US Senate Approves Bill to Boost Nuclear Energy Development and Deployment

By Jace Dela Cruz

Jun 19, 2024 08:47 AM EDT

The US Senate approved on Tuesday a bill to speed up the deployment of nuclear energy capacity. According to Reuters, the legislation focuses on expediting permitting processes and establishing new incentives for nuclear reactor technologies.

US Senate Approves Bill to Advance Nuclear Energy

The expansion of nuclear power has garnered broad bipartisan support. Democrats view it as essential for decarbonizing the power sector, while Republicans see it as a means to ensure a reliable electricity supply.

The bill has already passed the House of Representatives and awaits President Joe Biden's signature to become law. The Senate passed the bill with an 88-2 vote.

READ NEXT: Bill Gates Announces Billions for Next-Gen Nuclear Plant in Wyoming to Address US Energy Demand

Nuclear Power Plant

(Photo : Markus Distelrath from Pixabay)

Reducing Regulatory Costs

The bill aims to reduce regulatory costs for companies licensing advanced nuclear reactor technologies, establish a prize for deploying next-generation reactors, and expedite nuclear facility licensing.

This development follows a report revealing that the US is 15 years behind China in developing high-tech nuclear power. 

READ MORE: OpenAI CEO Sam Altman Debuts Nuclear Power Company Oklo On NYSE

© 2024 VCPOST, All rights reserved. Do not reproduce without permission.

Join the Conversation

Real Time Analytics