The major news in the world of nuclear energy this month is the collapse of the Carbon Free Power Project in the United States. The project was expected to build six NuScale small modular nuclear reactors (SMRs). Given NuScale’s status as the flagship SMR design not just in the United States, but also globally, the project’s cancellation should ring alarm bells in Canada.
Yet SMRs are touted as a climate-action strategy although it's becoming clearer by the day that they will delay a possible transition to net-zero energy, and render it more expensive. The NuScale project failed because there were not enough customers for its expensive electricity. The project's construction cost estimates had been steadily rising—from US$4.2-billion for 600 megawatts in 2018 to a staggering US$9.3-billion (C$12.8-billion) for 462 megawatts. Using a combination of government subsidies—potentially up to US$4.2-billion—and an opaque calculation method, NuScale claimed that it would produce electricity at US$89 per megawatt-hour. When standard U.S
Nuclear Energy Carbon Free Power Project Small Modular Nuclear Reactors Smrs Climate-Action Strategy Cost-Effectiveness
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