The International Energy Agency forecasts small modular reactor investments to grow fivefold this decade, reaching a cumulative $670 billion by 2050.
Investments in small modular reactors (SMRs) could rise from $5 billion today to over $25 billion by 2030, according to the International Energy Agency. The agency projects cumulative spending to reach $670 billion by 2050 as demand grows for flexible, lower-cost nuclear power solutions.
SMRs offer modular, prefabricated designs that reduce construction time and costs compared to traditional nuclear plants. Their smaller size makes them suitable for remote areas and direct applications like powering data centers. The IEA’s outlook reflects increasing interest in cleaner energy alternatives.
Companies like NuScale Power (SMR) and GE Vernova (GEV) are positioning to capitalize on the market’s expansion. NuScale’s VOYGR SMR is the only design certified by the U.S. Nuclear Regulatory Commission, while GE Vernova’s BWRX-300 targets mid-sized power generation.