Canada is setting its sights on a future powered by small modular nuclear reactors (SMRs), marking a significant shift towards nuclear innovation in the quest for a net-zero future. The resurgence of nuclear technology, from traditional large reactors to compact SMRs, is gaining momentum as a promising non-emitting source of electricity for both urban centers and remote communities.
A recent report by the RBC Climate Action Institute titled ‘Think Small: How Canada can make small modular nuclear reactors a priority’ highlights the potential of SMRs in revolutionizing the energy landscape. The report projects that Canada will need to invest in building 85 SMRs, with an estimated cost ranging from $102 billion to $226 billion, to achieve its net-zero emissions target by 2050.
Moreover, Canada has the opportunity to position itself as a global leader in SMR technology, akin to its historical success with the Canada Deuterium Uranium (CANDU) reactors in the mid-20th century. Provinces such as Ontario, New Brunswick, Saskatchewan, and Alberta are actively exploring the integration of SMRs to decarbonize industries and bolster grid resilience.
One of the key benefits of SMRs lies in their contribution to Canada’s energy security and the economic advantages of leading the global market in this innovative technology. To delve deeper into the potential of SMRs, a visit to the Darlington Nuclear Generating Station, home to Canada’s first grid-scale SMR site, provides valuable insights.
In a recent podcast episode hosted by John Stackhouse, prominent figures in the nuclear industry, including Nicolle Butcher, COO at Ontario Power Generation; Bill Labbe, CEO at ARC Clean Technology Canada; and Heather Chalmers, CEO at GE Vernova, discuss the pivotal role of SMRs in shaping a sustainable, low-emission future. The consensus among industry leaders is that commercializing SMRs presents a promising pathway towards a cleaner energy landscape.
As Canada navigates towards a future powered by SMRs, the potential for nuclear power to play a significant role in reducing emissions and enhancing energy sustainability becomes increasingly evident. The transition to SMRs not only aligns with Canada’s climate goals but also opens up new avenues for economic growth and global leadership in the nuclear energy sector.
