Large potential for small modular reactors
Earlier this week we shared an article about how a suitable sharing of risks between the different stakeholders was key for a competitive energy. This week article also focuses on competitiveness but through another angle: SMR.
Small modular nuclear reactors, or SMRs, are a hot topic these days, with engineering companies working on designs and a number of countries. It is also identified as one potential solution to tackle issues encountered by large engineering projects, on project delivery inefficiencies; in terms of time and cost.
As small modular reactors (SMRs) are scalable nuclear power plant designs, it receives an increasing deal of attention from the industry and policy makers. According to the Organization for Economic Cooperation and Development (OECD), “SMRs enjoy significant economic benefits due to shorter construction duration, accelerated learning effects and co-siting economies, temporal and sizing flexibility of deployment, and design simplification”.
In a factsheet on SMR produced by the World Nuclear Association (WNA), it uncovers some of the potentials of these modular reactors. Firstly it discusses the economic advantages. Because SMRs could be mass-produced, the level of construction quality and efficiency could be boosted. This increases construction efficiency, which could mean easier financing for projects, while economies achieved through serial production could reduce costs further.
What are the other potentials of SMR? Find out more via the factsheet by the World Nuclear Association here.