Obsidian/.archive/Literature Notes/mignaccaEconomicsFinanceSmall2020.md

authors	citekey	alias	publish_date	journal	volume	pages	last_import
Mignacca, B. Locatelli, G.	mignaccaEconomicsFinanceSmall2020	mignaccaEconomicsFinanceSmall2020	2020-02-01	Renewable and Sustainable Energy Reviews	118	109519	2025-07-30

Economics and finance of Small Modular Reactors: A systematic review and research agenda

Indexing Information

Published: 2020-02

DOI 10.1016/j.rser.2019.109519 #Economics, #Finance, #Modularisation, #Modularity, #Small-modular-reactor, #SMR

#InFirstPass

[!Abstract] The interest toward Small Modular nuclear Reactors (SMRs) is growing, and the economic competitiveness of SMRs versus large reactors is a key topic. Leveraging a systematic literature review, this paper firstly provides an overview of “what we know” and “what we do not know” about the economics and finance of SMRs. Secondly, the paper develops a research agenda. Several documents discuss the economics of SMRs, highlighting how the size is not the only factor to consider in the comparison; remarkably, other factors (co-siting economies, modularisation, modularity, construction time, etc.) are relevant. The vast majority of the literature focuses on economic and financial performance indicators (e.g. Levelized Cost of Electricity, Net Present Value, and Internal Rate of Return) and SMR capital cost. Remarkably, very few documents deal with operating and decommissioning costs or take a programme (and its financing) rather than a “single project/plant/site” perspective. Furthermore, there is a gap in knowledge about the cost-benefit analysis of the “modular construction” and SMR decommissioning.>[!seealso] Related Papers

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!Zettelkasten/Literature Notes/Notes on Papers/Economics and finance of Small Modular Reactors- A systematic review and research agenda-notes.md

Highlights From Zotero

[!tip] Brilliant Remarkably, very few documents deal with operating and decommissioning costs or take a programme (and its financing) rather than a “single project/plant/site” perspective. Furthermore, there is a gap in knowledge about the cost-benefit analysis of the “modular construction” and SMR decommissioning. 2025-07-16 12:27 pm

[!highlight] Highlight he International Atomic Energy Agency [1] defines Small Modular Reactors (SMRs) as “newer generation [nuclear] reactors designed to generate electric power up to 300 MW, whose components and systems can be shop fabricated and then transported as modules to the sites for installation as demand arises” (Page 1). 2025-07-16 12:27 pm

[!highlight] Highlight Economics and finance are two sides of the same coin, and the appraisal of a certain technology needs to consider both. Consequently, both economic and financial studies are reviewed in this paper. 2025-07-16 12:29 pm

[!highlight] Highlight SMR fuel cost is a relatively small percentage of the total cost [19, 25], and given the same technology, it is not differentiable between large and small reactors. Therefore, studies about the fuel cost are excluded from the analysis. 2025-07-16 12:31 pm

[!tip] Brilliant The distribution of the final retrieved documents is: - SMR Economics and finance: 46 documents; - SMR Construction: 14 documents; - SMR O&M: 3 documents; - SMR Decommissioning: 2 documents. 2025-07-16 12:33 pm

Wow! There's barely any O&M Papers

[!highlight] Highlight 3.1.1.2. Operation and maintenance costs. Operation and maintenance (O&M) costs are the costs needed for the operation and maintenance of an NPP [37]. O&M costs include “all non-fuel costs, such as costs of plant staffing, consumable operating materials (worn parts) and equipment, repair and interim replacements, purchased services, and nuclear insurance. They also include taxes and fees, decommissioning allowances, and miscellaneous costs” [10] (Page 33). 2025-07-16 12:32 pm

[!tip] Brilliant Furthermore, cost saving in O&M costs can be achieved through the shared control of multi-module reactors determining a reduction of the staffing cost [33]. However, [31] points out an expected SMR staff cost per MWe 40% higher with respect to LRs. 2025-07-16 12:35 pm

[!done] Important Modularisation has several implications: working in a better-controlled environment, standardisation and design simplification, reduction of the construction time, logistical challenges. Modularity allows having a favourable cash flow profile, taking advantage of the co-siting economies, cogeneration for the load following of NPPs, a higher and faster industrial learning, and better adaptability to market conditions. Furthermore, the interest in SMRs is growing because of the different applications: electrical, heat, hydrogen production, and seawater desalination. 2025-07-16 12:34 pm

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