Identifying Nuclear Cost Targets for Competitive Maritime Decarbonization
The shipping industry contributes to a substantial quantity of global carbon emissions. Reaching a “Net-Zero World” will ultimately require complete decarbonization of the existing fleet. Nuclear energy may provide a viable solution toward this end goal. To better understand the economic dynamics of relying on nuclear energy to power maritime fleets, cost targets were identified in this study. Two use cases were considered: (1) nuclear energy is used to generate synthetic fuel (termed synfuel) to power maritime propulsion, and (2) nuclear reactors for vessel propulsion. The study found that in both cases realistic cost targets for nuclear reactor costs could be reached. However, option 2 was deemed to be much more competitive overall but with higher technical risks.