Techno-Economic Viability and Challenges of Small Modular Reactors: A Comparative Cost Analysis

• In Event: Innovating Technology, Communication, and Governance – The Case of SMR

Abstract

This study investigates the techno-economic feasibility of small modular reactors (SMRs) as an alternative to conventional large-scale nuclear power. Focusing on four major SMR designs currently under development in the United States—BWRX-300 (boiling water reactor), NuScale Power Module (pressurized water reactor), Xe-100 (high-temperature gas-cooled reactor), and Natrium (sodium-cooled fast reactor)—the research conducts a comparative levelized cost of electricity (LCOE) analysis. It evaluates key cost components, including overnight capital costs, fuel cycle costs, operation and maintenance (O&M) expenses, and projected nuclear waste outputs.

The study also incorporates a literature review to assess cost escalation patterns and fuel cycle capacity, highlighting the heightened uncertainty surrounding non-light water reactor technologies. It further examines broader policy and market conditions that may shape deployment prospects, particularly in the United States. By integrating quantitative cost analysis with historical insights, the research critically evaluates whether SMRs can offer a scalable and sustainable solution for decarbonization, or whether structural economic and political barriers will constrain their role in the global energy transition compared to large reactors.

Author

• Philseo Kim, Pohang University of Science and Technology
  Presenting Author