1、The true power of small modular reactors on the road to a sustainable energy futureUnveiling key opportunities and challengesMarch 20242ContentsForeword 3Introduction 51 From promises to real value proposition 82 Paths towards SMR competitiveness 203 A major deployment is expected from the 2030s if

2、certain conditions are met 28Conclusion 41Contributors 423The true power of small modular reactors on the road to a sustainable energy future|March 2024As we navigate to a sustainable energy future,small modular reactors(SMRs)emerge as another potential flexible and reliable low-carbon solution.Ther

3、e has been a strong momentum in SMRs in recent years,with several designs and projects developed globally.Some advanced-stage examples are attracting the attention of the broader industry and investor community which are looking at demonstrators and first-of-a-kind to prove SMR technical feasibility

4、,economic viability and business potential.With the support of favorable policies and relevant infrastructure,the first demonstrators are expected to be commissioned by 2030 at a US$15k-US$20k/kWe overnight CAPEX.The cost is expected to decline as the industry moves from first of a kind(US$8k-US$13k

5、/kWe)to nth of a kind(US$5k-US$7k/kWe).Modularization,co-siting,learning and standardization are expected to be the key drivers to optimize SMR costs in a more efficient and tangible way than for large reactors thanks to series effect.We anticipate the first demonstrators to be commissioned around 2

6、030,with a real acceleration in deployment starting in the 2040s with the emergence of Gen.IV,which can respond to wider applications.Under realistic and accelerated scenarios,we predict 400-700 SMRs(150MWe unit)to be deployed by 2050(c.60-100 GWe).In 2050,we predict that c.50%of SMRs will be deploy