S. Boarin1, M. Mancini1, M. Ricotti1, G. Locatelli2 1 Politecnico di Milano, Milan, Italy; 2University of Lincoln, Lincoln, UK

10.1 Introduction

A description of the economic and industrial potential features of small modular reactors (SMRs) was given in 2010 by the US Secretary of Energy (Chu, 2010):

‘[…] Small modular reactors would be less than one-third the size of current plants. They have compact designs and could be made in factories and transported to sites by truck or rail. SMRs would be ready to ‘plug and play’ upon arrival. If commercially successful, SMRs would significantly expand the options for nuclear power and its applications. Their small size makes them suitable to small electric grids so they are a good option for locations that cannot accommodate large-scale plants. The modular construction process would make them more affordable by reducing capital costs and construction times. Their size would also increase flexibility for utilities since they could add units as demand changes, or use them for on-site replacement of aging fossil fuel plants. […] These SMRs are based on proven Light Water Reactor technologies and could be deployed in about 10 years’.

The goal of this chapter is to present the most relevant economic and competitive aspects related to the SMR concept.