It’s been a big year for nuclear energy in the U.S. The Department of Energy has allocated a large amount of capital to nuclear energy research and has committed $900 million to advance Gen III+ (more on them below) small modular reactors (SMRs). The Inflation Reduction Act’s inclusion of nuclear energy has opened opportunities for tax credits for investors in nuclear projects.  Southern Company’s Vogtle plant’s second new reactor started sending power to the grid in April.

Most recently, on September 20, Microsoft and Constellation announced that they will reopen a reactor at Constellation’s Three Mile Island nuclear energy center in Pennsylvania to power Microsoft data centers. Microsoft agreed to pay $16 billion to restart the Unit 1 reactor which has a capacity of 835 megawatts. It was shut down in 2019 under financial pressure from growing competition with cheap natural gas. (The Unit 2 reactor was destroyed in 1979 accident and is undergoing decommissioning;  however, the U.S. Nuclear Regulatory Commission (USNRC) noted there were no deaths or accidents, or discernible health effects from some small radioactive releases.) Microsoft has agreed to buy up to 100% of the electricity produced by Unit 1. This is part of the tech giant’s efforts to secure enough reliable, low-carbon electricity to supply its energy-thirsty data centers powering the boom in artificial intelligence.