Are SMRs Our Energy Future? No One Knows. But Clean Energy Is.
Indiana lawmakers made decisions that could cost all of us for decades to come: inviting utility companies to charge ratepayers now for small modular nuclear reactors (SMRs) that may never get built—and which may never work.
In the final weeks of the legislative session, Indiana has passed legislation that does more than just express interest in nuclear energy. It allows utilities to recoup their costs for SMRs from customers well before a single electron of power is generated.
There’s no sunset date on this policy—probably because lawmakers and utilities know this technology won’t be online within the next 10 years. And there’s no cost cap, either, meaning utilities can spend as much as they want, for as long as they want, with hard-working Hoosiers picking up the tab.
This isn’t the first time utility companies have asked for a blank check from state policymakers. But this time, the check is payable indefinitely — and it’s for a technology that has yet to be proven commercially viable anywhere in the United States.
Just look at what happened in South Carolina, where two proposed nuclear reactors were scrapped after years of delays, cost overruns and false promises. The project left behind a $9 billion hole in the ground—and years of higher bills for the people who had no choice but to keep paying.
Three years ago, the Tennessee Valley Authority announced it would explore developing SMRs at one of its sites in the state. They’ve submitted construction paperwork and re-applied for $800 million in federal funding to accelerate the project—but it’s anyone’s guess when the project might actually proceed.
Both examples reinforce the uncertainty of SMRs as viable energy sources any time in the near future. Meanwhile, major industrial energy users, residential customers and monopoly utilities are all leaning into clean energy solutions that can be operational within months.
Let’s be clear: We are not anti-nuclear. We are pro-reality.
There is a path forward for clean energy in Indiana—and it doesn’t require unproven technology or years of speculative investment. It’s already happening.
In 2024, Indiana ranked 10th in the nation for solar growth. That growth is being driven not by blank checks, but by real projects being constructed across our state. Thanks to forward-looking developers and strong local demand, communities across the state are already benefiting from cleaner air and new green jobs.
We also have plenty of wind potential, growing interest in battery storage and federal incentives that are making it easier than ever to invest in energy efficiency. These technologies are ready now. They’re cheaper, faster to build and already delivering returns on investment—none of which can be said for SMRs.
Indiana doesn’t need to gamble on nuclear energy just to say we’re embracing an “all of the above” strategy. We need to be honest about what’s working and what isn’t. We should invest in what’s proven, scalable and actually accessible to the communities that need it most.
Right now, instead of doubling down on clean energy, our leaders are doubling down on the barriers for clean energy while giving monopoly utilities another tool to raise rates and delay that transition. And they’re doing it in the name of a future that’s as uncertain as it is expensive.
The real energy future is already here — and it’s clean.
Clean energy is all around us. Solar panels are going up on rural barns and urban rooftops. Wind turbines are turning along our highways. Electric vehicles are taking our children to and from schools. It’s a future that works for Hoosiers, not one we’re forced to fund while we wait for nuclear magic to materialize.
We can’t afford to spend the next decade and beyond chasing a dream that may never arrive, especially not when the tools for a clean, affordable and reliable energy future are right in front of us.
