Publication date:
June 19, 2024
US Senate Approves Vital Legislation to Accelerate Nuclear Energy Development
The US Senate has passed the ADVANCE Act, facilitating the permitting and construction of new nuclear reactors to address America's growing energy demands.
Nuclear
The US Senate has overwhelmingly endorsed the ADVANCE Act, a significant legislation streamlining the licensing and construction of new nuclear reactors to meet the country's escalating energy requirements. This bipartisan bill, with only two opposing votes, awaits President Biden's expected approval. The ADVANCE Act signifies a pivotal step in advancing clean energy. The legislation is a crucial move to revive the aging domestic nuclear industry and propel cutting-edge nuclear technologies globally. The bill aims to reduce developer costs by simplifying permitting processes, lowering fees, and expediting approvals, accelerating the development of innovative projects like small modular nuclear reactors. Additionally, the act incentivizes the deployment of advanced American nuclear technologies worldwide to compete with Russia and China for global nuclear energy leadership. This milestone legislation is poised to boost traditional large reactors like Georgia Power's recently operational Vogtle Plant units 3 and 4, marking the most extensive clean energy generator in the US. The bill not only supports existing nuclear endeavors but also paves the way for innovative projects like TerraPower in Wyoming, focusing on cost-efficient small reactors. The US nuclear sector is transitioning towards embracing advanced technologies to meet future energy demands effectively.