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Economic potential of fuel recycling options: A lifecycle cost analysis of future nuclear system transition in China

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  • Gao, Ruxing
  • Choi, Sungyeol
  • Il Ko, Won
  • Kim, Sungki

Abstract

In today's profit-driven market, how best to pursue advanced nuclear fuel cycle technologies while maintaining the cost competitiveness of nuclear electricity is of crucial importance to determine the implementation of spent fuel reprocessing and recycling in China. In this study, a comprehensive techno-economic analysis is undertaken to evaluate the economic feasibility of ongoing national projects and the technical compatibility with China's future fuel cycle transition. We investigated the dynamic impacts of technical and economic uncertainties in the lifecycle of a nuclear system. The electricity generation costs associated with four potential fuel cycle transition scenarios were simulated by probabilistic and deterministic approaches and then compared in detail. The results showed that the total cost of a once-through system is lowest compared those of other advanced systems involving reprocessing and recycling. However, thanks to the consequential uncertainties caused by the further progress toward technology maturity, the economic potential of fuel recycling options was proven through a probabilistic uncertainty analysis. Furthermore, it is recommended that a compulsory executive of closed fuel cycle policy would pose some investment risk in the near term, though the execution of a series of R&D initiatives with a flexible roadmap would be valuable in the long run.

Suggested Citation

  • Gao, Ruxing & Choi, Sungyeol & Il Ko, Won & Kim, Sungki, 2017. "Economic potential of fuel recycling options: A lifecycle cost analysis of future nuclear system transition in China," Energy Policy, Elsevier, vol. 101(C), pages 526-536.
    • Handle: RePEc:eee:enepol:v:101:y:2017:i:c:p:526-536
    DOI: 10.1016/j.enpol.2016.10.021
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    Citations

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    Cited by:

    1. Bader Alshuraiaan & Sergey Pushkin & Anastasia Kurilova & Magdalena Mazur, 2021. "Management of the Energy and Economic Potential of Nuclear Waste Use," Energies, MDPI, vol. 14(12), pages 1-14, June.
    2. Dungan, K. & Gregg, R.W.H. & Morris, K. & Livens, F.R. & Butler, G., 2021. "Assessment of the disposability of radioactive waste inventories for a range of nuclear fuel cycles: Inventory and evolution over time," Energy, Elsevier, vol. 221(C).
    3. Robin Taylor & William Bodel & Gregg Butler, 2022. "A Review of Environmental and Economic Implications of Closing the Nuclear Fuel Cycle—Part Two: Economic Impacts," Energies, MDPI, vol. 15(7), pages 1-31, March.
    4. Ruxing Gao & Hyo On Nam & Won Il Ko & Hong Jang, 2017. "National Options for a Sustainable Nuclear Energy System: MCDM Evaluation Using an Improved Integrated Weighting Approach," Energies, MDPI, vol. 10(12), pages 1-24, December.
    5. Gao, Ruxing & Nam, Hyo On & Ko, Won Il & Jang, Hong, 2018. "Integrated system evaluation of nuclear fuel cycle options in China combined with an analytical MCDM framework," Energy Policy, Elsevier, vol. 114(C), pages 221-233.
    6. Yan Xu & Junjie Kang & Jiahai Yuan, 2018. "The Prospective of Nuclear Power in China," Sustainability, MDPI, vol. 10(6), pages 1-21, June.

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