Small modular reactors are a long-term solution, not a quick fix

Countries should focus on renewables which are easier to deploy, experts said.

Small modular reactors (SMR) are not the solution to address the growing demand for power since they are more expensive and take time to build compared to other alternatives, the Institute for Energy Economics and Financial Analysis (IEEFA) said.

In a briefing note, IEEFA highlighted the lack of detail in recent nuclear project announcements and questioned the feasibility of SMRs addressing immediate energy demand.

“Restarting a limited number of recently closed conventional reactors is entirely different than building unproven and unlicensed SMRs,” said Dennis Wamsted, IEEFA energy analyst and co-author of the report.

Whilst some SMRs might bring additional power down, the reality is that solar and geothermal plants are still cheaper and faster to build even compared to the most optimistic SMR designs, he added.

IEEFA said SMRs are a next-decade resource, at best. Clean, affordable energy solutions are already available to meet current and future demand.

“Utilities, developers, and large power users need to focus there and stop betting on expensive, unproven nuclear technologies that will not generate meaningful amounts of power for years to come,” the think tank said.