sg:pub.10.1007/s10894-021-00306-4 - Springer Nature SciGraph

Article Info

DATE

2021-07-10

AUTHORS

Malcolm C. Handley, Daniel Slesinski, Scott C. Hsu

ABSTRACT

We examine potential early markets for fusion energy and their projected cost targets, based on analysis and synthesis of many relevant, recent studies and reports. Seeking to provide guidance to ambitious fusion developers aspiring to enable commercial deployment before 2040, we examine cost requirements for fusion-generated electricity, process heat, and hydrogen production based on today’s market prices but with various adjustments relating to possible scenarios in 2035, such as “business-as-usual,” high renewables penetration, and carbon pricing up to 100 $/tCO2\documentclass[12pt]{minimal} \usepackage{amsmath} \usepackage{wasysym} \usepackage{amsfonts} \usepackage{amssymb} \usepackage{amsbsy} \usepackage{mathrsfs} \usepackage{upgreek} \setlength{\oddsidemargin}{-69pt} \begin{document}$$\hbox {tCO}_2$$\end{document}. Key findings are that fusion developers should consider focusing initially on high-priced global electricity markets and consider including integrated thermal storage, depending on techno-economic factors, in order to maximize revenue and compete in markets with high renewables penetration. Process heat and hydrogen production will be tough early markets for fusion, but may open up to fusion as markets evolve and if fusion’s levelized cost of electricity falls below 50 $/MWhe\documentclass[12pt]{minimal} \usepackage{amsmath} \usepackage{wasysym} \usepackage{amsfonts} \usepackage{amssymb} \usepackage{amsbsy} \usepackage{mathrsfs} \usepackage{upgreek} \setlength{\oddsidemargin}{-69pt} \begin{document}$$\hbox {MWh}_{\mathrm {e}}$$\end{document}. Finally, we discuss potential ways for a fusion plant to increase revenue via cogeneration (e.g., desalination, direct air capture, or district heating) and to lower capital costs (e.g., by minimizing construction times and interest or by retrofitting coal plants). More... »

PAGES

References to SciGraph publications

2019-10-08. Retrospective of the ARPA-E ALPHA Fusion Program in JOURNAL OF FUSION ENERGY

2021-01-14. Emergency deployment of direct air capture as a response to the climate crisis in NATURE COMMUNICATIONS

2017-08-14. Catalysing a political shift from low to negative carbon in NATURE CLIMATE CHANGE

2019-07-31. Reassessing the projections of the World Water Development Report in NPJ CLEAN WATER

2015-11-16. A New Vision for Fusion Energy Research: Fusion Rocket Engines for Planetary Defense in JOURNAL OF FUSION ENERGY

Journal

TITLE

Journal of Fusion Energy

ISSUE

VOLUME

Subjects

FOR: Economics

FOR: Applied Economics

Author Affiliations

Advanced Research Projects Agency–Energy (ARPA-E), U.S. Department of Energy, DC 20585, Washington, USA

Identifiers

URI

http://scigraph.springernature.com/pub.10.1007/s10894-021-00306-4

DOI

http://dx.doi.org/10.1007/s10894-021-00306-4

DIMENSIONS

https://app.dimensions.ai/details/publication/pub.1139610656

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