Small Modular Reactors Explained - Nuclear Power's Future?
Nuclear power plants are a source of low-carbon energy. It is nonetheless a devisive topic, true, but an interesting alternative to building large conventional nuclear power plants is to build Small Nuclear Reactors (SMR). This interesting video on the topic will teach you everything there is to know about these types of nuclear reactors, including:
LCOE of conventional nuclear power rose from $117/MWh in 2015 to $155 by 2019. Solar and wind reached $40 and $1 per MWh respectively.
Costs of renewables continue to fall incrementally, while conventional nuclear - despite over half a century of industrial experience - continues to see costs rising.
In order to decrease costs, nuclear industry is looking to develop Small Nuclear Reactors (SMR) with a very small footprint that are safer and easier to manufacter, perhaps even in a factory and then shipped to site. Some could be small enough to fit in 20ft trucks.
The world nuclear association defines SMRs as nuclear reactors which are 300 MW equivalent or less, designed with modularity in mind. Very Small Nuclear Reactors are below 15MW.
Passive safety systems increase the level of reliability of an SMR compared to conventional nuclear power, although the workings remain the same.
An additional benefit of SMRs is that they do not require refueling every 18 to 24 months, in which the plant is shut down for about a month. A 5MW reactor could theoretically last up to 100 years.
Estimated capital costs are $4200/kW, and about $80/MWh, still about twice as high as renewables.
Many different designs are on the table, including small molten salt reactors, even a floating nuclear power barges that employ two 35MW SMRs.
Licensing and certification still remain a huge issue. In addition, there are concerns about the passive safety mechanisms. Plus the fact that it still remains almost twice as high in Levelised Cost of Energy with its biggest competitor (natural gas) having a price of about $45/MWh. And the kicker; though these reactors are small, they still generate the same kind of highly nuclear radioactive waste. Just less.