Interim host of Int...

10 Feb 44min

Fuel cells are powering AI data center demand: they’ve moved from interesting clean tech to major player. How are utilities using them?

Fuel cells are powering AI data center demand: they’ve moved from interesting clean tech to major player. How are utilities using them?

US data centre announcements are averaging 435MW a month, and there’s around 175GW of large-load capacity already committed or under construction. AI hyperscalers are looking for innovative ways to me...

27 Jan 43min

AI, and the battle for energy in 2026. What clean energy sources are going to meet demand?

AI, and the battle for energy in 2026. What clean energy sources are going to meet demand?

AI is changing the energy system faster than almost anything we’ve seen in decades. Interim host, engineer and energy analyst Bridget Van Dorsten is joined by Ed Crooks, host of Energy Gang and Vice-c...

13 Jan 29min

How are key renewable energies faring at the end of 2025? Guest host and energy analyst Bridget van Dorsten talks through developments in geothermal, hydrogen and wind.

How are key renewable energies faring at the end of 2025? Guest host and energy analyst Bridget van Dorsten talks through developments in geothermal, hydrogen and wind.

At the start of the year things were looking uncertain for nascent renewables like hydrogen and geothermal. With policy support from the previous US administration they had boomed with the IRA, then c...

2 Des 202537min

Energy policy, technology, and utility challenges: How industry leaders are overcoming barriers

Energy policy, technology, and utility challenges: How industry leaders are overcoming barriers

Utility-scale clean energy projects in development are still facing connection queues and regulatory barriers. RE+ may be done for 2025, but the debate is still going. Host Sylvia Leyva Martinez, Rese...

18 Nov 202537min

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