Modular reactors can deliver power with lower costs and construction risks than large, conventional plants
email rounding up the latestBig has been beautiful in the nuclear industry. For decades, the size of nuclear reactors has steadily increased, with each new plant able to generate ever greater amounts of electricity.
And nuclear power is now firmly back on the agenda, amid new fears for energy security following Russia’s invasion of Ukraine and the ever-greater need to reduce global carbon emissions. Beyond the provision of baseload electricity, SMRs can be used to produce green hydrogen or a combination of heat and power in remote locations. They can also be used to power large industrial sites or data centres.
Government support for SMRs — most of which will not be commercial until the mid-2030s — has increased substantially in the past two years, running well into the billions of US dollars. That is 10 times more support than was available a few years ago, according toSome 70 designs are at different stages of development globally, the IEA reports. However, analysts warn that private capital will be essential, too, and regulatory certainty will be required to attract it.
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