Dispatch Optimization, System Design and Cost Benefit Analysis of a Nuclear Reactor with Molten Salt Thermal Storage
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 th...
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| Format: | Article |
| Language: | English |
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MDPI AG
2022-05-01
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| Series: | Energies |
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| Online Access: | https://www.mdpi.com/1996-1073/15/10/3599 |
| _version_ | 1797500186512064512 |
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| author | Gabriel J. Soto Ben Lindley Ty Neises Cory Stansbury Michael J. Wagner |
| author_facet | Gabriel J. Soto Ben Lindley Ty Neises Cory Stansbury Michael J. Wagner |
| author_sort | Gabriel J. Soto |
| collection | DOAJ |
| description | 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<inline-formula><math xmlns="http://www.w3.org/1998/Math/MathML" display="inline"><semantics><msub><mrow></mrow><mi>t</mi></msub></semantics></math></inline-formula> 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. |
| first_indexed | 2024-03-10T03:58:15Z |
| format | Article |
| id | doaj.art-a612937b45aa4dfb99acf04484068e48 |
| institution | Directory Open Access Journal |
| issn | 1996-1073 |
| language | English |
| last_indexed | 2024-03-10T03:58:15Z |
| publishDate | 2022-05-01 |
| publisher | MDPI AG |
| record_format | Article |
| series | Energies |
| spelling | doaj.art-a612937b45aa4dfb99acf04484068e482023-11-23T10:50:25ZengMDPI AGEnergies1996-10732022-05-011510359910.3390/en15103599Dispatch Optimization, System Design and Cost Benefit Analysis of a Nuclear Reactor with Molten Salt Thermal StorageGabriel J. Soto0Ben Lindley1Ty Neises2Cory Stansbury3Michael J. Wagner4Department of Engineering Physics, University of Wisconsin-Madison, 1500 Engineering Drive, Madison, WI 53706, USADepartment of Engineering Physics, University of Wisconsin-Madison, 1500 Engineering Drive, Madison, WI 53706, USANational Renewable Energy Laboratory, Thermal Systems Group, 15013 Denver West Parkway, Golden, CO 80401, USAWestinghouse Electric Company, Lead Fast Reactor Systems Development, 1000 Westinghouse Dr, Cranberry Township, PA 16066, USADepartment of Mechanical Engineering, University of Wisconsin-Madison, 1415 Engineering Drive, Madison, WI 53706, USAVariable 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<inline-formula><math xmlns="http://www.w3.org/1998/Math/MathML" display="inline"><semantics><msub><mrow></mrow><mi>t</mi></msub></semantics></math></inline-formula> 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.https://www.mdpi.com/1996-1073/15/10/3599advanced nuclearlead-cooled fast reactormolten saltthermal energy storagedispatch optimizationSystem Advisor Model |
| spellingShingle | Gabriel J. Soto Ben Lindley Ty Neises Cory Stansbury Michael J. Wagner Dispatch Optimization, System Design and Cost Benefit Analysis of a Nuclear Reactor with Molten Salt Thermal Storage Energies advanced nuclear lead-cooled fast reactor molten salt thermal energy storage dispatch optimization System Advisor Model |
| title | Dispatch Optimization, System Design and Cost Benefit Analysis of a Nuclear Reactor with Molten Salt Thermal Storage |
| title_full | Dispatch Optimization, System Design and Cost Benefit Analysis of a Nuclear Reactor with Molten Salt Thermal Storage |
| title_fullStr | Dispatch Optimization, System Design and Cost Benefit Analysis of a Nuclear Reactor with Molten Salt Thermal Storage |
| title_full_unstemmed | Dispatch Optimization, System Design and Cost Benefit Analysis of a Nuclear Reactor with Molten Salt Thermal Storage |
| title_short | Dispatch Optimization, System Design and Cost Benefit Analysis of a Nuclear Reactor with Molten Salt Thermal Storage |
| title_sort | dispatch optimization system design and cost benefit analysis of a nuclear reactor with molten salt thermal storage |
| topic | advanced nuclear lead-cooled fast reactor molten salt thermal energy storage dispatch optimization System Advisor Model |
| url | https://www.mdpi.com/1996-1073/15/10/3599 |
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