ANALYSIS OF COSTS, BENEFITS, AND IMPLICATIONS OF PATHWAYS IN CAPTURING THE VALUE OF NUCLEAR ENERGY: A CASE STUDY OF TEXAS

Abstract

Decarbonizing electricity primarily from wind and solar resources will likely require other low- or no-carbon alternatives to reliably meet electricity demands. This paper examines the competitiveness of two nuclear energy technologies, large Light Water Reactors (LWRs) and LWR-type Small Modular Reactors (SMRs) under a variety of plausible future scenarios. Furthermore, this paper suggests where nuclear energy should be operated and what performance characteristics make nuclear energy economically viable in locations with extensive additions of intermittent energy sources. Through 24 cases, our modeling of the least-cost grid systems highlights the potential of LWR-thermal energy storage coupling and SMRs in making deep decarbonization technically feasible and affordable. Focusing on the seasonal variations in balancing electricity supply and demand, we also capture their widely varying performance along with costs and grid constraints. The implications of our modeling findings can provide tailored design space for future technology investment decisions.