Dodo Finance: A Closer Look at the Short-lived First Small-Scale Nuclear Plant in the US

Title: Carbon-Free Power Project Cancelled, Leaving Nuclear Industry Struggling

In 2015, plans were unveiled for a groundbreaking project in the field of nuclear technology. A group of city- and county-run utilities in the Mountain West region announced their intentions to build a small modular reactor (SMR), known as the Voygr model, designed by startup NuScale. The goal was to revive the struggling US nuclear industry and reduce carbon emissions by constructing a six-reactor, 462-megawatt plant by 2026.

However, on Wednesday, NuScale and its supporters delivered disappointing news. The Carbon Free Power Project (CFPP) in Idaho Falls, which was set to host the SMR, had to be cancelled due to a lack of additional customers willing to purchase the power generated by the plant.

For the utilities involved, members of UAMPS (Utah Associated Municipal Power Systems), the SMR presented a potential solution to reduce carbon emissions. The Department of Energy had awarded $1.4 billion to the project over a decade, and Idaho National Lab was prepared to host the plant. However, the utilities became increasingly concerned about rising costs and the absence of commitments to buy the plant’s future power.

To ensure its long-term viability, the project required an 80% commitment level from customers by the end of the year. Unfortunately, it fell short, with less than 25% of its power output covered. Despite recent expressions of confidence from local officials about securing new backers, the decision to cancel the project was ultimately made.

The cancellation has raised concerns in communities like Los Alamos, New Mexico, which viewed the SMR as a crucial solution to meet decarbonization goals and replace aging fossil fuel plants. With the project’s demise, the nuclear industry in the United States faces yet another setback, as hopes for this cutting-edge technology to revitalize the sector are dashed.

The CFPP was not just a local endeavor; it held the promise of transforming energy generation on a larger scale. As the world continues to grapple with the urgent need to combat climate change, the cancellation serves as a reminder of the challenges and uncertainties faced when pioneering new forms of clean, sustainable energy.

For now, it seems that the dream of a sustainable and carbon-free nuclear future will have to be put on hold, as the industry contends with financial and logistical obstacles. It remains to be seen whether alternative solutions will emerge to fill the void left by the cancelled SMR project, or if the nuclear industry will need to explore different avenues to achieve its green energy ambitions.

At present, the shadow of uncertainty looms large over the US nuclear industry, leaving stakeholders and experts wondering what lies ahead for this once-promising frontier of nuclear technology.