John Gorman is the president and chief executive officer of the Canadian Nuclear Association.
To many Canadians, it may not seem like a big deal that the three provinces that have nuclear sectors – Ontario, New Brunswick and Saskatchewan – signed an agreement to develop small modular reactors (SMRs). But this milestone represents a giant leap forward for Canadian industry and the fight against climate change.
I’m new to the nuclear industry, but I’ve been working in the energy sector for 20 years. I’ve seen new technologies revolutionize how we produce and manage electricity. The development and deployment of SMRs has the potential to be even more transformative than the introduction of wind and solar power.
Why am I and others in the energy sector so excited about SMRs? The answer is in their name. First, they are small. Large reactors are powerful: They generate clean and inexpensive electricity for decades. But they take years to build, they are suitable only for large demand and they can’t be moved. SMRs, on the other hand, are like solar power in that they can be scaled to suit local needs.
SMRs are also modular, meaning they can be mass-produced and shipped to remote locations. A small city could use an SMR until it reaches capacity, then add another as the city grows. A mine could use an SMR to help with its peak production, then ship it to a new location when operations slow down.
The modular approach will also help to reduce costs. A new advanced reactor could cost more than $1-billion, but mass production removes duplication of the costs of licensing and customization. Bulk purchasing of parts and replication of skills would reduce costs further. In short, the upfront investment will be big, while the payoff in terms of inexpensive energy will last decades.