Competitiveness Strategies of Key Small Modular Light Water Reactor Projects

It is widely recognized that economies of scale enhance the competitiveness of large-scale nuclear reactors compared to small modular light-water reactors (SMRs). As such, choosing an appropriate strategy to enhance competitiveness is crucial for the future of SMRs. Their development is still in the early stages, and among the leading projects, two distinct approaches to technical innovation can be observed. In some projects, technical innovations are rejected because they are perceived as triggers for risky, costly, and long-term processes. In other projects, technical innovations are viewed as a means to achieve substantial cost reductions. Currently, it is challenging not only to identify the most promising SMR projects but also to determine which approach to technical innovation will ultimately be more effective. First, it is worth examining how leading SMR projects have improved their competitiveness. Additionally, even if light-water SMRs are not deployed, it is likely that some of their innovative solutions will be incorporated into other advanced nuclear power plant designs and potentially beyond the nuclear industry.