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

Author(s)
Gao. RuxingChoi, SungyeolKo, Won IlKim, Sungki
Issued Date
2017-02
DOI
10.1016/j.enpol.2016.10.021
URI
https://scholarworks.unist.ac.kr/handle/201301/21218
Fulltext
http://www.sciencedirect.com/science/article/pii/S0301421516305663
Citation
ENERGY POLICY, v.101, pp.526 - 536
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.
Publisher
ELSEVIER SCI LTD
ISSN
0301-4215
Keyword (Author)
Levelized costFuel cycle transitionProbabilistic approachSpent nuclear fuel management

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