Economic Evaluation of Different Technologies for Electricity Generation
Using INPRO Methodology

An efficient, resilient, and capable energy supply is an important requisite for sustainable development. Nuclear energy can play an indispensable role in sustainable energy and support attaining carbon neutrality. The International Project on Innovative Nuclear Reactors and Fuel Cycles (INPRO), established in 2001, ensures nuclear energy is available to contribute to meeting the energy needs of the 21st century and beyond in a sustainable manner. INPRO integrates important aspects of nuclear energy sustainability in six topical areas: environment, safety, proliferation resistance, waste management, infrastructure, and economics. INPRO nuclear energy system assessment (NESA) helps identify gaps in sustainability in existing or planned nuclear energy systems. In the area of economics, INPRO developed the NESA economics support tool (NEST), which supports assessments in the economics area by calculating the levelized unit of energy cost (LUEC), return of investment (ROI), internal rate of return (IRR), and net present value (NPV). The NEST supports an analysis on economic competitiveness of innovative nuclear technology, with classic technologies based on fossil fuels, and renewable energy technologies with solar or wind for electricity generation. This economic analysis compared LUEC and other financial merits for six power plants using different technologies. The result shows that nuclear technology has a relatively lower LUEC and higher financial merits, especially for fast breeder reactors (FBR). The LUEC for solar and wind technologies is the highest, followed by the fossil fuel technology. The results confirmed the advantage of nuclear technology in the area of economics. This analysis aligns with other international studies, such as the United Nations Carbon Neutrality Project. This study is also useful for Member States in developing policy frameworks and long-term strategies for sustainable energy.