Energy storage can increase the value and flexibility of a nuclear power plant but makes the plant economics more subject ot uncertainty in electricty price.

Highlights

• Nuclear power plant with integrated thermal energy storage
• Uncertainties in capital expenses, fixed annual costs, variable costs, and electricity price are considered
• Net present value (NPV) is most sensitive to capital expenses, price uncertainty
• Sensitivity to price uncertainty varies by region

System Model

Models the Natrium system designed by TerraPower and GE Hitachi Nuclear

Thermal energy storage adds flexibility to otherwise fixed reactor output

Studied Regional Markets

• Regional markets have unique generator mixes, price dynamics
• Variable renewables (wind, solar) add to price and demand uncertainty

Long-Term Goal: Can flexible nuclear replace coal and natural gas generation?

Uncertainties in Model Inputs

Uncertainty in reference prices for component costs

Uncertainty in time series of historical price data

“Synthetic histories” are sampled from statistical models fit to the time series data

Sobol indices are used to quantify sensitivity of net present value (NPV) to these uncertainties

Results – Model Sensitivities

Capital costs are the greatest source of uncertainty for both regions

Sensitivity to cost drivers is consistent between regions

Large difference in sensitivity to electricity price is due to reduced storage utilization