{"id":60765,"date":"2022-07-20T12:01:00","date_gmt":"2022-07-20T11:01:00","guid":{"rendered":"https:\/\/www.lse.ac.uk\/granthaminstitute\/?post_type=news&#038;p=60765"},"modified":"2024-08-16T10:22:37","modified_gmt":"2024-08-16T09:22:37","slug":"the-role-of-innovation-in-the-uks-nuclear-renaissance","status":"publish","type":"news","link":"https:\/\/www.lse.ac.uk\/granthaminstitute\/news\/the-role-of-innovation-in-the-uks-nuclear-renaissance\/","title":{"rendered":"The role of innovation in the UK\u2019s nuclear \u2018renaissance\u2019"},"content":{"rendered":"<!DOCTYPE html PUBLIC \"-\/\/W3C\/\/DTD HTML 4.0 Transitional\/\/EN\" \"http:\/\/www.w3.org\/TR\/REC-html40\/loose.dtd\">\n<?xml encoding=\"UTF-8\"><p class=\"is-style-large\">Advanced nuclear technologies, modular manufacturing methods and new approaches to project finance could usher in a more cost-effective era for the UK&rsquo;s nuclear industry, writes Esin Serin.<\/p>\n\n\n\n<p>As part of its approach to dealing with energy security concerns, the UK Government has turned to nuclear power. Near-term targets look at expanding existing forms of nuclear power but the UK also has a strong commitment to developing the next generation of civil nuclear technologies. Such innovations can diversify what nuclear energy is used for and may lower deployment costs, creating potential for nuclear to play a bigger part in the transition to net zero.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\">Nuclear&rsquo;s place in the net-zero transition<\/h2>\n\n\n\n<p>The Climate Change Committee&rsquo;s &lsquo;balanced pathway&rsquo; to net zero for the UK assumes <a class=\"link link--external\" rel=\"noopener\" href=\"https:\/\/www.theccc.org.uk\/wp-content\/uploads\/2020\/12\/Sector-summary-Electricity-generation.pdf\" aria-describedby=\"link-description-new-window\" target=\"_blank\" title=\"\">10 gigawatts (GW) of nuclear capacity&#65279;<svg xmlns=\"http:\/\/www.w3.org\/2000\/svg\" viewbox=\"0 0 16 16\" role=\"img\" aria-hidden=\"true\"><path d=\"M14.42 1.04L3.2.7a.8.8 0 00-.8.76v.1a.8.8 0 00.76.7l9.39.3L.93 14.16c-.3.3-.3.8 0 1.1l.09.08c.3.23.73.2 1.01-.07L13.65 3.65l.29 9.4a.8.8 0 00.8.76.79.79 0 00.77-.8L15.17 1.8a.82.82 0 00-.75-.76z\" fill=\"#2e3152\"><\/path><\/svg><\/a> by 2035, yet almost all of the UK&rsquo;s existing nuclear power plants are due to retire by the end of 2030. The Government in its <a class=\"link link--external\" rel=\"noopener\" href=\"https:\/\/www.gov.uk\/government\/publications\/british-energy-security-strategy\" aria-describedby=\"link-description-new-window\" target=\"_blank\" title=\"\">energy security strategy&#65279;<svg xmlns=\"http:\/\/www.w3.org\/2000\/svg\" viewbox=\"0 0 16 16\" role=\"img\" aria-hidden=\"true\"><path d=\"M14.42 1.04L3.2.7a.8.8 0 00-.8.76v.1a.8.8 0 00.76.7l9.39.3L.93 14.16c-.3.3-.3.8 0 1.1l.09.08c.3.23.73.2 1.01-.07L13.65 3.65l.29 9.4a.8.8 0 00.8.76.79.79 0 00.77-.8L15.17 1.8a.82.82 0 00-.75-.76z\" fill=\"#2e3152\"><\/path><\/svg><\/a> has already announced ambitions that go beyond replacing retiring plants; these include progressing up to eight new nuclear reactors by 2030 and achieving up to 24 GW by 2050.<\/p>\n\n\n\n<p>In addition to helping to achieve net zero goals, such nuclear deployment underpinned by a competitive and innovative supply chain could offer significant growth opportunities for the UK economy. Our <a href=\"https:\/\/www.lse.ac.uk\/granthaminstitute\/publication\/growing-clean-identifying-and-investing-in-sustainable-growth-opportunities\/\" target=\"_blank\" rel=\"noreferrer noopener\">research<\/a> has shown that the UK is in the top ten countries globally with a specialism in nuclear innovation. The strong political support for, and <a class=\"link link--external\" rel=\"noopener\" href=\"https:\/\/www.gov.uk\/government\/statistics\/beis-public-attitudes-tracker-winter-2021\" aria-describedby=\"link-description-new-window\" target=\"_blank\" title=\"\">minimal public opposition&#65279;<svg xmlns=\"http:\/\/www.w3.org\/2000\/svg\" viewbox=\"0 0 16 16\" role=\"img\" aria-hidden=\"true\"><path d=\"M14.42 1.04L3.2.7a.8.8 0 00-.8.76v.1a.8.8 0 00.76.7l9.39.3L.93 14.16c-.3.3-.3.8 0 1.1l.09.08c.3.23.73.2 1.01-.07L13.65 3.65l.29 9.4a.8.8 0 00.8.76.79.79 0 00.77-.8L15.17 1.8a.82.82 0 00-.75-.76z\" fill=\"#2e3152\"><\/path><\/svg><\/a> to, civil nuclear in the UK could also provide fertile ground for developing new nuclear technologies.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\">The promise of nuclear innovation<\/h2>\n\n\n\n<p>Most conventional nuclear plants operate on a gigawatt scale, have a footprint of a few hundred football pitches and are designed to provide electricity to the grid. Advanced nuclear technologies include Small Modular Reactors (SMRs) and Advanced Modular Reactors (AMRs), which are smaller <a class=\"link link--external\" rel=\"noopener\" href=\"https:\/\/www.gov.uk\/government\/publications\/advanced-nuclear-technologies\/advanced-nuclear-technologies\" aria-describedby=\"link-description-new-window\" target=\"_blank\" title=\"\">than conventional reactors&#65279;<svg xmlns=\"http:\/\/www.w3.org\/2000\/svg\" viewbox=\"0 0 16 16\" role=\"img\" aria-hidden=\"true\"><path d=\"M14.42 1.04L3.2.7a.8.8 0 00-.8.76v.1a.8.8 0 00.76.7l9.39.3L.93 14.16c-.3.3-.3.8 0 1.1l.09.08c.3.23.73.2 1.01-.07L13.65 3.65l.29 9.4a.8.8 0 00.8.76.79.79 0 00.77-.8L15.17 1.8a.82.82 0 00-.75-.76z\" fill=\"#2e3152\"><\/path><\/svg><\/a> in terms of both output and physical footprint. In most cases they are designed to be constructed in a modular way, meaning many of the elements can be fabricated in a factory environment for assembly onsite.<\/p>\n\n\n\n<p>SMRs generate <a class=\"link link--external\" rel=\"noopener\" href=\"https:\/\/www.iaea.org\/newscenter\/news\/what-are-small-modular-reactors-smrs\" aria-describedby=\"link-description-new-window\" target=\"_blank\" title=\"\">up to 300 megawatts of electricity (MWe)&#65279;<svg xmlns=\"http:\/\/www.w3.org\/2000\/svg\" viewbox=\"0 0 16 16\" role=\"img\" aria-hidden=\"true\"><path d=\"M14.42 1.04L3.2.7a.8.8 0 00-.8.76v.1a.8.8 0 00.76.7l9.39.3L.93 14.16c-.3.3-.3.8 0 1.1l.09.08c.3.23.73.2 1.01-.07L13.65 3.65l.29 9.4a.8.8 0 00.8.76.79.79 0 00.77-.8L15.17 1.8a.82.82 0 00-.75-.76z\" fill=\"#2e3152\"><\/path><\/svg><\/a>, with a footprint of just a few football pitches, and <a class=\"link link--external\" rel=\"noopener\" href=\"https:\/\/www.world-nuclear.org\/information-library\/nuclear-fuel-cycle\/nuclear-power-reactors\/small-nuclear-power-reactors.aspx\" aria-describedby=\"link-description-new-window\" target=\"_blank\" title=\"\">many designs to date&#65279;<svg xmlns=\"http:\/\/www.w3.org\/2000\/svg\" viewbox=\"0 0 16 16\" role=\"img\" aria-hidden=\"true\"><path d=\"M14.42 1.04L3.2.7a.8.8 0 00-.8.76v.1a.8.8 0 00.76.7l9.39.3L.93 14.16c-.3.3-.3.8 0 1.1l.09.08c.3.23.73.2 1.01-.07L13.65 3.65l.29 9.4a.8.8 0 00.8.76.79.79 0 00.77-.8L15.17 1.8a.82.82 0 00-.75-.76z\" fill=\"#2e3152\"><\/path><\/svg><\/a> use the same <a class=\"link link--external\" rel=\"noopener\" href=\"https:\/\/www.iaea.org\/topics\/water-cooled-reactors\" aria-describedby=\"link-description-new-window\" target=\"_blank\" title=\"\">water-cooled reactor&#65279;<svg xmlns=\"http:\/\/www.w3.org\/2000\/svg\" viewbox=\"0 0 16 16\" role=\"img\" aria-hidden=\"true\"><path d=\"M14.42 1.04L3.2.7a.8.8 0 00-.8.76v.1a.8.8 0 00.76.7l9.39.3L.93 14.16c-.3.3-.3.8 0 1.1l.09.08c.3.23.73.2 1.01-.07L13.65 3.65l.29 9.4a.8.8 0 00.8.76.79.79 0 00.77-.8L15.17 1.8a.82.82 0 00-.75-.76z\" fill=\"#2e3152\"><\/path><\/svg><\/a> technology of most nuclear power plants operating around the world today. They are also similarly designed to provide grid electricity. AMR concepts differ more substantially from conventional reactors with their use of novel coolants and\/or fuels, and they can be even smaller (one example discussed below has a 10 megawatt thermal [MWth] output, with an approximate footprint of a football pitch&rsquo;s penalty box). Their small size can make them suitable for off-grid applications close to the point of demand.<\/p>\n\n\n\n<p>With an <a class=\"link link--external\" rel=\"noopener\" href=\"https:\/\/assets.publishing.service.gov.uk\/government\/uploads\/system\/uploads\/attachment_data\/file\/945899\/201216_BEIS_EWP_Command_Paper_Accessible.pdf\" aria-describedby=\"link-description-new-window\" target=\"_blank\" title=\"\">Advanced Nuclear Fund&#65279;<svg xmlns=\"http:\/\/www.w3.org\/2000\/svg\" viewbox=\"0 0 16 16\" role=\"img\" aria-hidden=\"true\"><path d=\"M14.42 1.04L3.2.7a.8.8 0 00-.8.76v.1a.8.8 0 00.76.7l9.39.3L.93 14.16c-.3.3-.3.8 0 1.1l.09.08c.3.23.73.2 1.01-.07L13.65 3.65l.29 9.4a.8.8 0 00.8.76.79.79 0 00.77-.8L15.17 1.8a.82.82 0 00-.75-.76z\" fill=\"#2e3152\"><\/path><\/svg><\/a> of up to &pound;385 million, the UK is aiming to develop a domestic SMR design and to build an AMR demonstrator by the early 2030s. The UK is home to some leading innovator companies in this area, although there are SMRs and AMRs already at later development stages <a class=\"link link--external\" rel=\"noopener\" href=\"https:\/\/en.wikipedia.org\/wiki\/List_of_small_modular_reactor_designs\" aria-describedby=\"link-description-new-window\" target=\"_blank\" title=\"\">elsewhere in the world&#65279;<svg xmlns=\"http:\/\/www.w3.org\/2000\/svg\" viewbox=\"0 0 16 16\" role=\"img\" aria-hidden=\"true\"><path d=\"M14.42 1.04L3.2.7a.8.8 0 00-.8.76v.1a.8.8 0 00.76.7l9.39.3L.93 14.16c-.3.3-.3.8 0 1.1l.09.08c.3.23.73.2 1.01-.07L13.65 3.65l.29 9.4a.8.8 0 00.8.76.79.79 0 00.77-.8L15.17 1.8a.82.82 0 00-.75-.76z\" fill=\"#2e3152\"><\/path><\/svg><\/a>.<\/p>\n\n\n\n<p>For example, <a class=\"link link--external\" rel=\"noopener\" href=\"https:\/\/www.u-battery.com\/\" aria-describedby=\"link-description-new-window\" target=\"_blank\" title=\"\">U-Battery&#65279;<svg xmlns=\"http:\/\/www.w3.org\/2000\/svg\" viewbox=\"0 0 16 16\" role=\"img\" aria-hidden=\"true\"><path d=\"M14.42 1.04L3.2.7a.8.8 0 00-.8.76v.1a.8.8 0 00.76.7l9.39.3L.93 14.16c-.3.3-.3.8 0 1.1l.09.08c.3.23.73.2 1.01-.07L13.65 3.65l.29 9.4a.8.8 0 00.8.76.79.79 0 00.77-.8L15.17 1.8a.82.82 0 00-.75-.76z\" fill=\"#2e3152\"><\/path><\/svg><\/a> is an AMR developer in the UK working towards delivering a first-of-a-kind reactor by 2028. At an industry showcase of its 10 MWth reactor design (with the option of co-generative configuration to produce electricity as well as heat) in June 2022, there was one key message to take away: nuclear energy is not exclusively about electricity.<\/p>\n\n\n\n<p>U-Battery&rsquo;s module is a type of high temperature gas reactor (HTGR) &ndash; the reactor technology <a class=\"link link--external\" rel=\"noopener\" href=\"https:\/\/www.gov.uk\/government\/consultations\/potential-of-high-temperature-gas-reactors-to-support-the-amr-rd-demonstration-programme-call-for-evidence\" aria-describedby=\"link-description-new-window\" target=\"_blank\" title=\"\">confirmed as the preferred focus&#65279;<svg xmlns=\"http:\/\/www.w3.org\/2000\/svg\" viewbox=\"0 0 16 16\" role=\"img\" aria-hidden=\"true\"><path d=\"M14.42 1.04L3.2.7a.8.8 0 00-.8.76v.1a.8.8 0 00.76.7l9.39.3L.93 14.16c-.3.3-.3.8 0 1.1l.09.08c.3.23.73.2 1.01-.07L13.65 3.65l.29 9.4a.8.8 0 00.8.76.79.79 0 00.77-.8L15.17 1.8a.82.82 0 00-.75-.76z\" fill=\"#2e3152\"><\/path><\/svg><\/a> of the UK&rsquo;s AMR programme &ndash; which can be designed to yield <a class=\"link link--external\" rel=\"noopener\" href=\"https:\/\/www.oecd-nea.org\/jcms\/pl_20497\/high-temperature-gas-cooled-reactors\" aria-describedby=\"link-description-new-window\" target=\"_blank\" title=\"\">outlet temperatures&#65279;<svg xmlns=\"http:\/\/www.w3.org\/2000\/svg\" viewbox=\"0 0 16 16\" role=\"img\" aria-hidden=\"true\"><path d=\"M14.42 1.04L3.2.7a.8.8 0 00-.8.76v.1a.8.8 0 00.76.7l9.39.3L.93 14.16c-.3.3-.3.8 0 1.1l.09.08c.3.23.73.2 1.01-.07L13.65 3.65l.29 9.4a.8.8 0 00.8.76.79.79 0 00.77-.8L15.17 1.8a.82.82 0 00-.75-.76z\" fill=\"#2e3152\"><\/path><\/svg><\/a> in the order of 1,000&deg;C, much higher than those of conventional reactors. This feature means that nuclear can be used not only for electricity generation but for a range of other purposes relevant to the net zero transition, too. These include the direct provision of high-grade heat for heavy industry (e.g. glass, paper, chemicals) and the efficient production of low-carbon hydrogen for various end-uses spanning industry, transport and heat. Such capabilities of HTGRs could be especially relevant for <a class=\"link link--external\" rel=\"noopener\" href=\"https:\/\/www.ukri.org\/what-we-offer\/our-main-funds\/industrial-strategy-challenge-fund\/clean-growth\/industrial-decarbonisation-challenge\/\" aria-describedby=\"link-description-new-window\" target=\"_blank\" title=\"\">decarbonising the UK&rsquo;s industrial clusters&#65279;<svg xmlns=\"http:\/\/www.w3.org\/2000\/svg\" viewbox=\"0 0 16 16\" role=\"img\" aria-hidden=\"true\"><path d=\"M14.42 1.04L3.2.7a.8.8 0 00-.8.76v.1a.8.8 0 00.76.7l9.39.3L.93 14.16c-.3.3-.3.8 0 1.1l.09.08c.3.23.73.2 1.01-.07L13.65 3.65l.29 9.4a.8.8 0 00.8.76.79.79 0 00.77-.8L15.17 1.8a.82.82 0 00-.75-.76z\" fill=\"#2e3152\"><\/path><\/svg><\/a>.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\">Can innovation answer the cost question?<\/h2>\n\n\n\n<p>A common criticism of nuclear is on cost grounds, but this might be more about the way nuclear projects are brought about than an inherent aspect of nuclear technology. Certainly, wind and solar are now <a class=\"link link--external\" rel=\"noopener\" href=\"https:\/\/www.carbonbrief.org\/wind-and-solar-are-30-50-cheaper-than-thought-admits-uk-government\/\" aria-describedby=\"link-description-new-window\" target=\"_blank\" title=\"\">cheaper&#65279;<svg xmlns=\"http:\/\/www.w3.org\/2000\/svg\" viewbox=\"0 0 16 16\" role=\"img\" aria-hidden=\"true\"><path d=\"M14.42 1.04L3.2.7a.8.8 0 00-.8.76v.1a.8.8 0 00.76.7l9.39.3L.93 14.16c-.3.3-.3.8 0 1.1l.09.08c.3.23.73.2 1.01-.07L13.65 3.65l.29 9.4a.8.8 0 00.8.76.79.79 0 00.77-.8L15.17 1.8a.82.82 0 00-.75-.76z\" fill=\"#2e3152\"><\/path><\/svg><\/a> forms of generating electricity than nuclear in the UK. Government support for Hinkley Point C &ndash; the UK&rsquo;s only nuclear power plant currently being constructed &ndash; has been questioned for its <a class=\"link link--external\" rel=\"noopener\" href=\"https:\/\/www.nao.org.uk\/report\/hinkley-point-c\/\" aria-describedby=\"link-description-new-window\" target=\"_blank\" title=\"\">value for money&#65279;<svg xmlns=\"http:\/\/www.w3.org\/2000\/svg\" viewbox=\"0 0 16 16\" role=\"img\" aria-hidden=\"true\"><path d=\"M14.42 1.04L3.2.7a.8.8 0 00-.8.76v.1a.8.8 0 00.76.7l9.39.3L.93 14.16c-.3.3-.3.8 0 1.1l.09.08c.3.23.73.2 1.01-.07L13.65 3.65l.29 9.4a.8.8 0 00.8.76.79.79 0 00.77-.8L15.17 1.8a.82.82 0 00-.75-.76z\" fill=\"#2e3152\"><\/path><\/svg><\/a>.<\/p>\n\n\n\n<p>But <a class=\"link link--external\" rel=\"noopener\" href=\"https:\/\/www.carbonbrief.org\/new-nuclear-power-in-uk-would-be-the-worlds-most-costly-says-report\/\" aria-describedby=\"link-description-new-window\" target=\"_blank\" title=\"\">cheaper nuclear&#65279;<svg xmlns=\"http:\/\/www.w3.org\/2000\/svg\" viewbox=\"0 0 16 16\" role=\"img\" aria-hidden=\"true\"><path d=\"M14.42 1.04L3.2.7a.8.8 0 00-.8.76v.1a.8.8 0 00.76.7l9.39.3L.93 14.16c-.3.3-.3.8 0 1.1l.09.08c.3.23.73.2 1.01-.07L13.65 3.65l.29 9.4a.8.8 0 00.8.76.79.79 0 00.77-.8L15.17 1.8a.82.82 0 00-.75-.76z\" fill=\"#2e3152\"><\/path><\/svg><\/a> is possible, as shown elsewhere in the world (for instance through <a class=\"link link--external\" rel=\"noopener\" href=\"https:\/\/hal.archives-ouvertes.fr\/hal-00956292\/document\" aria-describedby=\"link-description-new-window\" target=\"_blank\" title=\"\">standardisation&#65279;<svg xmlns=\"http:\/\/www.w3.org\/2000\/svg\" viewbox=\"0 0 16 16\" role=\"img\" aria-hidden=\"true\"><path d=\"M14.42 1.04L3.2.7a.8.8 0 00-.8.76v.1a.8.8 0 00.76.7l9.39.3L.93 14.16c-.3.3-.3.8 0 1.1l.09.08c.3.23.73.2 1.01-.07L13.65 3.65l.29 9.4a.8.8 0 00.8.76.79.79 0 00.77-.8L15.17 1.8a.82.82 0 00-.75-.76z\" fill=\"#2e3152\"><\/path><\/svg><\/a>; see evidence from <a class=\"link link--external\" rel=\"noopener\" href=\"https:\/\/www.forbes.com\/sites\/michaelshellenberger\/2018\/06\/21\/if-innovation-makes-everything-cheaper-why-does-it-make-nuclear-power-more-expensive\/?sh=7f23fbde2d7d\" aria-describedby=\"link-description-new-window\" target=\"_blank\" title=\"\">South Korea&#65279;<svg xmlns=\"http:\/\/www.w3.org\/2000\/svg\" viewbox=\"0 0 16 16\" role=\"img\" aria-hidden=\"true\"><path d=\"M14.42 1.04L3.2.7a.8.8 0 00-.8.76v.1a.8.8 0 00.76.7l9.39.3L.93 14.16c-.3.3-.3.8 0 1.1l.09.08c.3.23.73.2 1.01-.07L13.65 3.65l.29 9.4a.8.8 0 00.8.76.79.79 0 00.77-.8L15.17 1.8a.82.82 0 00-.75-.76z\" fill=\"#2e3152\"><\/path><\/svg><\/a>), and nuclear remains the baseload low-carbon technology with the <a class=\"link link--external\" href=\"https:\/\/www.iea.org\/reports\/projected-costs-of-generating-electricity-2020\" aria-describedby=\"link-description-new-window\" target=\"_blank\" rel=\"noopener\" title=\"\">lowest expected&#65279;<svg xmlns=\"http:\/\/www.w3.org\/2000\/svg\" viewbox=\"0 0 16 16\" role=\"img\" aria-hidden=\"true\"><path d=\"M14.42 1.04L3.2.7a.8.8 0 00-.8.76v.1a.8.8 0 00.76.7l9.39.3L.93 14.16c-.3.3-.3.8 0 1.1l.09.08c.3.23.73.2 1.01-.07L13.65 3.65l.29 9.4a.8.8 0 00.8.76.79.79 0 00.77-.8L15.17 1.8a.82.82 0 00-.75-.76z\" fill=\"#2e3152\"><\/path><\/svg><\/a><a class=\"link link--external\" rel=\"noopener\" href=\"https:\/\/www.iea.org\/reports\/projected-costs-of-generating-electricity-2020\" aria-describedby=\"link-description-new-window\" target=\"_blank\" title=\"\"> &#65279;<svg xmlns=\"http:\/\/www.w3.org\/2000\/svg\" viewbox=\"0 0 16 16\" role=\"img\" aria-hidden=\"true\"><path d=\"M14.42 1.04L3.2.7a.8.8 0 00-.8.76v.1a.8.8 0 00.76.7l9.39.3L.93 14.16c-.3.3-.3.8 0 1.1l.09.08c.3.23.73.2 1.01-.07L13.65 3.65l.29 9.4a.8.8 0 00.8.76.79.79 0 00.77-.8L15.17 1.8a.82.82 0 00-.75-.76z\" fill=\"#2e3152\"><\/path><\/svg><\/a><a class=\"link link--external\" href=\"https:\/\/www.iea.org\/reports\/projected-costs-of-generating-electricity-2020\" aria-describedby=\"link-description-new-window\" target=\"_blank\" rel=\"noopener\" title=\"\">global average cost&#65279;<svg xmlns=\"http:\/\/www.w3.org\/2000\/svg\" viewbox=\"0 0 16 16\" role=\"img\" aria-hidden=\"true\"><path d=\"M14.42 1.04L3.2.7a.8.8 0 00-.8.76v.1a.8.8 0 00.76.7l9.39.3L.93 14.16c-.3.3-.3.8 0 1.1l.09.08c.3.23.73.2 1.01-.07L13.65 3.65l.29 9.4a.8.8 0 00.8.76.79.79 0 00.77-.8L15.17 1.8a.82.82 0 00-.75-.76z\" fill=\"#2e3152\"><\/path><\/svg><\/a> in 2025. This suggests that at least some of the reasons for the high cost of nuclear in the UK are context-specific and could be avoided. One way in which the Government intends to reduce the cost of raising finance for future nuclear projects is through a <a class=\"link link--external\" rel=\"noopener\" href=\"https:\/\/www.gov.uk\/government\/news\/future-funding-for-nuclear-plants\" aria-describedby=\"link-description-new-window\" target=\"_blank\" title=\"\">Regulated Asset Base model&#65279;<svg xmlns=\"http:\/\/www.w3.org\/2000\/svg\" viewbox=\"0 0 16 16\" role=\"img\" aria-hidden=\"true\"><path d=\"M14.42 1.04L3.2.7a.8.8 0 00-.8.76v.1a.8.8 0 00.76.7l9.39.3L.93 14.16c-.3.3-.3.8 0 1.1l.09.08c.3.23.73.2 1.01-.07L13.65 3.65l.29 9.4a.8.8 0 00.8.76.79.79 0 00.77-.8L15.17 1.8a.82.82 0 00-.75-.76z\" fill=\"#2e3152\"><\/path><\/svg><\/a> (although this approach transfers financial risk to the taxpayer).<\/p>\n\n\n\n<p>Process innovations not only in raising finance but also around plant construction have the potential to unlock a different future on the cost of nuclear. Manufacturing SMRs and AMRs in standardised modules in a factory environment could reduce bespoke construction requirements and substantially cut the huge upfront capital expenditure &ndash; <a class=\"link link--external\" rel=\"noopener\" href=\"https:\/\/world-nuclear.org\/information-library\/economic-aspects\/economics-of-nuclear-power.aspx\" aria-describedby=\"link-description-new-window\" target=\"_blank\" title=\"\">over 80%&#65279;<svg xmlns=\"http:\/\/www.w3.org\/2000\/svg\" viewbox=\"0 0 16 16\" role=\"img\" aria-hidden=\"true\"><path d=\"M14.42 1.04L3.2.7a.8.8 0 00-.8.76v.1a.8.8 0 00.76.7l9.39.3L.93 14.16c-.3.3-.3.8 0 1.1l.09.08c.3.23.73.2 1.01-.07L13.65 3.65l.29 9.4a.8.8 0 00.8.76.79.79 0 00.77-.8L15.17 1.8a.82.82 0 00-.75-.76z\" fill=\"#2e3152\"><\/path><\/svg><\/a> of which is for construction and civil works &ndash; that currently dominates the <a class=\"link link--external\" rel=\"noopener\" href=\"https:\/\/corporatefinanceinstitute.com\/resources\/knowledge\/finance\/levelized-cost-of-energy-lcoe\/\" aria-describedby=\"link-description-new-window\" target=\"_blank\" title=\"\">levelised cost of energy (LCOE)&#65279;<svg xmlns=\"http:\/\/www.w3.org\/2000\/svg\" viewbox=\"0 0 16 16\" role=\"img\" aria-hidden=\"true\"><path d=\"M14.42 1.04L3.2.7a.8.8 0 00-.8.76v.1a.8.8 0 00.76.7l9.39.3L.93 14.16c-.3.3-.3.8 0 1.1l.09.08c.3.23.73.2 1.01-.07L13.65 3.65l.29 9.4a.8.8 0 00.8.76.79.79 0 00.77-.8L15.17 1.8a.82.82 0 00-.75-.76z\" fill=\"#2e3152\"><\/path><\/svg><\/a> of nuclear projects. <a class=\"link link--external\" rel=\"noopener\" href=\"https:\/\/www.innovationreform.org\/wp-content\/uploads\/2018\/01\/Advanced-Nuclear-Reactors-Cost-Study.pdf\" aria-describedby=\"link-description-new-window\" target=\"_blank\" title=\"\">A 2017 study&#65279;<svg xmlns=\"http:\/\/www.w3.org\/2000\/svg\" viewbox=\"0 0 16 16\" role=\"img\" aria-hidden=\"true\"><path d=\"M14.42 1.04L3.2.7a.8.8 0 00-.8.76v.1a.8.8 0 00.76.7l9.39.3L.93 14.16c-.3.3-.3.8 0 1.1l.09.08c.3.23.73.2 1.01-.07L13.65 3.65l.29 9.4a.8.8 0 00.8.76.79.79 0 00.77-.8L15.17 1.8a.82.82 0 00-.75-.76z\" fill=\"#2e3152\"><\/path><\/svg><\/a> has shown that some advanced nuclear reactor concepts are expected to more than halve LCOE compared with conventional nuclear plants.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\">And then there is fusion<\/h2>\n\n\n\n<p>Despite their novelties, almost all SMR and AMR concepts to date generate energy from the same nuclear reaction as conventional reactors: fission. <a class=\"link link--external\" rel=\"noopener\" href=\"https:\/\/www.iaea.org\/bulletin\/what-is-fusion-and-why-is-it-so-difficult-to-achieve\" aria-describedby=\"link-description-new-window\" target=\"_blank\" title=\"\">Fusion&#65279;<svg xmlns=\"http:\/\/www.w3.org\/2000\/svg\" viewbox=\"0 0 16 16\" role=\"img\" aria-hidden=\"true\"><path d=\"M14.42 1.04L3.2.7a.8.8 0 00-.8.76v.1a.8.8 0 00.76.7l9.39.3L.93 14.16c-.3.3-.3.8 0 1.1l.09.08c.3.23.73.2 1.01-.07L13.65 3.65l.29 9.4a.8.8 0 00.8.76.79.79 0 00.77-.8L15.17 1.8a.82.82 0 00-.75-.76z\" fill=\"#2e3152\"><\/path><\/svg><\/a>, on the other hand, essentially creates a star on the face of Earth &ndash; an effectively unlimited source of low-carbon power. The different classifications may overlap, though: the fusion reactors developed by <a class=\"link link--external\" rel=\"noopener\" href=\"https:\/\/www.tokamakenergy.co.uk\/\" aria-describedby=\"link-description-new-window\" target=\"_blank\" title=\"\">Tokamak Energy&#65279;<svg xmlns=\"http:\/\/www.w3.org\/2000\/svg\" viewbox=\"0 0 16 16\" role=\"img\" aria-hidden=\"true\"><path d=\"M14.42 1.04L3.2.7a.8.8 0 00-.8.76v.1a.8.8 0 00.76.7l9.39.3L.93 14.16c-.3.3-.3.8 0 1.1l.09.08c.3.23.73.2 1.01-.07L13.65 3.65l.29 9.4a.8.8 0 00.8.76.79.79 0 00.77-.8L15.17 1.8a.82.82 0 00-.75-.76z\" fill=\"#2e3152\"><\/path><\/svg><\/a>, for example, are small and modular and <a class=\"link link--external\" rel=\"noopener\" href=\"https:\/\/www.gov.uk\/government\/publications\/advanced-modular-reactor-amr-feasibility-and-development-project\/advanced-modular-reactor-feasibility-and-development-successful-projects\" aria-describedby=\"link-description-new-window\" target=\"_blank\" title=\"\">classified as AMRs&#65279;<svg xmlns=\"http:\/\/www.w3.org\/2000\/svg\" viewbox=\"0 0 16 16\" role=\"img\" aria-hidden=\"true\"><path d=\"M14.42 1.04L3.2.7a.8.8 0 00-.8.76v.1a.8.8 0 00.76.7l9.39.3L.93 14.16c-.3.3-.3.8 0 1.1l.09.08c.3.23.73.2 1.01-.07L13.65 3.65l.29 9.4a.8.8 0 00.8.76.79.79 0 00.77-.8L15.17 1.8a.82.82 0 00-.75-.76z\" fill=\"#2e3152\"><\/path><\/svg><\/a> under the Government support scheme.<\/p>\n\n\n\n<p>The UK is shown to be a <a class=\"link link--external\" rel=\"noopener\" href=\"https:\/\/economy2030.resolutionfoundation.org\/wp-content\/uploads\/2022\/05\/Growing_clean_report.pdf\" aria-describedby=\"link-description-new-window\" target=\"_blank\" title=\"\">highly specialised innovator in nuclear fusion&#65279;<svg xmlns=\"http:\/\/www.w3.org\/2000\/svg\" viewbox=\"0 0 16 16\" role=\"img\" aria-hidden=\"true\"><path d=\"M14.42 1.04L3.2.7a.8.8 0 00-.8.76v.1a.8.8 0 00.76.7l9.39.3L.93 14.16c-.3.3-.3.8 0 1.1l.09.08c.3.23.73.2 1.01-.07L13.65 3.65l.29 9.4a.8.8 0 00.8.76.79.79 0 00.77-.8L15.17 1.8a.82.82 0 00-.75-.76z\" fill=\"#2e3152\"><\/path><\/svg><\/a> and has an <a class=\"link link--external\" rel=\"noopener\" href=\"https:\/\/assets.publishing.service.gov.uk\/government\/uploads\/system\/uploads\/attachment_data\/file\/1022540\/towards-fusion-energy-uk-government-fusion-strategy.pdf\" aria-describedby=\"link-description-new-window\" target=\"_blank\" title=\"\">ambitious research programme&#65279;<svg xmlns=\"http:\/\/www.w3.org\/2000\/svg\" viewbox=\"0 0 16 16\" role=\"img\" aria-hidden=\"true\"><path d=\"M14.42 1.04L3.2.7a.8.8 0 00-.8.76v.1a.8.8 0 00.76.7l9.39.3L.93 14.16c-.3.3-.3.8 0 1.1l.09.08c.3.23.73.2 1.01-.07L13.65 3.65l.29 9.4a.8.8 0 00.8.76.79.79 0 00.77-.8L15.17 1.8a.82.82 0 00-.75-.76z\" fill=\"#2e3152\"><\/path><\/svg><\/a> in this very area, which aims to build a prototype fusion power plant by 2040. This could bring significant opportunities for the UK economy, with <a class=\"link link--external\" rel=\"noopener\" href=\"https:\/\/www.bbc.com\/news\/uk-england-humber-62044893\" aria-describedby=\"link-description-new-window\" target=\"_blank\" title=\"\">more than 8,500 jobs&#65279;<svg xmlns=\"http:\/\/www.w3.org\/2000\/svg\" viewbox=\"0 0 16 16\" role=\"img\" aria-hidden=\"true\"><path d=\"M14.42 1.04L3.2.7a.8.8 0 00-.8.76v.1a.8.8 0 00.76.7l9.39.3L.93 14.16c-.3.3-.3.8 0 1.1l.09.08c.3.23.73.2 1.01-.07L13.65 3.65l.29 9.4a.8.8 0 00.8.76.79.79 0 00.77-.8L15.17 1.8a.82.82 0 00-.75-.76z\" fill=\"#2e3152\"><\/path><\/svg><\/a> estimated to be created from the manufacture and construction of the UK&rsquo;s first prototype fusion plant.<\/p>\n\n\n\n<p>Fusion research is extremely costly, with the cost of ITER (the <a class=\"link link--external\" rel=\"noopener\" href=\"https:\/\/edition.cnn.com\/interactive\/2022\/05\/world\/iter-nuclear-fusion-climate-intl-cnnphotos\/\" aria-describedby=\"link-description-new-window\" target=\"_blank\" title=\"\">international megaproject&#65279;<svg xmlns=\"http:\/\/www.w3.org\/2000\/svg\" viewbox=\"0 0 16 16\" role=\"img\" aria-hidden=\"true\"><path d=\"M14.42 1.04L3.2.7a.8.8 0 00-.8.76v.1a.8.8 0 00.76.7l9.39.3L.93 14.16c-.3.3-.3.8 0 1.1l.09.08c.3.23.73.2 1.01-.07L13.65 3.65l.29 9.4a.8.8 0 00.8.76.79.79 0 00.77-.8L15.17 1.8a.82.82 0 00-.75-.76z\" fill=\"#2e3152\"><\/path><\/svg><\/a> aiming to bring fusion to life) now estimated at &euro;22 billion, up from an initial estimate of &euro;6 billion. But <a class=\"link link--external\" rel=\"noopener\" href=\"https:\/\/www.imeche.org\/docs\/default-source\/1-oscar\/reports-policy-statements-and-documents\/imeche-fusion-report-ao.pdf?sfvrsn=a9a29112_2\" aria-describedby=\"link-description-new-window\" target=\"_blank\" title=\"\">private sector investment&#65279;<svg xmlns=\"http:\/\/www.w3.org\/2000\/svg\" viewbox=\"0 0 16 16\" role=\"img\" aria-hidden=\"true\"><path d=\"M14.42 1.04L3.2.7a.8.8 0 00-.8.76v.1a.8.8 0 00.76.7l9.39.3L.93 14.16c-.3.3-.3.8 0 1.1l.09.08c.3.23.73.2 1.01-.07L13.65 3.65l.29 9.4a.8.8 0 00.8.76.79.79 0 00.77-.8L15.17 1.8a.82.82 0 00-.75-.76z\" fill=\"#2e3152\"><\/path><\/svg><\/a> in fusion is growing rapidly, which suggests increasing confidence that it can eventually be commercialised. In February 2022, the world&rsquo;s largest operational tokamak machine at the Joint European Torus facility in Oxford <a class=\"link link--external\" rel=\"noopener\" href=\"https:\/\/www.gov.uk\/government\/news\/fusion-energy-record-demonstrates-powerplant-future\" aria-describedby=\"link-description-new-window\" target=\"_blank\" title=\"\">broke a historical record&#65279;<svg xmlns=\"http:\/\/www.w3.org\/2000\/svg\" viewbox=\"0 0 16 16\" role=\"img\" aria-hidden=\"true\"><path d=\"M14.42 1.04L3.2.7a.8.8 0 00-.8.76v.1a.8.8 0 00.76.7l9.39.3L.93 14.16c-.3.3-.3.8 0 1.1l.09.08c.3.23.73.2 1.01-.07L13.65 3.65l.29 9.4a.8.8 0 00.8.76.79.79 0 00.77-.8L15.17 1.8a.82.82 0 00-.75-.76z\" fill=\"#2e3152\"><\/path><\/svg><\/a> with five seconds of sustained fusion energy. When it happens, fusion could revolutionise the energy system entirely.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\">Risk in perspective<\/h2>\n\n\n\n<p>Nuclear waste and safety are two crucial considerations for the role of nuclear in a sustainable future. Apart from one <a class=\"link link--external\" rel=\"noopener\" href=\"https:\/\/www.world-nuclear-news.org\/Articles\/Finnish-fuel-encapsulation-plant-enters-installati\" aria-describedby=\"link-description-new-window\" target=\"_blank\" title=\"\">long-term waste repository&#65279;<svg xmlns=\"http:\/\/www.w3.org\/2000\/svg\" viewbox=\"0 0 16 16\" role=\"img\" aria-hidden=\"true\"><path d=\"M14.42 1.04L3.2.7a.8.8 0 00-.8.76v.1a.8.8 0 00.76.7l9.39.3L.93 14.16c-.3.3-.3.8 0 1.1l.09.08c.3.23.73.2 1.01-.07L13.65 3.65l.29 9.4a.8.8 0 00.8.76.79.79 0 00.77-.8L15.17 1.8a.82.82 0 00-.75-.76z\" fill=\"#2e3152\"><\/path><\/svg><\/a> due to open in Finland next year, the world currently does not have a permanent solution for storing high-level nuclear waste. Due to the amount of legacy nuclear waste that already exists, this is a problem that needs to be addressed even if all the world&rsquo;s nuclear plants were shut down tomorrow. Using waste as an argument to discontinue nuclear is therefore disputable.<\/p>\n\n\n\n<p>On safety, going back to the U-Battery example, this reactor design uses a highly engineered (and therefore expensive) fuel which is inherently accident-tolerant, as any event of overheating (which is unlikely to happen to begin with, given several layers of safety systems) leads the reactor to shut itself down. This suggests that safety is an engineering challenge, and it is not unimaginable that innovative minds can achieve a lot more in this realm.<\/p>\n\n\n\n<p>Ultimately, nuclear is a proven source of predictable power which provides almost <a class=\"link link--external\" rel=\"noopener\" href=\"https:\/\/www.iea.org\/reports\/world-energy-balances-overview\/world\" aria-describedby=\"link-description-new-window\" target=\"_blank\" title=\"\">30% of the world&rsquo;s low-carbon electricity&#65279;<svg xmlns=\"http:\/\/www.w3.org\/2000\/svg\" viewbox=\"0 0 16 16\" role=\"img\" aria-hidden=\"true\"><path d=\"M14.42 1.04L3.2.7a.8.8 0 00-.8.76v.1a.8.8 0 00.76.7l9.39.3L.93 14.16c-.3.3-.3.8 0 1.1l.09.08c.3.23.73.2 1.01-.07L13.65 3.65l.29 9.4a.8.8 0 00.8.76.79.79 0 00.77-.8L15.17 1.8a.82.82 0 00-.75-.76z\" fill=\"#2e3152\"><\/path><\/svg><\/a> today. Innovation offers the potential to expand the role of nuclear along the transition to a net-zero energy system in the UK and globally. While nuclear technology has its risks, perhaps the greater risk would be excluding nuclear from the global energy system, resulting in a reduced ability to produce low-carbon energy at scale and most likely <a class=\"link link--external\" rel=\"noopener\" href=\"https:\/\/www.iea.org\/reports\/nuclear-power-and-secure-energy-transitions\/executive-summary\" aria-describedby=\"link-description-new-window\" target=\"_blank\" title=\"\">undermining the urgently needed transition&#65279;<svg xmlns=\"http:\/\/www.w3.org\/2000\/svg\" viewbox=\"0 0 16 16\" role=\"img\" aria-hidden=\"true\"><path d=\"M14.42 1.04L3.2.7a.8.8 0 00-.8.76v.1a.8.8 0 00.76.7l9.39.3L.93 14.16c-.3.3-.3.8 0 1.1l.09.08c.3.23.73.2 1.01-.07L13.65 3.65l.29 9.4a.8.8 0 00.8.76.79.79 0 00.77-.8L15.17 1.8a.82.82 0 00-.75-.76z\" fill=\"#2e3152\"><\/path><\/svg><\/a> to net zero emissions.<\/p>\n\n\n\n<p><em>This commentary is based on a shorter piece originally published by <\/em><a href=\"https:\/\/www.businessgreen.com\/opinion\/4053214\/innovation-epx-uks-nuclear-renaissance\" target=\"_blank\" rel=\"noreferrer noopener\"><em>Business Green<\/em><\/a><em> on 18 July.<\/em><\/p>\n\n\n\n<p><\/p>\n\n","protected":false},"excerpt":{"rendered":"<!DOCTYPE html PUBLIC \"-\/\/W3C\/\/DTD HTML 4.0 Transitional\/\/EN\" \"http:\/\/www.w3.org\/TR\/REC-html40\/loose.dtd\">\n<?xml encoding=\"UTF-8\"><p>Advanced nuclear technologies, modular manufacturing methods and new approaches to project finance could usher in a more cost-effective era for the UK&rsquo;s nuclear industry, writes Esin Serin.<\/p>\n\n","protected":false},"author":57,"featured_media":60766,"template":"","tags":[2337,219,1133,512,2335,2336,437,2334],"news-category":[16],"topic_area":[4694,4696],"class_list":["post-60765","news","type-news","status-publish","has-post-thumbnail","hentry","tag-advanced-modular-reactor","tag-innovation","tag-net-zero","tag-nuclear-energy","tag-nuclear-technology","tag-small-modular-reactor","tag-uk","tag-uk-energy-security-strategy","news-category-20-commentary","topic_area-policy-evaluation","topic_area-uk-emissions-policy"],"acf":{"exclude_from_sync":{"ref_value":"field_560538b0e7350","value":"0","type":false,"post_type":""},"downloads":{"ref_value":"field_52f16cc1a80f2","value":false,"type":"repeater","post_type":""},"rss_newsletter":{"ref_value":"field_54f5c2c1544d8","value":"","type":false,"post_type":""},"profile_link":{"ref_value":"field_52f164b5189e9","value":["esin-serin"],"type":"relationship","post_type":"profile"},"article_link":{"ref_value":"field_52eee3c7f0586","value":"","type":false,"post_type":""},"article_link_title":{"ref_value":"field_5322399d89d42","value":"","type":false,"post_type":""},"spotlight":{"ref_value":"field_52f80896506d3","value":"","type":false,"post_type":""}},"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.4 - 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