Nuclear Power Industry heading toward smaller, cheaper, faster build designs: Clear Path

During a meeting in June with the Nuclear Regulatory Commission, Rich Powell-executive director of Clear Path- suggested that advanced small modular reactors (SMR)  could be the key in overcoming the industry’s biggest issues. The smaller size of these reactors greatly increases the cost effectiveness of nuclear energy in comparison to an entire power plant. The largest power plant in the United States, Palo Verde Generating Station in Arizona, produces 3.3GW but costed $5.9 billion in 1986. The only power plant currently under construction is approaching the construction cost of $28 billion.

Additionally, the US Department of Energy states that an SMR is actually safer than a power plant and it has the ability to perform other industrial needs such as processing heat and desalination. These advantages explain why the Canadian Nuclear Association values the  global SMR market at about $115 billion between 2025 and 2045. The first SMR is scheduled to be operational by the mid 2020’s and congress has recently introduced a bill that would require at least two demonstrations by December 21, 2025.

To read further, visit the full perspective in Utility Dive: “Nuclear power industry heading towards smaller, cheaper, faster build designs: Clear Path,” by HJ Mai.