Reuters: The $24 billion project to build a nuclear power plant at Hinkley Point in the UK has inspired several companies and government agencies to begin exploring the potential usefulness of small modular reactors (SMRs). Those scaled-down versions of reactors comprise a series of smaller parts, or modules, that can be made in factories, easily transported to a construction site, and assembled in just 6 to 12 months. Many companies envision using multiple SMRs in the place of a single large reactor because they could produce nearly as much electricity at a fraction of the cost. The UK's National Nuclear Laboratory estimates that by 2035, up to 7 GW of electricity—more than twice the planned capacity of the Hinkley Point power plant—could be generated by SMRs.
