To meet net zero obligations and bolster their energy security, stakeholders around the globe are re-evaluating the composition of their energy mixes, with interest in nuclear energy seeing a revival after two decades of stagnation. Small modular reactors (SMRs), which shrink the size of nuclear power plants and move as much of their construction as possible onto assembly lines, have the potential to solve the problems that led to this downturn in the first place.
IDTechEx's new report, "Nuclear Small Modular Reactors (SMRs) 2023-2043
" explores how SMRs could cut the cost of nuclear energy whilst enhancing safety and application flexibility. Whilst renewable energy sources can be extremely low-cost, they are frequently intermittent if not paired with expensive energy storage. SMRs aim to compete here by offering baseload and demand-following grid capacity at lower levelized costs per MWh, thanks to cutting capital expense using learning rates associated with factory production, potential supply chain efficiencies and reductions in site variability. SMRs are already operating in Russia and China, with other countries hoping to follow suit in the near future.
IDTechEx's report includes 20-year forecasts for the emergence of SMRs broken down by region and technology, informed by quantitative benchmarking from data from 83 SMR projects ongoing globally. This webinar delivers insights from the report to answer the following questions:
- How can SMRs open new use-cases for nuclear energy, decarbonizing problem industries in the process?
- Where in the world are SMRs developing today and where would they be expected to see greatest success?
- Are evolutionary vs. revolutionary approaches to reactor design more likely to see success in the global SMR fleet?
- What are the major roadblocks to deployment of SMRs and how could these be overcome?
- What players are working on SMRs and who is closest to delivering outside of Russia and China?