Energy Conversion and Management: X (Jul 2024)
Thermodynamic and economic analyses of the retrofit of existing electric power plants with fusion reactors
Abstract
Electricity generation will need to reach net zero emissions globally in 2050. This will require an increase in share of renewable energy and the implementation of a controllable carbon-free base-load source. Nuclear fusion is a promising option to decarbonize base-load electricity production but its capital cost still doubles the one of technologically more mature alternatives such as large photovoltaic fields or off-shore wind installations. Within this framework, the retrofit of a dismissed power-plant could allow significant cost savings, thus facilitating the realization of a fusion electricity demonstrator. Among fusion reactors, stellarators are a valid alternative to tokamaks thanks to the higher blanket temperature and inherent continuous operation. In this scenario, we posit the challenge to use a nuclear fusion stellarator-based reactor to retrofit conventional power plants (PPs). Specifically, we select a nuclear fission plant in France and a supercritical coal fired site in Italy, by constructing 4 different retrofit scenarios as a function of the re-used components. We compare each option with a greenfield and optimized plant with the same reactor thermal power. through a thermodynamic, economic, and investment analysis.The results proves significant savings by retrofitting an existing plant, with a CapEx reduction up to 50% compared to the greenfield plants. Specifically, the most convenient retrofit strategy is to select a site that already implements cutting edge thermodynamic parameters while reusing the most existing systems (i.e. buildings, steam cycle, electricity generation, and heat rejection). This is the case of the 2 x 660 MWe supercritical coal-fired plant in Italy. Therein, the LCOEs are 39 $/MWh and 51 $/MWh, calculated with an interest rate of 2.7% and 6%, respectively, and compare with the conventional energy technologies. Moreover, such costs are competitive in the current European energy markets and yield significant net present values at the plant end of life.
