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Small-Scale Nuclear: U.S. Prospects and Global Context


Global Nuclear Expansion

  • Operating (2026) - 440 reactors in 31 countries
  • Under Construction - 80 reactors
  • Planned & Proposed - 120 planned and 300+ proposed
  • China leads in construction, planning, and proposals.
  • COP 28 - Declaration to Triple Nuclear Energy with 38 countries signed on.
  • Data Centers & AI demand now a driver of nuclear expansion.


Small Modular Reactor Landscape

  • Global Design Maturity (By Share) - Conceptual (40%), Basic Design (18%), Detailed Design (24%), Under Construction (8%), Operating (6%),Other (4%)
  • Operational SMRs Worldwide: 4 units - Russia (2), China (1), Japan (1)
  • No commercial SMRs operating in the US
  • One construction approval - TerraPower, Wyoming. 345 MWe


Future Outlook

  •  Key Risks: Technology, Market, Regulatory, Political, and Waste Disposal 
  • Most Likely Path: Demonstration Reactors on military bases or federal research sites. Commercial deployment only after proven cost, performance, public acceptance, and regulatory clarity.
  • Analysts remain skeptical: Nuclear may remain viable mainly for remote regions, high-cost energy markets, or large industrial loads (ex., data centers). Remote regions, High-cost energy markets, and Large industrial loads.

Read the full report.

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