SMR vs Large Reactor: Total Cost of Ownership Comparison
Detailed financial comparison — CAPEX, OPEX, fuel costs, decommissioning, and levelized cost of energy.
Key Highlights
- ✓ CAPEX comparison ($/MW)
- ✓ OPEX and fuel cost analysis
- ✓ Decommissioning fund projections
- ✓ LCOE sensitivity analysis
- ✓ Financing and risk premium comparison
Overview
A detailed Total Cost of Ownership (TCO) comparison between Small Modular Reactors (SMRs) and traditional large-scale nuclear reactors. Analyzes CAPEX, OPEX, fuel costs, decommissioning, and LCOE.
What's Inside
CAPEX Analysis
Large reactors cost $6,000-9,000/kW installed, while SMRs target $4,000-6,000/kW through factory production and simplified site work. We model overnight costs, interest during construction, and first-of-a-kind vs. nth-of-a-kind pricing.
LCOE Comparison
Including fuel, O&M, decommissioning, and financing, large reactors achieve $80-120/MWh while SMRs project $60-100/MWh. We run sensitivity analyses on capacity factors, discount rates, and fuel prices.
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