Abstract

Small Modular Reactors (SMR) have unique design, safety and economic features that make them attractive to potential project developers and end-users but also investors, governments, and communities worldwide. The technology can be applied to produce low-carbon electricity, heat (for district heating, for example), hydrogen and desalinated water, in addition to grid, load-following and ancillary services. More than 80 SMR designs and concepts are currently under development and have varying degrees of readiness levels. For each of these projects, development costs need to be understood, as well as construction and operation expenses, which still need to be appropriately estimated, analysed and optimised. Specific revenue models are also needed for demonstrating the business case and secure access to funding, financing, and low cost of capital for the promoters of the technology. Finally, the macroeconomic impact associated with SMR development, manufacturing, construction and operation has to be quantified and communicated to gain the support of the government and society at large.