The United States is significantly advancing its nuclear power initiatives, aiming for a substantial increase in capacity by 2026. This push is part of a broader strategy supported by the Trump administration, which has set ambitious goals for both public and private investments in nuclear energy. The expansion encompasses various projects, including traditional reactor development and the deployment of small modular reactors (SMR).
In October, the Trump administration announced a partnership with Westinghouse Electric Company and its co-owners, Brookfield Asset Management and Cameco, to establish a fleet of new large-scale nuclear reactors valued at a minimum of $80 billion. This initiative is focused on the development of the AP1000 pressurized water reactors, which can generate approximately 1.1 gigawatts of electricity each. These reactors are currently being utilized in the ongoing construction of units 3 and 4 at the Vogtle Nuclear Plant.
The U.S. nuclear sector has faced challenges in recent years, including project delays and high production costs. However, government financing aims to encourage the construction of new reactors, with the expectation that lessons learned from past projects will streamline future developments. Donald Trump previously signed executive orders to expedite the licensing processes for new reactors and reform the Nuclear Regulatory Commission (NRC). The administration has set a target of achieving 400 gigawatts of nuclear power by 2050, alongside plans to have ten large reactors under construction by 2030.
The NRC has responded by implementing regulations to facilitate these ambitious plans, including the elimination of redundant rules. The SMR sector is also anticipated to gain momentum in 2026 after experiencing years of delays related to licensing and access to enriched uranium, particularly following the geopolitical tensions arising from the Russian invasion of Ukraine.
Furthermore, in July, the Japanese government committed to a $550 billion trade agreement with the U.S. that includes support for nuclear energy development. Japanese corporations such as Mitsubishi Heavy Industries, Toshiba Group, and IHI Corp. have pledged investments of up to $100 billion in the U.S. for constructing both AP1000 reactors and SMRs.
Innovative projects are also on the horizon. TerraPower, co-founded by Bill Gates, is nearing approval to develop its own fleet of SMRs. The company plans to construct the Western Hemisphere’s first Natrium nuclear reactor in Kemmerer, Wyoming. This reactor will utilize liquid sodium for cooling, enhancing safety and efficiency. In December, the NRC completed its final safety evaluation, positioning TerraPower to advance with SMR development this year, contingent on permit approval.
The collaboration between tech firms and nuclear power companies is also noteworthy. Companies like Facebook, Instagram, and Meta have entered contracts to procure nuclear energy by the 2030s. This partnership not only supports the tech companies’ climate objectives but also aids in the growth of the nuclear industry.
Despite these promising developments, the nuclear sector faces hurdles, including the need for workforce training to support both construction and operational roles. A decline in industry activity has led many skilled professionals to transition to other energy sectors. Consequently, rebuilding the necessary expertise and reducing costs will be critical as the U.S. seeks to regain its competitive edge in nuclear energy.
While 2026 stands out as a pivotal year for the U.S. nuclear revival, achieving the comprehensive expansion envisioned by the Trump administration will require sustained effort over the coming years. The global landscape of nuclear energy is evolving rapidly, and the U.S. aims to reclaim its position in this crucial sector.
