Small Modular Reactors: One Solution to South Carolina’s Big Power Problem
Energy demand in South Carolina is rising. Both families and prospective businesses are poised to draw more from South Carolina’s power infrastructure. The estimated air conditioning costs this summer are already projected to be roughly $100 higher than last year, especially concerning given that South Carolina consistently ranks among the states with the highest household energy bills in the country. This growing demand requires reliable and affordable solutions if South Carolina wishes to remain a hotspot for economic opportunity.
South Carolina needs to generate more power, but policymakers and utility providers face difficult questions about how to maintain reliability, control costs, and ensure scalability without sacrificing economic competitiveness. To address this demand, South Carolina need more affordable and scalable energy production, not in the colossal, centralized form of something like V.C. Summer. One possible solution is Small Modular Reactors (SMRs).
SMRs represent one of the most promising energy technologies currently under development. These next-generation nuclear reactors are designed to be smaller, safer, more flexible, and most importantly, more affordable than traditional large-scale nuclear plants. For South Carolina, SMRs could address future energy challenges while supporting long-term economic growth.
SMRs differ from the V.C. Summer Plant in several important ways. Traditional reactors such as V.C. Summer require massive, highly specialized on-site construction projects that can take many years to complete, in-part because the reactor itself has to be built on-site. SMRs, by contrast, are designed around modular construction. Many reactor components can be manufactured in factories and assembled on-site, reducing complexity and potentially lowering construction risks. Current cost estimates for SMR projects are generally lower than traditional reactor projects namely because of prefabricated components, less particular zoning demands, and shorter construction timelines. For a further breakdown of SMR technology, please read Research Fellow Jennifer Buckley’s report on SMRs here.
Naturally, one concern surrounding nuclear energy in South Carolina is our unfortunate history with the V.C. Summer nuclear project. The expansion of the plant was intended to build two additional traditional reactors at an estimated cost of roughly $9 billion, the project became plagued by delays, contractor failures, and cost overruns. By the time construction was abandoned, approximately $10 billion had already been spent while projected completion costs had ballooned to more than $20 billion. On July 31st, we will pass the ninth anniversary of the expansion project’s shutdown.
While that failure should not be ignored, the doors to nuclear power should not be closed either.
Reliable and affordable electricity is essential in becoming a target location for prospective developers. Manufacturers, data centers, logistics companies, and other energy-intensive industries increasingly prioritize states capable of delivering abundant and dependable power. If South Carolina wants to continue attracting investment and creating new high-paying jobs, it must be prepared to meet future energy demand. SMRs also draw upon a pool of labor expertise that South Carolina already possesses. South Carolina already hosts four nuclear energy plants which service a total of seven reactors. We already possess a skilled workforce, and existing educational infrastructure capable of supporting advanced energy development.
Any major infrastructure investment requires careful oversight, realistic cost projections, and responsible management. South Carolina’s future economic competitiveness depends on energy abundance, reliability, and affordability. SMRs can offer a more predictable and affordable way to meet South Carolina’s rapidly growing demand, and policy makers should be ready to pave the way for new energy projects.
Stay tuned around the end of this month as we will be releasing a more comprehensive white paper about SMRs.
