Many politicians and technology companies are advocating for new nuclear power plants to meet the world's growing energy demands. Small Modular Reactors (SMRs), originally developed to power submarines and aircraft carriers, are gaining momentum as a faster-to-build alternative to conventional nuclear plants.
SMRs operate similarly to larger reactors, using uranium-fueled nuclear fission to generate heat, which turns water into steam to drive turbines and produce electricity. Compared to conventional plants, which can require up to 280 soccer fields in size, SMRs are more compact.
Some SMR models, known as "fast reactors," could theoretically produce 60 to 70 times more energy from uranium than traditional technology, according to the International Atomic Energy Agency (IAEA). After two decades of construction, the Onkalo facility in Finland is set to become the first SMR to open in 2026.
However, economic challenges persist. Germany's Federal Office for Nuclear Safety and Radiation Protection, citing nuclear industry figures, states that production of SMRs would only become economically viable if at least 3,000 reactors are built.
This highlights the tension between the promising technology and the scale required for cost-effectiveness in the nuclear energy sector.
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