Dispatch Optimization, System Design and Cost Benefit Analysis of a Nuclear Reactor with Molten Salt Thermal Storage

Gabriel J. Soto, Ben Lindley, Ty Neises, Cory Stansbury and Michael J. Wagner
Additional contact information
Gabriel J. Soto: Department of Engineering Physics, University of Wisconsin-Madison, 1500 Engineering Drive, Madison, WI 53706, USA
Ben Lindley: Department of Engineering Physics, University of Wisconsin-Madison, 1500 Engineering Drive, Madison, WI 53706, USA
Ty Neises: National Renewable Energy Laboratory, Thermal Systems Group, 15013 Denver West Parkway, Golden, CO 80401, USA
Cory Stansbury: Westinghouse Electric Company, Lead Fast Reactor Systems Development, 1000 Westinghouse Dr, Cranberry Township, PA 16066, USA
Michael J. Wagner: Department of Mechanical Engineering, University of Wisconsin-Madison, 1415 Engineering Drive, Madison, WI 53706, USA

Energies, 2022, vol. 15, issue 10, 1-23

Abstract: Variable renewable energy availability has increased the volatility in energy prices in most markets. Nuclear power plants, with a large ratio of capital to variable costs, have historically operated as base load energy suppliers but the need for more flexible operation is increasing. We simulate the techno-economic performance of a 950 MW t nuclear power plant, based on the Westinghouse lead-cooled fast reactor, coupled with molten salt thermal storage as a method for flexible energy dispatch. We use the System Advisor Model to model the nuclear reactor thermal power input and power cycle operating modes. We combine this robust engineering model with a mixed-integer linear program model for optimized dispatch scheduling. We then simulate the coupled nuclear and thermal storage system under different market scenarios with varying price volatility. We find that the coupled plant outperforms the base plant under markets where energy price peaks fluctuate by a factor of two or more about the mean price. We show that a calculated power purchase agreement price for the plant improves by up to 10% when operating under California energy market conditions. Sensitivity analysis on the thermal storage cost shows that the optimal design remains unchanged even when doubling costs.

Keywords: advanced nuclear; lead-cooled fast reactor; molten salt; thermal energy storage; dispatch optimization; System Advisor Model (search for similar items in EconPapers)
JEL-codes: Q Q0 Q4 Q40 Q41 Q42 Q43 Q47 Q48 Q49 (search for similar items in EconPapers)
Date: 2022
References: View references in EconPapers View complete reference list from CitEc
Citations: View citations in EconPapers (2)

Downloads: (external link)
https://www.mdpi.com/1996-1073/15/10/3599/pdf (application/pdf)
https://www.mdpi.com/1996-1073/15/10/3599/ (text/html)

Related works:
This item may be available elsewhere in EconPapers: Search for items with the same title.

Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text

Persistent link: https://EconPapers.repec.org/RePEc:gam:jeners:v:15:y:2022:i:10:p:3599-:d:815595

Access Statistics for this article

Energies is currently edited by Ms. Agatha Cao

More articles in Energies from MDPI
Bibliographic data for series maintained by MDPI Indexing Manager ().