Small Modular Nuclear Reactors May Become The Go-To Energy Source

Small Modular Nuclear Reactors May Become The Go-To Energy Source

Factory at sunset in Cleveland, Ohio (Photo by: Joe Sohm/Visions of America/Universal Images Group ... [+] via Getty Images) Can renewable energy replace electric power plants that run 24-7 — including nuclear energy — once battery storage matures and the transmission grid expands? It's unlikely, given that the intermittent nature of renewables requires a backup source — something that can kick on when the weather is not agreeable. Enter small modular nuclear reactors, which may become the go-to energy source — built to run consistently and as a flexible, carbon-free resource. Those right-sized reactors are emerging now that the U. S. government has incentivized them, making them more attractive for lenders and utilities. The growth potential is enormous as state and international governments make initial preparations. "You simply must have some form of reliable, baseload power because you can't get there with assets that operate (part of) the time," says Jeff Merrifield, partner, Pillsbury Winthrop Shaw Pittman, and a former Nuclear Regulatory Commissioner. "A nuclear power plant is more costly upfront, but it is an asset that operates for 80 years. If you compare that to wind and solar, they generally have 20-year lifetimes and batteries of around eight years.