Summary

Nuclear costs

  • Construction costs constitute two-thirds of nuclear generation costs.

  • Construction delays are a key driver of higher costs

  • Construction delays result from regulatory ratcheting, anti-nuclear advocacy and building first-of-a-kind designs.

Key drivers of nuclear construction cost reductions are:

  • Long-term commitment by nation-state;

  • Standardization of plant construction;

  • Building multiple reactors on the same site;

  • Larger reactors

  • Centralization and vertical integration;

  • Low-interest financing;   

Little evidence that non-light water reactors or modularization will reduce construction costs.