The US Department of Energy (DOE) has announced it will fund up to $900m to support the deployment of small modular reactors (SMRs).

In a statement by the DOE, the development of SMRs will help the US increase its nuclear energy capabilities, drive clean energy goals and create skilled job opportunities.

The advantages of SMRs over nuclear power reactors lie predominantly in the fact that they are a fraction of the size of a conventional nuclear power reactor and are modular. These features alone help lower overall project costs compared to large nuclear power plants.

SMRs can more easily be built in factories as prefabricated units, then shipped and installed in a variety of settings not suitable for larger nuclear power plants.

Another advantage is that SMRs have the ability to meet smaller localised power demands, can be scaled up for larger demand or can used to complement renewable energy sources.

To reach net zero emissions by 2050, the DOE estimates the US will need an additional...