Small Modular Reactor Demonstration Act of 2024

This bill amends the Energy Policy Act of 2005 to create a program for researching, developing, demonstrating, and commercializing small modular reactors (up to 700 electrical megawatts per unit) and micro-reactors (up to 50 electrical megawatts). The Secretary of Energy must collaborate with industry, utilities, universities, and national labs to accelerate U.S. reactor technologies for domestic and international markets.

Sec. 2, Small modular reactor demonstration program: The Secretary must support a program that demonstrates various reactor technologies for power generation, heat, desalination, or industrial uses; accelerates certification and licensing of designs deployable by September 30, 2034; reduces deployment barriers; funds private-sector R&D; supports workforce development; and gives private access to federal facilities and research results.

Sec. 2(c), Demonstration projects: Within one year, the Secretary may award up to two near-term utility demonstration projects for grid-scale small modular reactors to applicants with an expected orderbook or an early site permit from the Nuclear Regulatory Commission.

Sec. 2(d), Requirements: Demonstration projects require at least 50% non-federal cost share; must consider design diversity in capital costs, end uses, waste output, recycled fuel use, technology readiness, and co-location on existing plant sites; should use lessons from Idaho National Lab and Project Pele; and must follow milestone-based authorities.

Sec. 2(e), Siting: At least one demonstration project must be located on or adjacent to a site with existing nuclear or energy infrastructure, including federal property or Tennessee Valley Authority sites.

Sec. 2(f), Authorization of appropriations: $100 million per year for fiscal years 2025-2027 for the program, plus $300 million for FY2025, $300 million for FY2026, and $200 million for FY2027 for demonstration projects.

Sec. 2(g), Report: Within two years, the Secretary must report to Congress on program activities and demonstration project progress.

Sec. 2(b), Small modular reactor siting with existing infrastructure: Within one year, the Secretary must identify priority sites for reactors at locations with existing energy infrastructure, considering cost-effectiveness, replicability, load supplementation, permitting, utility relationships, federal infrastructure, and early site permits. The Secretary must also list Department of Energy sites critical to national security that are practical for such reactors, and report to Congress.