The Role of Small Modular Reactors in Decentralizing Energy Production: Assessing Economic Viability, Safety, and Environmental Impact in Underdeveloped Regions

The global energy landscape faces many challenges, including meeting energy requirements while ensuring a smooth transition into sustainable energy usage. This challenge is particularly exacerbated in underdeveloped/developing regions due to poverty, lack of technology, and environmental concerns. As stated by the World BankWorldBank, “Developing countries face a triple penalty when transitioning to clean energy: They often pay more for electricity, cannot access clean energy projects, and are locked into fossil fuel dependency.”These developing countries typically do not have access to reliable clean energy as it requires immense amounts of capital/investments and, therefore stuck in the “energy trap.” Although considered a fairly novel technology, the potential of small modular reactors (SMRs) should not be underestimated and provide an innovative way to address the energy demands of a growing society.