Small Modular Reactors (SMRs), with electrical power up to 300MW
per module, have specific design, safety and siting features, as well as
a wide range of applications. In response to increased interest, the
IAEA is launching a 3-year, Coordinated Research Project (CRP) focusing
on the economics of SMRs, including micro-reactors, by providing Member
States with an economic appraisal framework for their development and
deployment.
The new generation of nuclear power reactors is relatively small in size compared to large, gigawatt-scale, nuclear power plants. Micro-reactors are MW-scale, factory-built SMR that can be easily transported — by trucks, ships, airplanes or railcars — to provide reliable heat and power in remote areas and small power grids.
SMRs can be used to generate electricity, process heat and ancillary services in evolving power grids, relying increasingly on variable generation from renewables and a variety of energy storage systems. Their reduced size, upfront costs, and construction times would make them easier to deploy compared to large nuclear power plants.
Multiple SMR projects are currently under development (about 50 designs and concepts) and have varying technology readiness levels. Their costs and delivery times need to be adequately estimated, analyzed and optimized. Specific business models have to be developed to address markets’ needs and expectations. The market itself should be large enough to sustain demand for components and industrial support services. The economic impact of SMR development and deployment has to be quantified and communicated to gain societal support.
The new generation of nuclear power reactors is relatively small in size compared to large, gigawatt-scale, nuclear power plants. Micro-reactors are MW-scale, factory-built SMR that can be easily transported — by trucks, ships, airplanes or railcars — to provide reliable heat and power in remote areas and small power grids.
SMRs can be used to generate electricity, process heat and ancillary services in evolving power grids, relying increasingly on variable generation from renewables and a variety of energy storage systems. Their reduced size, upfront costs, and construction times would make them easier to deploy compared to large nuclear power plants.
Multiple SMR projects are currently under development (about 50 designs and concepts) and have varying technology readiness levels. Their costs and delivery times need to be adequately estimated, analyzed and optimized. Specific business models have to be developed to address markets’ needs and expectations. The market itself should be large enough to sustain demand for components and industrial support services. The economic impact of SMR development and deployment has to be quantified and communicated to gain societal support.
Catherine Morehouse
