The cost of nuclear

29 snips

Nov 16, 2023

Why nuclear construction costs vary from country to country, with the US having high costs of over $6,000 per kilowatt and South Korea having low costs of around $2,200 per kilowatt. The podcast discusses the factors that contribute to these costs including modularity, small reactors, and passive safety features. It also delves into the need for regulatory changes and the challenges faced by the nuclear industry. Despite the challenges, there is optimism for the future of nuclear energy.

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Introduction

00:00 • 2min

The Cost and Complexity of Nuclear Fission

02:20 • 3min

The Cost of Nuclear Power and Global Development

05:40 • 18min

The Potential of Multiple Companies in the Nuclear Industry and Challenges Faced

23:33 • 6min

The Cost of Nuclear Energy: Challenges and Outlook

29:12 • 14min

Benefits of Smaller Nuclear Projects and Changing Perceptions

43:01 • 4min

Nuclear construction costs in the U.S. are some of the highest in the world. Recent estimates put it at more than $6,000 per kilowatt, as measured by overnight capital cost. But high costs are a problem for new small modular reactors (SMRs) too, killing what was going to be the country’s first small modular reactor before it got built.

On the other hand, South Korea has some of the lowest costs in the world. Estimated overnight capital costs for reactors in South Korea are closer to $2,200 per kilowatt. And then there are countries like China, France, and the United Arab Emirates that fall between those extremes.

So why the wide range in costs?

In this episode, Shayle talks to Dr. Jessica Lovering, co-founder and executive director at the Good Energy Collective, a non-profit that researches and promotes policies that support nuclear power. A former director of energy at the Breakthrough Institute, she also authored a comprehensive study of nuclear construction costs in 2016.

Shayle and Jessica talk about things like:

What goes into the cost of construction and South Korea’s secret sauce for low-cost nuclear reactors
Why Jessica thinks we should manufacture and regulate reactors like large aircraft
Driving down costs with modularity, small reactors, passive safety features, and more construction
Why changing regulations might be necessary, but not a silver bullet
Why the pro- and anti-nuclear camps talk past each other — and why Jessica says she’s somewhere in between

Recommended Resources:

Energy Policy: Historical construction costs of global nuclear power reactors
National Academy of Engineering: Chasing Cheap Nuclear: Economic Trade-Offs for Small Modular Reactors
Joule: Evaluating the Role of Unit Size in Learning-by-Doing of Energy Technologies
Science: Granular technologies to accelerate decarbonization
Canary: Future of small reactors at stake as NuScale deal flops

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