Advanced Nuclear Technology Cost Reduction Strategies and Systematic Economic Review - 2021

This report was produced by the GIF Economic Modelling Working Group (EMWG) in 2021. 

Advanced Nuclear Technology Cost Reduction Strategies and Systematic Economic Review describes a process to produce a methodological framework for evaluating nuclear cost reduction strategies. Actions, the timeline, anticipated products and outcomes are all outlined in the present report. Key areas for nuclear cost reduction strategies and technologies are categorized under design, construction/production and project management. Application of the framework is illustrated on reactor designs that are based on cost reduction through “functional confinement,” followed by a presentation of a more rigorous application of the methodology in Appendix A.
 

Purpose

The report refines advanced nuclear power plant cost reduction strategies and develops a systematic economic-review process — applicable to Generation III+ (Gen-III+), small modular reactor (SMR) designs, microreactors, and Generation IV (Gen-IV) concepts — to: 1) identify opportunities and conditions for cost reduction on the reactor design, emphasizing the costs of the balance of the plant; 2) provide a methodology to review progress in designs towards reducing costs; and 3) inform and provide training on cost reduction strategies for reactor designers and other stakeholders.

Methodology

Alternative cost reduction strategies are assessed based on past and current lessons learned, along with an assessment of the readiness levels of technologies and the potential for cost reductions. The Generation IV International Forum (GIF) Economic Modelling Work Group (EMWG) is developing a systematic economic review process called Advanced Nuclear Technology Cost Reduction Strategies and Systematic Economic Review (ANTSER), consistent with the GIF EMWG Cost Estimating Guidelines.1 The results and the methodology being developed can inform the design and selection of future cost reduction demonstration projects. Information and updates on cost reduction strategies and the study outcomes will be posted in an online repository.

Anticipated outcomes

The benefits that these studies are expected to net to GIF:
• GIF reactor developers are made aware of cost reduction opportunities for nuclear designs, construction, O&M and D&D through training and reference to best economic practices for advanced reactors;
• Specific research activities are identified to reduce advanced nuclear reactor costs;
• Trends in nuclear industry supply chains for standardized cost reduction processes are influenced;
• International practices that reduce nuclear costs are shared within the nuclear community.