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NuScale Power Corp. and a Utah utility consortium canceled the Carbon Free Power Project, the US's first small modular reactor (SMR), due to a 53% increase in projected power costs from $58 to $89 per megawatt-hour, rendering it economically unviable. This decision reflects the challenges in the SMR sector, which has been touted as a solution to traditional nuclear's cost issues.

Despite receiving substantial federal funding and regulatory approval, the project could not overcome economic and regulatory hurdles. The timeline for SMR deployment is also problematic, as competing renewable energy technologies are advancing rapidly.

Other projects, such as TerraPower's Natrium reactor in Wyoming, are under scrutiny to assess their potential. The UK is pursuing its own SMR initiatives, but global cost overruns and delays pose significant risks. Proponents argue the need for reliable, carbon-free energy remains urgent despite these setbacks.