Achieving net zero globally will be harder without nuclear
Highlights Terra Praxis’ Repowering Coal initiative as a vehicle to achieve decarbonization by repowering retired coal plants globally with clean energy
Expanded role for nuclear providing emissions-free power, heat & hydrogen
Terra Praxis welcomes the new International Energy Agency (IEA) report, Nuclear Power and Secure Energy Transitions: From Today’s Challenges to Tomorrow’s Clean Energy Systems, (published June 30, 2022), which concludes that nuclear power can play a significant role in helping countries solve the twin crises of energy and climate.
The message is clear: Achieving Net Zero globally will be harder without nuclear energy. Nuclear power can reduce reliance on imported fossil fuels, cut carbon dioxide emissions, and stabilize electricity systems.
Terra Praxis co-founders, Kirsty Gogan and Eric Ingersoll, were honored to contribute their insights to the study team and to peer review the draft report.
Eric Ingersoll says: “In addition to excellent recommendations on target costs for nuclear energy to greatly expand its role in providing emissions-free power, heat and hydrogen, we welcome the IEA’s new emphasis on the opportunity to repower thermal plants with small modular reactors (SMRs), and in particular the spotlight on Terra Praxis’ Repowering Coal initiative as a solution targeting hard-to-abate coal-fired plants, which are the single largest contributor to global carbon emissions.”
The report points to the Terra Praxis Repowering Coal project: “In Europe alone (excluding countries that oppose nuclear or are phasing it out), for example, 34 GW of installed coal capacity, or 32% of the total, is made up of plants with 50 MW to 700 MW of capacity. While these coal-fired power stations could, depending on the case, be replaced by large reactors ensuring the equivalent production of electricity into the grid, SMRs with a capacity of 200 MWto 300 MW are well placed to replace some of this coal-fired capacity, depending on timing and other considerations. Various initiatives can facilitate the replacement of coal-fired plants with SMRs, such as that of Terra Praxis which aims to prepare standardised and pre-licensed designs supported by automated project development and design tools.”
Kirsty Gogan says: “We are grateful to the IEA for increasing the global profile of Terra Praxis’ Repowering Coal solution and for placing nuclear power at the forefront of global conversations around energy and climate."
The project will standardize and customize heat transfer and storage systems to allow small nuclear systems to ‘plug in’ to existing coal plant infrastructure delivering a capital cost saving of28- 35% (compared to a new nuclear plant) and without major reworking of the existing energy grid.
A new, component-based building system has been developed to optimize all stages of the project and leading-edge digital tools will enable all stakeholders to share progress and results in real time across all projects. It’s a completely different approach to energy infrastructure.
Martin Wood, co-founder, Bryden Wood (who are leading the development of the building system) adds: “The tools we’re creating mean we’ll have a huge number of plants poised to convert to clean energy as soon as the reactors are ready. This readiness is only possible with adaptable and universal design.”
The report also highlights the momentum building around SMRs and the important role they could play in achieving Net Zero goals and building a diverse mix of domestic, non-fossil fuel energy sources, especially in hard to abate industries where renewables are less technically or economically viable, stating:
“Being smaller can help SMRs fit in. Lower capital costs, inherent safety and waste management attributes and reduced project risks may improve social acceptance and attract private investment for research and development, demonstration and development. SMRs could also reuse the sites of retired fossil fuel power plants, taking advantage of existing transmission, cooling water and skilled workforces. Other opportunities include co-location with industry to provide electricity, heat and hydrogen.”
“In today’s context of the global energy crisis, skyrocketing fossil fuel prices, energy security challenges, and ambitious climate commitments, I believe nuclear power has a unique opportunity to stage a comeback,” said IEA Executive Director Fatih Birol.
According to the IEA, success will depend on immediate policy action by governments, as well as industry's ability to deliver projects at speed and scale.