President Biden Signs ADVANCE Act to Boost Nuclear Industry
On [DATE], President Joe Biden signed the ADVANCE Act into law, marking a significant step forward for the nuclear industry and the development of new nuclear power plants in the United States. The Act is part of the Biden-Harris Administration’s Investing in America agenda, which aims to reenergize the domestic nuclear power sector through historic investments and tax incentives provided by the Bipartisan Infrastructure Law and Inflation Reduction Act.
The ADVANCE Act is expected to play a crucial role in achieving the United States’ goal of tripling its nuclear capacity. The Act introduces prize competitions to incentivize the deployment of new reactors and fuels, with awards covering the total costs assessed by the Nuclear Regulatory Commission (NRC) for first movers in various areas. Additionally, the Act directs the NRC to reduce certain licensing application fees and authorizes increased staffing for NRC reviews to expedite the process.
Focus on Microreactors and Domestic Fuel Supply
One of the key focuses of the ADVANCE Act is on small reactor technologies, known as microreactors. These reactors will be licensed and regulated within 18 months, and the Act eliminates costs associated with pre-application activities and early site permits. This move is expected to accelerate the deployment of microreactors across the country.
The Biden-Harris Administration is also working to establish a reliable domestic supply of fuels for advanced reactors, including high-assay low-enriched uranium (HALEU) and TRISO fuels. This effort is part of the administration’s broader strategy to reduce reliance on Russian uranium, as evidenced by the signing of the Prohibiting Russian Uranium Imports Act and investments in domestic enrichment capacity.
Supporting the Nuclear Workforce
The nuclear industry directly employs nearly 60,000 workers in the United States, and the growth of the sector is expected to create even more job opportunities. To support this growth, the Consolidated Appropriations Act of 2024 made available $100 million for nuclear workforce training programs at universities, 2-year colleges, and trade schools.
The signing of the ADVANCE Act and the accompanying investments in the nuclear industry demonstrate the Biden-Harris Administration’s commitment to clean energy and reducing dependence on foreign sources of uranium. As the United States works towards tripling its nuclear capacity, the ADVANCE Act is set to play a pivotal role in shaping the future of the nation’s energy landscape.
Sources:
– [Official White House statement on the signing of the ADVANCE Act]
– [Nuclear Energy Institute report on the impact of the ADVANCE Act]
