Research @ Citi Episode 67: Megawatts & Megatrends – Nuclear’s Second Act
Feb 27, 2026
Vikram Bagi, a Citi Research analyst focused on clean-energy tech and nuclear power, discusses nuclear’s comeback. He covers policy and capital driving momentum. He explains faster licensing and DOE fast-track sites. He outlines SMR deployment, grid impacts, and how the U.S. stacks up against China.
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Nuclear's Unprecedented Policy Capital And Tech Convergence
- Nuclear now has three aligned pillars boosting its prospects: bipartisan policy support, large private capital inflows, and diverse technology R&D.
- About 130 reactor technologies exist globally and ~45 are being developed in the U.S., expanding optionality for deployment.
Leverage New Fast Track Regulatory Pathways
- Use accelerated government pathways to speed deployment: the Advance Act shortens NRC review to 18 months and DOE selected sites offer a faster testing route.
- DOE-selected reactors can reach criticality faster by testing on DOE sites and sidestepping initial NRC timelines.
Criticality Is A Testing Milestone Not Commercial Power
- Criticality means a reactor achieves a sustained, controllable chain reaction allowing system tests but not immediate commercial power sales.
- DOE's July 4 directive could include radioisotope reactors that help medicine and industry even if not grid generators.