Nuclear power is one of the most significant and well-established alternatives to fossil fuel energy, but it is possibly facing one of its biggest transformations to date! Small Modular Reactors (SMR) are being discussed as a major disruptor within the sector – promising a new dawn for nuclear power.
So, what are SMRs? Effectively they are reactors that are significantly more compact than conventional nuclear reactors – generating 300 MWe or less – that can be built offsite and potentially deployed far faster. Despite their smaller size they can still generate enough power for one million homes.
With conventional nuclear power a long build time is standard, for example the new Sizewell C plant in Suffolk is expected to take between nine and twelve years to complete. Using modular construction with SMRs shortens the construction phase, which could be reduced down to just 500 days! The flexibility of modular construction also means parts can easily be transported via a diversity of means, simplifying logistics.
So are SMRs purely speculative? Not so, the technology has been successfully deployed in Russia with the floating Akademik Lomonosov plant being connected to the grid. In addition, the first ever land based commercial SMRs are now currently under construction in China, Russia and Argentina too.
A consortium headed by Rolls-Royce is planning to bring this technology to the UK, with plans for 16 SMRs across the country. This group has plans to build its first model by the early 2030s and up to ten by 2035 – they could play a major role in driving forward the UK’s drive towards net zero!
With the potential to create tens of thousands of new jobs – the new technology could have a huge impact to the UK economy. It’s currently estimated that SMRs will return £52bn to the UK economy by 2050 (if all 16 are built). This also means major opportunities to those within the supply chain. With the target cost for each station being around £1.8bn, this brings with it opportunities for years to come.
The UK Government revealed in November 2021 that they would commit £210m towards the consortium led by Rolls-Royce SMR – and this investment is also being backed by a £250m Private Sector investment as well. The consortium has already submitted the design to the UK’s Generic Design Assessment, which will assess its capability.
To find out more information about the exciting changes and opportunities that are taking place within the atomic energy sector, join our upcoming Nuclear Development Conference. You will have an opportunity to meet the CEO of the UK Small Modular Reactors Consortium along with representatives from Sizewell C, the National Nuclear Laboratory, the Department for Business Energy & Industrial Strategy, UKRI, Penultimate Power UK and Heart of the South West LEP.
The post Small Modular Reactors: An Incoming Energy Revolution? appeared first on Built Environment Networking.
