The market for small modular nuclear reactors (SMRs) is growing, with the global SMR market expected to reach $13 billion this year. SMRs are smaller and cheaper than traditional nuclear plants, making them suitable for a variety of industrial uses such as electrifying mining sites, powering desalination, and providing energy for small communities. Companies, both large and small, are developing prototypes for SMRs, with hundreds of companies involved in the industry. However, there are differing opinions on the viability of SMRs, with some experts expressing skepticism about the resources and time necessary for their development. The main barriers for SMR companies include funding, public perception about safety concerns, and the cost and time for licensing and regulatory processes. However, there is a push for SMRs due to the need for low-carbon energy and the potential for decarbonization.
Thu, 03 Aug 2023 09:37:53 GMT | GreenBiz