A methodology for calculating the levelized cost of electricity in nuclear power systems with fuel recycling
In this paper we show how the traditional definition of the levelized cost of electricity (LCOE) can be extended to alternative nuclear fuel cycles in which elements of the fuel are recycled. In particular, we define the LCOE for a cycle with full actinide recycling in fast reactors in which elements of the fuel are reused an indefinite number of times. To our knowledge, ours is the first LCOE formula for this cycle. Others have approached the task of evaluating this cycle using an 'equilibrium cost' concept that is different from a levelized cost. We also show how the LCOE implies a unique price for the recycled elements. This price reflects the ultimate cost of waste disposal postponed through the recycling, as well as other costs in the cycle. We demonstrate the methodology by estimating the LCOE for three classic nuclear fuel cycles: (i) the traditional Once-Through Cycle, (ii) a Twice-Through Cycle, and (iii) a Fast Reactor Recycle. Given our chosen input parameters, we show that the 'equilibrium cost' is typically larger than the levelized cost, and we explain why.
References listed on IDEAS
Please report citation or reference errors to , or , if you are the registered author of the cited work, log in to your RePEc Author Service profile, click on "citations" and make appropriate adjustments.:
- Verbruggen, Aviel, 1983. "Cogeneration -- allocation of joint costs," Energy Policy, Elsevier, vol. 11(2), pages 171-176, June.
When requesting a correction, please mention this item's handle: RePEc:eee:eneeco:v:33:y:2011:i:5:p:826-839. See general information about how to correct material in RePEc.
For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: (Zhang, Lei)
If references are entirely missing, you can add them using this form.