New Jersey Small Modular Nuclear Energy Incentive Act to promote construction of small modular reactors.

The New Jersey Small Modular Nuclear Energy Incentive Act establishes a program to incentivize the construction of small modular reactors (SMRs) in the state. The Board of Public Utilities (BPU) will develop a competitive solicitation program for awarding SMR incentive contracts. SMRs are compact nuclear reactors with a capacity of up to 300 megawatts, designed for factory assembly and installation. The BPU will issue financial incentives for each megawatt hour of electric energy produced by an SMR, determined through a competitive bidding process.

New Jersey Small Modular Nuclear Energy Incentive Act to promote construction of small modular reactors.

The New Jersey Small Modular Nuclear Energy Incentive Act establishes a program to incentivize the construction of small modular reactors (SMRs) in the state. The Board of Public Utilities (BPU) will develop a competitive solicitation program for awarding SMR incentive contracts. SMRs are compact nuclear reactors with a capacity of up to 300 megawatts, designed for factory assembly and installation. The BPU will issue financial incentives for each megawatt hour of electric energy produced by an SMR, determined through a competitive bidding process.