Small modular reactors have collected a lot of hype and very little concrete. That may be about to change. The Department of Energy has selected Holtec International and the Tennessee Valley Authority for up to $800 million in cost-shared funding to advance the first U.S. deployments of advanced light-water small modular reactors, with early projects in Michigan and Tennessee.
Where the small modular reactors go first
Holtec plans to build two of its SMR-300 units at Palisades, the recently restarted nuclear plant on the Lake Michigan shore, with construction that could start in 2026 and first power around 2030. Siting reactors next to an operating station lets Holtec reuse grid ties, cooling water, and a trained workforce, which trims cost and permitting risk. TVA is advancing its own early units in Tennessee.
The catch is the schedule
SMR timelines have a habit of slipping, and the economics aren’t yet proven at commercial scale. What’s different here is federal money attached to specific sites rather than another feasibility study. If Holtec hits its dates, Palisades becomes a template for bolting firm carbon-free power onto existing nuclear land instead of greenfielding a new plant.
Our Holtec Palisades SMR-300 listing has the full project breakdown. The DOE announcement lays out the funding structure.