As of 2023 roughly 50 small modular reactor (SMR) designs are under development, with electrical generating capacity varying between 5 and 300 megawatts.
Compared to the current generation of larger nuclear reactors, SMRs would require smaller capital investments and provide options for deployment at remote locations with smaller power demands. But as reactor size goes down, unit cost goes up, as does the amount of radioactive waste per unit of electricity generated.
Different technology options attempt to address the concerns that plague the nuclear industry: safety, cost, radioactive waste, and weapons proliferation. However, designing for “passive safety”, opting for “waste recycling”, or providing “proliferation resistance” all involve trade-offs. With no clear “best” design, and no sizeable market, there is no justification for building a factory to mass-produce “modular” components to bring down costs.
SMR promoters have steered the debate away from these issues, arguing that all options for addressing climate change must be on the table. More SMR designs mean more opportunities to secure public subsidies.
The Government of Canada appears to have accepted the "all options” argument, and by funding multiple SMR designs is contributing to the illusion of profitability. Canada’s nuclear regulator, despite its limited capacity for technical assessment of SMR designs, has opted to boost them through largely inconsequential “vendor design reviews.”
More than 80 years have passed since the first controlled, self-sustaining nuclear chain reaction. All proposed SMRs are essentially variations on older reactor designs that were tested decades ago and eventually abandoned.
The World Nuclear Industry Status Report concludes that SMRs “will likely face major economic challenges and not be competitive on the electricity market.”
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