Abstract
The purpose of this paper is to recommend a break-even point for the capital investment cost for a Sodium-cooled Fast Reactor (SFR) when choosing between a Pyro-SFR nuclear fuel cycle (recycling option via Pyro-processing) and a direct disposal option. This is because the selection of an alternative cannot be justified without a guarantee of economic feasibility. The calculation of a break-even point is necessary because SFR capital investment cost makes up the largest share of the cost for electricity generation. In other words, the cost of capital investment is an important cost driver, and the one that exerts the greatest effect on Pyro-SFR nuclear fuel cycle economics. In the end, the break-even point of the SFR capital investment cost between the Pyro-SFR nuclear fuel cycle and the direct disposal was calculated to be 4284 US$/kWe. In other words, it is possible to claim that the potential for the economic viability of the Pyro-SFR nuclear fuel cycle is greater (compared to investing in direct disposal) when the SFR capital investment cost is 4284 US$/kWe or less. In addition, Pyro-SFR technology will enable sustainable nuclear power generation.
Highlights
Korea is exerting efforts to ensure the sustainable use of nuclear power by reducing the substantial inventory of nuclear spent fuel in temporary repositories in nuclear power plants
Because the recovered uranium is utilized as a raw material of Sodium-cooled Fast Reactor (SFR) fuel [1], does it reduce the inventory of spent fuel, it can greatly increase the efficiency of disposal
The capital investment cost calculated using the engineering cost estimation method (for setting up the KAPF+ (Korea Advanced Pyroprocess Facility Plus) that the Korea Atomic Energy Research Institute (KAERI) designed conceptually as the cost object) entails conversion of Sustainability 2017, 9, 1518 the costs during seven years that were input during the early stage of the Pyro-processing facility construction as the present value [9]
Summary
Korea is exerting efforts to ensure the sustainable use of nuclear power by reducing the substantial inventory of nuclear spent fuel in temporary repositories in nuclear power plants. Against this backdrop, Korea is considering the direct disposal of spent fuel and Pyro-processing, which offers high proliferation resistance. An analysis of economic feasibility, which is the most important factor, must be conducted when comparing direct disposal and Pyro-SFR (Sodium-cooled Fast Reactor). This is because the selection of an alternative cannot be justified without a guarantee of economic feasibility. Because the recovered uranium is utilized as a raw material of SFR fuel [1], does it reduce the inventory of spent fuel, it can greatly increase the efficiency of disposal
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