The United States is moving forward with significant plans to expand its nuclear power capabilities, marking a renewed focus on this clean energy source. Former President Donald Trump has set ambitious targets for the rapid growth of nuclear capacity, supported by both public and private investments. This initiative includes a diverse range of projects, from the development of conventional reactors to the deployment of small modular reactors (SMR).
As the U.S. aims for a nuclear revival, projections indicate that 2026 could be a pivotal year for the industry. After a prolonged period of stagnation, the country is now investing heavily in nuclear projects, with plans in place for more nuclear developments than in any other decade since the 1970s. In October, the Trump administration announced a partnership with Westinghouse Electric Company and its co-owners, Brookfield Asset Management and Cameco, to develop a fleet of new, large-scale nuclear reactors valued at approximately $80 billion.
The funding will primarily support the development of Westinghouse’s AP1000 pressurized water reactors, which can generate around 1.1 gigawatts of electricity. These reactors are currently utilized at the Vogtle Nuclear Plant in Georgia. Previous delays and the high costs associated with reactor production had deterred private companies from committing to new projects. However, government financing aims to facilitate the rollout of several new reactors, with hopes that lessons learned from past experiences will lead to a more efficient development process.
In May 2022, President Trump signed four executive orders intended to hasten the licensing of new reactors and streamline development processes. The goal includes achieving 400 gigawatts of nuclear power by 2050 and starting construction on ten large reactors by 2030. In response, the Nuclear Regulatory Commission (NRC) published new regulations to implement these orders, which include the removal of redundant regulations.
The SMR sector is also poised for growth in 2026, following years of delays attributed to licensing issues and limited access to enriched uranium, particularly after the geopolitical tensions arising from Russia’s invasion of Ukraine. In July 2023, the Japanese government committed to a $550 billion trade agreement with the United States, aimed at bolstering nuclear development. Japanese firms such as Mitsubishi Heavy Industries, Toshiba Group, and IHI Corp. have pledged investments totaling up to $100 billion for constructing both AP1000 and SMR reactors in the U.S.
Looking ahead, TerraPower, the nuclear company co-founded by Bill Gates, is nearing approval for its own fleet of SMRs. The firm plans to build the Western Hemisphere’s first Natrium reactor in Kemmerer, Wyoming, using liquid sodium for cooling instead of water, enhancing safety and efficiency. The NRC completed its final safety evaluation in December 2023, paving the way for TerraPower to advance its SMR development, pending permit approval. The company aims to produce between 345 megawatts and 500 megawatts of clean power by 2030.
Several major technology companies, including Facebook, Instagram, and Meta, have signed contracts with nuclear power providers to secure new nuclear energy supplies by the 2030s. This partnership will enable these tech firms to power their large-scale data centers with clean energy, aligning with their climate goals. The substantial financial commitments from these companies are expected to accelerate the development of both conventional reactors and SMRs, contingent upon NRC approvals.
Despite the promising developments, the U.S. faces challenges in rebuilding its nuclear workforce, which has seen a decline due to insufficient ongoing employment opportunities in recent years. Many trained professionals have transitioned to other energy sectors, and the country must work to enhance its nuclear construction skills and reduce costs to avoid delays.
While other nations have been increasing their nuclear energy capabilities, the U.S. has struggled to maintain its competitive edge in this sector. Although 2026 holds promise for a nuclear resurgence, it will likely take several years to expand the nation’s nuclear power capacity in line with Trump’s ambitious goals.
