Small Modular and Advanced Nuclear Reactors: A Reality Check

M V Ramana

doi:10.1109/access.2021.3064948

Abstract

Nuclear power has been declining in importance over the last quarter century, with its share of global electrical energy generation decreasing from 17.5 percent in 1996 to around 10 percent in 2019. Small modular and advanced nuclear reactors have been proposed as potential ways of dealing with the problems-specifically economic competitiveness, risk of accidents, link to proliferation and production of waste-confronting nuclear power technology. This perspective article examines whether these new designs can indeed solve these problems, with a particular focus on the economic challenges. It briefly discusses the technical challenges confronting advanced reactor designs and the many decades it might take for these to be commercialized, if ever. The article explains why the higher construction and operational costs per unit of electricity generation capacity will make electricity from small modular reactors more expensive than electricity from large nuclear power plants, which are themselves not competitive in today's electricity markets. Next, it examines the potential savings from learning and modular construction, and explains why the historical record suggests that these savings will be inadequate to compensate for the economic challenges resulting from the lower generation capacity. It then critically examines arguments offered by advocates of these technologies about job creation and other potential uses of energy generated from these plants to justify subsidizing and constructing these kinds of nuclear plants. It concludes with an assessment of the markets for these technologies, suggesting that these are inadequate to justify constructing the necessary manufacturing facilities.

Highlights

Countries around the world have expressed an interest in developing or deploying Small Modular or Advanced Nuclear Reactor designs
HISTORICAL AND ECONOMIC SCENARIO Underlying the drive for Small Modular Reactors (SMRs) and advanced nuclear reactors is the decline in nuclear power over the last quarter century, coming down from providing 17.5 percent of the global electrical energy generated in 1996 to around 10 percent in 2019 [10], [11]
Before we address the veracity of this claim, it should be remembered that SMRs and advanced nuclear reactors suffer these problems, albeit to different extents from standard large light water reactors

Summary

INTRODUCTION

Countries around the world have expressed an interest in developing or deploying Small Modular or Advanced Nuclear Reactor designs. This perspective article evaluates some of these claims, in the backdrop of an important constraint: economic competitiveness. It starts with a brief overview of the historical evolution of nuclear power and the drivers for SMR development This is followed with discussions of the economic challenges that confront SMRs, the designs that are more likely to be built in the near to medium-term future. It examines a few of the other arguments made by advocates of these technologies to obtain government support. It concludes with some prognostic comments about markets for these reactor designs

HISTORICAL AND ECONOMIC SCENARIO

ECONOMIC CONSEQUENCES OF REDUCED OUTPUT

Findings

CONCLUSION