Modularisation as enabler of circular economy in energy infrastructure

Existing energy infrastructure have a technical and/or economic lifecycle predetermined by the lifetime of certain components. In energy infrastructure, the residual lifetime of civil structure or other components with a longer life is usually wasted. Modular energy infrastructure can be reconfigurable decoupling the life of the infrastructure from their modules, and extending module and/or infrastructure lifecycle. Modularisation could become a cornerstone to enable circular economy (CE) and enhanced sustainability. Remarkably, despite the growing interest among policymakers, practitioners and academics in both CE and modularisation, there is a lack of knowledge about the link between CE and modularisation in energy infrastructure. Through a Systematic Literature Review, this paper derives the gap in knowledge regarding the link between CE and modularisation in energy infrastructure. This link is then investigated in other sectors identifying relevant implications such as reduction of construction waste and achievement of the closed-loop material cycle. Furthermore, the case of Yamal Liquefied Natural Gas project is used to compare and contrast two perspectives: “Traditional modularisation” and “Modular CE”. Lastly, the paper discusses existing policies, provides policy recommendations to foster “Modular CE” in energy infrastructure and suggests a research agenda

Modular Circular Economy in Energy Infrastructure Projects: Enabling Factors and Barriers

There is a growing body of literature surrounding circular economy (CE) and energy infrastructure projects. Most of this literature focuses on CE initiatives related to material recovering and recycling. The body of knowledge about reusing components is limited and mostly related to the need for reusing rather than providing solutions on how to reuse components. Modularization can be a step towards a solution, enabling entire modules or their components to retain their functionality in other infrastructures. Leveraging 23 semistructured interviews with nuclear and oil and gas experts, mainly based in the UK and US with international experience, this paper deals with the link between modularization and CE (defined modular CE) to identify enabling factors and barriers for the reuse of modules or their components. Relevant enabling factors are the monitoring of module and component conditions, standardization of module and component designs, and early planning. Relevant barriers are the lack of a second-hand market, economics, and regulatory challenges. The results are relevant to the stakeholders involved in planning, building, operating, and decommissioning energy infrastructures

Economics and finance of Molten Salt Reactors

There is a long-standing and growing interest in Molten Salt Reactors (MSRs) mainly because of their potential advantages in terms of safety, sustainable fuel cycle, and the high melting and boiling points of salt which allow operations at high temperatures and atmospheric pressure with potential merits in terms of cost. A key objective of MSRs is to have a life-cycle cost advantage over other energy sources. Leveraging a systematic literature review, this paper firstly provides an overview of “what we know” about MSR economics and finance following two main streams: scientific and industrial literature. Secondly, this paper highlights “what we should know” about the economics and finance of MSRs, suggesting a research agenda. The literature is very scarce and focuses on MSR overnight capital cost estimations and the comparison between MSR cost of electricity and other energy sources. Cost estimations need to be more transparent and independently assessed. Furthermore, there is no peer-reviewed literature on MSR financing, only claims from vendors

Transportation of small modular reactor modules: What do the experts say?

One of the key characteristics of small modular reactors (SMRs), as their name emphasised, is the modularization. Modularization implies factory production, which in turn implies transportation of large, heavy, complex and fragile modules from the factory to the site. Various vendors and organisations are developing several SMR concepts and designs, but there are extremely limited information about the crucial element of modules transportation. Conversely, in other industries (e.g. Oil & Gas), the experience on modules transportation is much greater. This paper provides a structured analysis for the knowledge transfer from the general literature (i.e. other major infrastructure) to the SMR world. Firstly, the paper provides a summary of the literature about transporting large modules. In the second part, the paper presents and discusses the results of a series of interviews with transport industry experts about large modules transportation. The third part provides a summary of the findings and the key takeaways

Deeds not words: Barriers and remedies for Small Modular nuclear Reactors

There is a growing interest in Small Modular nuclear Reactors (SMRs) driven mostly by the concerns in decarbonising the electricity and heat sectors. Despite the expected advantages of SMRs with respect to large reactors (e.g. construction schedule reduction, lower upfront investment per unit) and at least two decades of studies, investments in SMRs have been extremely limited. Leveraging a literature review, in-depth discussions, and a questionnaire survey, this paper aims to identify and rank general elements hindering SMR construction, specific licensing and regulatory elements affecting SMR construction, and elements favouring or hindering the reuse of SMR modules. The results show that financial and economic issues (including perceived investment risk, availability of cheaper technologies to generate electricity) are the main barriers for SMR construction. Government support for financing the first-of-a-kind and developing a supply chain could allow overcoming these barriers. Time, cost and risk of the licensing process are critical elements for SMR construction; therefore, policies should be in place to support stakeholders. The economic feasibility can hinder the opportunity of reusing SMR modules. Design and interface standardisation are the main enabling factors of reusing SMR modules. Further studies on SMR decommissioning through a "circular economy" lens are needed

Developing UK strategy for nuclear SMRs

Nuclear Small Modular Reactors (SMRs) can play a role in UK decarbonisation, providing low-carbon electricity and heat. SMR investments are more affordable and less risky, therefore attracting a wider range of potential investors. The UK government needs to develop a consistent strategy to support UK SMRs

Economics and finance of Small Modular Reactors: A systematic review and research agenda

The interest toward Small Modular nuclear Reactors (SMRs) is growing, and the economic competitiveness of SMRs versus large reactors is a key topic. Leveraging a systematic literature review, this paper firstly provides an overview of “what we know” and “what we do not know” about the economics and finance of SMRs. Secondly, the paper develops a research agenda. Several documents discuss the economics of SMRs, highlighting how the size is not the only factor to consider in the comparison; remarkably, other factors (co-siting economies, modularisation, modularity, construction time, etc.) are relevant. The vast majority of the literature focuses on economic and financial performance indicators (e.g. Levelized Cost of Electricity, Net Present Value, and Internal Rate of Return) and SMR capital cost. Remarkably, very few documents deal with operating and decommissioning costs or take a programme (and its financing) rather than a “single project/plant/site” perspective. Furthermore, there is a gap in knowledge about the cost-benefit analysis of the “modular construction” and SMR decommissioning