ADVANCED REACTORS | TAILWIND FOR REVIVAL
An advanced reactor game plan
Benefits await for first movers on advanced reactor deployment at scale but a number of barriers much be overcome before that can become reality. A new report details both the scale of the challenge and the rewards
ADVANCED NUCLEAR TECHNOLOGIES COULD FORM an integral part of the solution to reconcile the need for clean energy with energy security; this is the conclusion of a new report from Charles River Associates (CRA). The report breaks down the role of advanced nuclear technology to meet decarbonisation goals and notes that various regions and governments are including the technology in core policy objectives. The report also offers an overview of the trends and challenges that face the nuclear supply chain, spanning from extraction and processing to end-use applications and waste management. CRA’s report, titled: ‘Advanced Nuclear Reactor
Technologies: A Tailwind for Nuclear Energy Revival’ further says: “The renewed prominence of nuclear in the energy transition reflects the growing emphasis on energy security and decarbonization among policy makers. Alongside the repowering of existing nuclear plants, advanced nuclear technologies are now also under the spotlight as they hold the promise of shorter construction timelines, lower overhead costs, and cross-industry applications.”
Addressing investment challenges The report highlights that given some of the biggest challenges to infrastructure investing are inflation and regulation, including permitting and licensing, taxation, and safety standards, investors require certainty. Meera Kotak, Associate Principal at CRA and co-author
of the report, points to the recent collapse of Nuscale’s Idaho National Laboratory scheme as an example of the challenges advanced reactors face when considering deployment: “The Nuscale news really does show how difficult it can be for developers to line up all the different components in the macro context of high inflation and high interest rates. If you are a developer that started back when the rates weren’t what they are today, you are going to be hit by them even if you’re grounded in the best technological positions.” Kotak points to some relatively simple solutions though: “In the first instance, the industry needs government support to drive projects forward in the first of a kind development. The industry would also benefit from a coherent regulatory framework that crosses borders.”
Above: Holtec’s design is also aimed at hard-to-reach process industries Source: Holtec 34 | December 2023 |
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