Study of Storage Requirements and Costs for Shaping Renewables and Nuclear Energy (FY23 Summary Report)

Abstract

To decarbonize electricity generation primarily by using wind and solar resources, it is likely that additional low (or zero) carbon dioxide (CO2) alternatives will be required for ensuring a reliable electricity supply. This study extends the work and modeling framework that we consolidated in FY 2022, by assessing the zero-CO2 pathways of a Texas power system in which the availability of variable renewable energy (VRE), nuclear energy, and energy storage types (i.e., battery and thermal energy storage [TES]) are considered the sole resources available for expansion.Using the Risk Analysis Virtual Environment (RAVEN) and Holistic Energy Resource Optimization Network (HERON) frameworks, this study investigates the market of two nuclear energy technologies (i.e., large light-water reactors [LWRs] and LWR-type small modular reactors [SMRs]) under two plausible storage coupling scenarios (i.e., electric coupling and direct thermal coupling). We also explore optimal environments for nuclear energy deployment, and identify key performance characteristics that make nuclear energy economically viable in areas with significant intermittent energy sources.Our analysis encompasses 24 cases. We model the least-cost grid systems, highlight the potential for a coupled LWR-TES approach, and utilize SMRs to achieve deep decarbonization in an affordable, technically feasible manner. We also examine seasonal variations in balancing electricity supply and demand, and account for varying performance, costs, and grid constraints. Overall, the findings of our modeling afford valuable insights for supporting future technology