Today the Senate passed legislation sponsored by Senator and Bob Smith and Senate President Nick Scutari that would authorize the Board of Public Utilities (BPU) to provide site approval for small modular reactors (SMRs) that would be required to store spent nuclear waste on-site consistent with existing safety regulations.
SMRs are a new, promising form of nuclear energy that are smaller than traditional nuclear fission plants currently in operation, typically generating up to 300 MW of electricity per unit compared to 1,000 MW or more in a typical nuclear plant. Designed to be manufactured in standardized units and then transported to sites for final assembly, as well as coming with the ability to add more units over time to scale up to demand, they represent a potentially faster way of increasing nuclear energy capacity. The U.S. Department of Energy, as part of an initiative started under the Biden Administration, is pushing a $900 million program to support the commercial deployment of SMRs.
“With rising utility prices and increasing demand for electricity as we pursue electrification, New Jersey needs to increase our production capacity without worsening climate change with new fossil fuel burning facilities,” said Senator Smith (D-Middlesex/Somerset), Chair of the Senate Environment and Energy Committee. “Properly regulated nuclear power is reliable, safe, and most importantly does not emit greenhouse gases. Considering federal investment in SMRs, this bill will ensure we are ready to take advantage of them to power a clean energy future.”
The bill, S-4423, would authorize the BPU to provide site approval to an SMR in consultation with the Department of Environmental Protection only if the SMR is to be located in a municipality in which a nuclear facility has previously been constructed. The BPU would also be required to develop, within a year of the bill’s enactment, a program to provide financial incentives to support the construction of SMRs within the state.
“New Jersey has a clear need for new energy production to help hold down utility costs, but we also want our energy investments to include the production of clean energy,” said Senate President Scutari (D-Union/Somerset). “Nuclear energy fulfills both of those needs, and SMRs are an innovative way to help ensure that they are deployed more quickly in locations that previously had traditional nuclear facilities. This incentive program will help facilitate the production of additional clean energy in a manner that is safe, reliable and cost efficient.”
The legislation would define SMRs as a nuclear fission reactor that:
• has a rated electric generating capacity of no more than 300 megawatts;
• is capable of being constructed and operated alone or in combination with one or more similar reactors if additional reactors become necessary; and
• is required to be licensed by the United States Nuclear Regulatory Commission.
