Nuclear energy: The definitive solution to powering America’s future
By U.S. Sen. Jim Risch, R-Idaho
America is experiencing a renaissance of significant industrial investment as businesses that were once outsourced return home and wide-ranging technological developments emerge.
This is good news and a sign that our pro-America policies are working. However, with this growth comes a pressing challenge: a looming surge in demand for domestic electricity. To meet the moment, we must significantly expand our capacity to generate electricity that is reliable, always on, and available without risk of outage. Nuclear energy stands alone as the definitive solution.
Nuclear energy is America’s creation. It helped power our rise to global prominence and will be essential in our mission to leave future generations a safer, cleaner, more secure, and more prosperous future. To achieve this, we must preserve our existing nuclear infrastructure while improving our ability to develop, deploy, and commercialize advanced technologies.
These efforts are essential to meet increases in electricity demand, fortify our domestic energy supply, propel advanced manufacturing, and protect national security.
In my home state of Idaho, the Idaho National Laboratory (INL) exemplifies this mission. The INL was the first place in the world to successfully demonstrate that a nuclear reactor could generate electricity, and today, it remains the flagship laboratory for nuclear energy. The INL is making significant progress in driving new nuclear research through initiatives like the Project Pele reactor, which will demonstrate the ability of mobile microreactor technology to provide safe, reliable, on-demand energy.
This is just the start. Over the next decade, a multitude of breakthroughs will begin demonstration, from microreactors to small-modular reactors and other advanced technologies. These reactors will provide a host of benefits, especially for supporting energy-intensive industries and rural areas.
Nuclear is the silver bullet for a virtually limitless clean energy supply to power our future. To unlock its potential, it is essential that American nuclear technologies can advance beyond first-of-a-kind development.
While there is great interest in new nuclear technologies, the risks of early adoption are a significant barrier. Uncertainties in cost and timeline make it particularly difficult to provide the assurance investors and regulators require. To remain a global leader in nuclear and establish an infrastructure of advanced reactors that can meet growing energy demands, the United States and Congress must act decisively to mitigate these short-term risks, spurring investment and ultimately protecting ratepayers.
This Congress, I will reintroduce my Accelerating Reliable Capacity (ARC) Act to create a limited risk reduction program for new, large capital investment commercial reactors. This will not be a handout. Project proponents will carry significant financial responsibility and undergo rigorous due diligence to reduce cost overrun risk from the offset. This legislation will not create a limitless backstop or incentivize poor practices but provide enough risk reduction to propel American nuclear energy forward in the critical period of early commercialization.
The ARC Act is a critical step for facilitating investment in advanced nuclear technologies that will meet our demand for clean, reliable baseload power and support technology, manufacturing, and communities nationwide. But the implications of this investment extend far beyond our borders.
Globally, nuclear reactor construction is accelerating. To date, the U.S. has set the world’s standards on nuclear safety and nonproliferation. However, Russia and China are rapidly gaining ground, even dominating the global market and supply chains for new nuclear projects.
This may seem like a distant issue when discussing nuclear to meet domestic infrastructure needs, but it isn’t. If the U.S. fails to lead in delivering nuclear technology, our industries will struggle to compete, our economy will falter, and our security at home and abroad will be severely weakened. If we don’t have viable, commercialized technology to sell, we are allowing our adversaries to overtake us in supplying nuclear technologies to the world. More consequentially, we risk becoming reliant on them for the very technology we pioneered.
The United States stands at a crossroads. Our nuclear energy industry can flourish and provide mass economic and security benefits if we put it on the right footing.
As a nation, we cannot afford to turn a blind eye and miss this opportunity. By reducing risks and spurring investment in advanced nuclear, we can meet growing energy demands, fortify national security, and establish a robust national nuclear infrastructure to power our future. The time to act is now.
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U.S. Sen. Jim Risch (R-Idaho) is chairman of the Senate Committee on Foreign Relations and a senior member of the Senate Committee on Energy and Natural Resources.