Even with billions of dollars in tax credits, costs skyrocket at U.S. Small Modular Reactor Project « Antinuclear

The institute cites the Vogtle nuclear project in Georgia, the only new reactors currently under construction in the U.S., where costs have increased 140% and work has fallen more than six years behind schedule since construction began in 2011.

UAMPS doesn’t plan to complete design work until 2024, and has eight years of design, licensing, construction, and pre-operational and start-up testing ahead. (IEEFA puts the project start date at 2030, not 2029.) But even at today’s revised pricing, “a target power price between $90 and $100 per MWh will make the CFPP even more uneconomic compared to renewable and battery storage resources costs that are expected to continue to decline over the next decade.”

In October, analysis by investment banking giant Crédit Suisse found that IRA funding combined with other available tax credits would bring solar project costs in as low as $4 per megawatt-hour, or less than half a penny per kilowatt-hour, falling to zero (literally) in the second half of the decade.

Even with billions of dollars in tax credits, costs skyrocket at U.S. Small Modular Reactor Project « Antinuclear