can nuclear energy thrive in a carbon-constrained world ... … · jacopo buongiorno is the tepco...

Can Nuclear Energy Thrive in a Carbon-Constrained World? - Findings from a new MIT study - Jacopo Buongiorno TEPCO Professor and Associate Department Head, Nuclear Science and Engineering Director, Center for Advanced Nuclear Energy Systems (CANES) Massachusetts Institute of Technology (MIT) Harnessing the power of the atomic nucleus for peaceful purposes was one of the most astonishing scientific and technological achievements of the 20 th century. It has benefitted medicine, security, and energy. Yet, after a few decades of rapid growth, investment in nuclear energy has stalled in many developed countries and nuclear energy now constitutes a meager 5% of global primary energy production. In the 21 st century the world faces the new challenge of drastically reducing emissions of greenhouse gases while simultaneously expanding access to energy and economic opportunity for billions of people. In the new MIT study presented here, we have examined this challenge in the electricity sector, which has been widely identified as an early candidate for deep decarbonization. In most regions, serving projected electricity load in 2050 while simultaneously reducing greenhouse gas emissions will require a mix of electrical generation assets that is different from the current system. While a variety of low- or zero-carbon technologies can be employed in various combinations, our analysis shows that excluding nuclear energy as an option may significantly increase the cost of achieving deep decarbonization targets. The least-cost portfolios in our analysis include an important share for nuclear, and the magnitude of this share grows substantially as the cost of nuclear energy drops. Despite this promise, prospects for the expansion of nuclear energy remain decidedly dim in many parts of the world. In this study, we have examined what is needed to reverse that trend. Salient findings of the study will be presented in the following five areas: • Opportunities for Nuclear Energy in the U.S. and internationally • Nuclear Power Plant Cost • Advanced Reactor Technology Evaluation • Nuclear Business Models and Policies • Nuclear Reactor Safety Regulation and Licensing

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Can Nuclear Energy Thrive in a Carbon-Constrained World? - Findings from a new MIT study -

JacopoBuongiorno

TEPCOProfessorandAssociateDepartmentHead,NuclearScienceandEngineeringDirector,CenterforAdvancedNuclearEnergySystems(CANES)

MassachusettsInstituteofTechnology(MIT)

Harnessing the power of the atomic nucleus for peaceful purposeswas one of themost astonishingscientificandtechnologicalachievementsofthe20thcentury.Ithasbenefittedmedicine,security,andenergy. Yet, after a few decades of rapid growth, investment in nuclear energy has stalled inmanydeveloped countries and nuclear energy now constitutes a meager 5% of global primary energyproduction.

In the21st century theworld faces thenewchallengeofdrastically reducingemissionsofgreenhousegaseswhilesimultaneouslyexpandingaccesstoenergyandeconomicopportunityforbillionsofpeople.InthenewMITstudypresentedhere,wehaveexaminedthischallengeintheelectricitysector,whichhas beenwidely identified as an early candidate for deep decarbonization. Inmost regions, servingprojectedelectricityloadin2050whilesimultaneouslyreducinggreenhousegasemissionswillrequireamixofelectricalgenerationassetsthatisdifferentfromthecurrentsystem.Whileavarietyoflow-orzero-carbontechnologiescanbeemployed invariouscombinations,ouranalysisshowsthatexcludingnuclear energy as an option may significantly increase the cost of achieving deep decarbonizationtargets. The least-cost portfolios in our analysis include an important share for nuclear, and themagnitudeofthissharegrowssubstantiallyasthecostofnuclearenergydrops.Despitethispromise,prospectsfortheexpansionofnuclearenergyremaindecidedlydiminmanypartsoftheworld.

Inthisstudy,wehaveexaminedwhatisneededtoreversethattrend.Salientfindingsofthestudywillbepresentedinthefollowingfiveareas:

• OpportunitiesforNuclearEnergyintheU.S.andinternationally• NuclearPowerPlantCost• AdvancedReactorTechnologyEvaluation• NuclearBusinessModelsandPolicies• NuclearReactorSafetyRegulationandLicensing

Page 2: Can Nuclear Energy Thrive in a Carbon-Constrained World ... … · Jacopo Buongiorno is the TEPCO Professor and Associate Department Head of Nuclear Science and Engineering at the

ABOUTTHESPEAKER

Jacopo Buongiorno is the TEPCO Professor and Associate Department Head of Nuclear Science andEngineering at the Massachusetts Institute of Technology (MIT), where he teaches a variety ofundergraduate and graduate courses in thermo-fluids engineering and nuclear reactor engineering.Jacopohaspublishedover80journalarticlesintheareasofreactorsafetyanddesign,two-phaseflowand heat transfer, and nanofluid technology. For his research work and his teaching atMIT he wonseveral awards, including, recently, theRuth and Joel SpiraAward (MIT, 2015), and the Landis YoungMember EngineeringAchievementAward (AmericanNuclear Society, 2011).He is theDirector of theCenterforAdvancedNuclearEnergySystems(CANES),whichisoneofeightLow-Carbon-EnergyCenters(LCEC) of theMIT Energy initiative (MITEI), aswell as theDirector of theMIT studyon the FutureofNuclearEnergy inaCarbon-ConstrainedWorld. Jacopo isaconsultant for thenuclear industry in theareaofreactorthermal-hydraulics,andamemberoftheAccreditingBoardoftheNationalAcademyofNuclear Training. He is also a member of the Naval Studies Board (National Academies of Sciences,Engineering,andMedicine), aFellowof theAmericanNuclearSociety (including serviceon its SpecialCommitteeonFukushima in2011-2012),amemberof theAmericanSocietyofMechanicalEngineers,andaparticipantintheDefenseScienceStudyGroup(2014-2015).

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Contents Publications (8-1… · JACOPO BUONGIORNO TEPCO Professor, Nuclear Science and Engineering Department Director, Center for Advanced Nuclear Energy Systems (CANES) Director,