The signal
Several countries have approved designs and the first projects are under construction, including in Ontario. No design has yet shown the low costs and fast timelines promised.
Where it could lead
Reliable clean power is in high demand, especially for AI data centres. If SMRs deliver, they could become a major power source; if not, nuclear’s reputation for cost overruns continues.
Evidence that would strengthen the case
- First units delivered on schedule and near budget
- Later units get cheaper as factories scale
- Utilities and tech companies place multi-unit orders
What could prevent it
- Cost overruns and delays on first projects
- Regulatory processes remain slow
- Renewables plus storage stay cheaper