Publication: The Future of the Nuclear Industry Reconsidered : Risks, Uncertainties, and Continued Potential
Date
2012-06
ISSN
Published
2012-06
Author(s)
Kessides, Ioannis N.
Abstract
Skeptics point out, with some
justification, that the nuclear industry's prospects
were dimmed by escalating costs long before Fukushima. If
history is any guide, one direct consequence of the calamity
in Japan will be more stringent safety requirements and
regulatory delays that will inevitably increase the costs of
nuclear power and further undermine its economic viability.
For nuclear power to play a major role in meeting the future
global energy needs and mitigating the threat of climate
change, the hazards of another Fukushima and the
construction delays and costs escalation that have plagued
the industry will have to be substantially reduced. One
promising direction for nuclear development might be to
downsize reactors from the gigawatt scale to less-complex
smaller units that are more affordable. Small modular
reactors (SMRs) are scalable nuclear power plant designs
that promise to reduce investment risks through incremental
capacity expansion; become more standardized and reduce
costs through accelerated learning effects; and address
concerns about catastrophic events, since they contain
substantially smaller radioactive inventory. Given their
lower capital requirements and small size, which makes them
suitable for small electric grids, SMRs can more effectively
address the energy needs of small developing countries.
Link to Data Set
Citation
“Kessides, Ioannis N.. 2012. The Future of the Nuclear Industry Reconsidered : Risks, Uncertainties, and Continued Potential. Policy Research Working Paper;No. 6112. © World Bank, Washington, DC. http://hdl.handle.net/10986/19935 License: CC BY 3.0 IGO.”
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