Written by Chad Boyer, Principal Technical Leader - Project Development and Execution
New nuclear plant projects are complex undertakings that can take around a decade and billions of dollars to complete. Navigating the process efficiently is essential for owner-operators to keep risks, timelines, and costs as low as possible and ensure their long-term success.
And although new technologies and techniques have become available in the last few decades that could significantly lower costs and reduce timelines for new projects, most have not been demonstrated yet in the nuclear industry.
EPRI addresses these challenges by supporting owner-operators with best practices and strategies for success, compiled over decades of industry experience. We keep the industry up-to-date by investigating, demonstrating, and paving the way for new technologies and techniques that will make nuclear projects more efficient.
We help bridge the gap between different actors in nuclear plant construction, unifying objectives and outlining how regulators, technology developers, engineering, procurement, and construction (EPC) firms, and owner-operators can work together most effectively.
EPRI’s project development research guides owner-operators through every phase of their nuclear project, from planning and development to execution.
Strategic Planning and Analysis
Nuclear energy is a cornerstone of clean energy worldwide that will play a major role in reaching a net-zero future. Maintaining the existing fleet and deploying new nuclear power facilities will help nuclear energy maximize its impact.
EPRI’s techno-economic assessments and market analyses determine the best opportunities and remaining challenges for nuclear deployment.
There has recently been significant growing interest in advanced reactor (AR) technologies including small modular light-water reactors (SMRs), non-light-water moderated reactors, and microreactors.
ARs are expected to be deployed at a significant scale within the next decade, and EPRI is spearheading research efforts to ensure their success. We highlight the advantages of ARs along with remaining research needs to help pave the way to their deployment and commercialization.
Reducing Costs
Financing Costs
One EPRI report analyzed the extent to which decreasing SMR construction timelines could lower financing costs compared to conventional light-water reactors, where financing alone can account for up to 30% of the total cost.
New Economic Opportunities
Energy markets have changed significantly in the past three decades, particularly with deregulation of electricity markets and increasing penetration of intermittent renewables such as wind and solar power. These changes have made it more difficult for conventional large-scale nuclear plants to compete. EPRI analyzed the roles that ARs could play in future energy markets. We envisioned several different scenarios that could help ARs compete, such as carbon taxes, credits, or sales of non-electricity products.
Historic Commercialization Insights
EPRI reviewed historic commercialization pathways to gain insights that can be applied to ARs. We identify the contexts, trends, and attributes of programs and partnership arrangements that will support commercial-scale demonstration and eventual adoption of ARs.
Remaining Needs & Solutions for ARs
EPRI coordinated industry actors to determine the most pressing research needs that will lay the groundwork for ARs to succeed. We prioritize research objectives and establish ownership for different tasks in our Advanced Reactor Roadmap.
Detailed Project Development
EPRI supports the industry with guides that walk through the nuances of every step in a nuclear project. These documents provide frameworks to help prospective owner-operators select the best technologies and sites to achieve their project and business goals. We also outline what each actor requires from project collaborators to ensure on-time and on-budget delivery.
Technology Selection
One of the first steps for an owner-operator committing to a new nuclear project is to outline their goals and select the technology that presents the best chance of achieving them.
With ARs coming to market in the near future, owner-operators now have a wider variety of designs to choose from than ever before. These technologies are at varying stages of development and demonstration, which can make comparison difficult.
Our Owner-Operator Reactor Technology Assessment Guide provides a framework to weigh the risks and benefits of different technologies so that owner-operators can make decisions in the face of uncertainty. The assessment also provides a rational foundation to justify decisions to shareholders, regulators, and management.
The Technology Assessment Guide is freely available in 3002025344.
Site Selection
In addition to selecting a technology, owner-operators also need to find the best site for their project.
ARs present radically different opportunities for plant siting that could help ensure their economic competitiveness and success, such as siting in more densely populated regions or at brownfield locations with existing infrastructure. Prospective owner-operators will need guidance to help take advantage of ARs’ characteristics for the first time.
Siting Guide
Our Site Selection and Evaluation Criteria for New Nuclear Energy Generation Facilities (Siting Guide) has helped owner-operators through the site selection process since the 1990s. It was updated in 2015 to include selection criteria for SMRs and in 2022 to include ARs.
Like the Technology Assessment Guide, our Siting Guide provides a decision-making framework that leads owner-operators to converge on the best site for their project, along with viable alternatives. This assessment can also help owner-operators justify their decision to shareholders, regulators, and management.
The 2022 version of the Siting Guide is freely available in 3002005435.
Owner-Operator and Utility Requirements
In 1990, EPRI published the first version of the Advanced Light Water Reactor Utility Requirements Document (URD). The document brought together advisors from the nuclear industry to determine the most important requirements needed to build new nuclear plants. The document was revised 13 times since then and played a major role in shepherding the commercialization of advanced light water reactors.
The URD was created by a partnership of EPRI, the U.S. Department of Energy, and the nuclear industry. Hundreds of millions of dollars have been invested in the creation of the document, which is more than 3,500 pages and contains over 40,000 requirements aligning the needs of owner-operators, EPC firms, reactor developers, and regulators. Notably, the 13th revision included the addition of light water SMRs.
For any owner-operator considering a new light water-moderated nuclear plant, the URD is an indispensable resource. It is available to EPRI members in 3002003129.
Owner-Operator Requirements Guide for Advanced Reactors
While the URD is a basis document for new advanced light-water reactor projects, EPRI created a similar guide to help pave the way for commercialization of ARs.
The Owner-Operator Requirements Guide (ORG) for Advanced Reactors enumerates the requirements, objectives, and priorities for all stakeholders in advanced reactor projects. This document is designed to bridge the gaps between technology developers and owner-operators. Aligning their needs is crucial to setting accurate expectations for AR technologies and accelerating their early adoption.
The ORG is freely available in 3002015751.
Collaborate with EPRI on your Nuclear Plant Project
We encourage all current and prospective owner-operators of nuclear plants to become EPRI members. This grants you access to our entire research library, helping your plant succeed.
To help navigate the different resources available to members and how you can make best use of your membership, we provide a guide to EPRI resources in 3002025692.
In addition to consulting our research, members may find even greater benefit by getting in contact with EPRI for coordinated solutions and strategies for specific projects. You can get in touch with us at ant@epri.com.