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Techno-Economic Comparison of a Large-Scale Nuclear Power Plant, Small Modular Reactors, and Wind and Solar Power Plant Deployment

Author

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  • Sanja Milivojevic

    (Faculty of Mechanical Engineering, University of Belgrade, Kraljice Marije 16, 11120 Belgrade, Serbia)

  • Milan M. Petrovic

    (Faculty of Mechanical Engineering, University of Belgrade, Kraljice Marije 16, 11120 Belgrade, Serbia)

  • Vladimir D. Stevanovic

    (Faculty of Mechanical Engineering, University of Belgrade, Kraljice Marije 16, 11120 Belgrade, Serbia)

  • Jovica Riznic

    (Department of Mechanical and Manufacturing Engineering, Ontario Tech University, 2000 Simcoe Street North, Oshawa, ON L1G 0C5, Canada)

  • Milos Lazarevic

    (Faculty of Mechanical Engineering, University of Belgrade, Kraljice Marije 16, 11120 Belgrade, Serbia)

Abstract

A comparison of the net present value, the payback period, and the levelized cost of electricity for three different projects of construction and exploitation of plants for electricity production with the aim of decarbonizing the energy sector is conducted. The first project is the building of a large-scale nuclear power plant with a light-water reactor, the second one is the deployment of several identical small modular reactors, and the third project is based on solar and wind power plants. Given that the sun and wind are intermittent renewable energy sources, it is inevitable to take into account the construction of an energy storage facility in the last project. The results show that the most profitable are the small modular reactors, while the investment into solar and wind power plants is burdened with the necessary electricity storage plant costs. Another drawback of an investment in solar and wind power plants is their shorter exploitation lifetime of 25 years compared to the long-term operation of nuclear power plants of 60 years or even more.

Suggested Citation

  • Sanja Milivojevic & Milan M. Petrovic & Vladimir D. Stevanovic & Jovica Riznic & Milos Lazarevic, 2025. "Techno-Economic Comparison of a Large-Scale Nuclear Power Plant, Small Modular Reactors, and Wind and Solar Power Plant Deployment," Energies, MDPI, vol. 18(9), pages 1-18, May.
    • Handle: RePEc:gam:jeners:v:18:y:2025:i:9:p:2355-:d:1649557
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    References listed on IDEAS

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    1. Vladimir Kindra & Igor Maksimov & Olga Zlyvko & Andrey Rogalev & Nikolay Rogalev, 2024. "Thermodynamic Analysis and Comparison of Power Cycles for Small Modular Reactors," Energies, MDPI, vol. 17(7), pages 1-22, March.
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    5. Staffell, Iain & Green, Richard, 2014. "How does wind farm performance decline with age?," Renewable Energy, Elsevier, vol. 66(C), pages 775-786.
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