Nonetheless, of electricity) as compared to the large-scale NPPs are confronted with the sheer magnitude of the energy also raised – as well as compared to the ever more cost- transition, the role of SMRs in maintaining a trajectory of convenient solar PV farms (see subsection 3.3.1 for the net-zero emissions by 2050 is likely to prove decisive. [...] of maturity, it could lead to a reduction in the time-to- market (i.e., the time needed between the development 2.4 Value Proposition of the project and the commissioning of the reactor)” (NEA, 2021). [...] Figure 2: Global Power Generation (IEA, NZE) Source: IEA (2022a, 134) 6 In a variant of the NZE scenario called the Low Nuclear Case, assuming failure to extend lifetimes for the existing units and to invest in new nuclear plants, the share of nuclear power in the energy mix is projected to fall from 10% in 2020 to 3% in 2030, with the burden of the net-zero emissions trajectory borne by renewable. [...] The costs of certifying new designs and the cost of factories yet to be built are subject to high uncertainties.” For new, unsubsidized conventional nuclear plants, Among the several metrics developed in the literature, Lazard (2023) has estimated an LCOE in the range of we discuss below the System LCOE and the Levelized $141-221/MWh, with an average of $181/MWh – U. [...] The about LCOE as an exclusive tool to calculate the lifetime System LCOE is defined as the sum of the generation costs of power plants, especially in power systems with costs (LCOE) and the integration costs for the PP’s high shares of variable renewable energy sources (VRE), lifetime.
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