A new report unveiled by the Australian Academy of Technological Sciences and Engineering (ATSE) paints a cautious picture of the potential for small modular nuclear reactors (SMRs) to play a significant role in Australia’s future energy landscape. The report, released today, underscores the infancy of global SMR development, projecting a viable market may not materialize until the late 2040s.
Currently, the global landscape for SMRs remains nascent and unproven. Reliable, publicly verifiable data on operational full-scale prototype SMRs is sparse, leaving considerable technical and financial uncertainties in their wake. Dr. Katherine Woodthorpe AO FTSE, President of ATSE, acknowledges the allure of SMRs as a low-carbon energy source compatible with Australia’s electricity needs but stresses the inherent risks.
“From a technology and engineering standpoint, SMRs hold promise for Australia’s energy future,” Dr. Woodthorpe commented. “However, their commercial viability and broader benefits are shrouded in uncertainty, given the associated timelines, costs, regulatory hurdles, and societal acceptance challenges.”
ATSE’s report identifies two distinct paths Australia could take in navigating the SMR frontier. The first, a cautious approach, suggests delaying involvement until multiple SMR models have been proven and operational in other OECD countries—a strategy aimed at mitigating risk and ensuring technological maturity before adoption. The alternative, more daring route involves early engagement in the pre-mature market phase, albeit at potentially higher financial and technical risk.
Central to either strategy is the need for significant groundwork. Australia currently maintains federal and state moratoria on nuclear power, necessitating their revision for any nuclear energy industry to take root. Additionally, establishing a national nuclear regulatory framework and cultivating a skilled workforce are deemed imperative prerequisites. Equally critical is fostering broad public acceptance of nuclear technology throughout its lifecycle—an uphill battle in a nation historically cautious of nuclear power.
“SMRs represent a high-risk proposition amidst Australia’s existing energy options,” Dr. Woodthorpe cautioned. “They require a robust, non-partisan evaluation of readiness and long-term role within our energy mix. However, we must not lose sight of readily deployable renewable technologies available today.”
ATSE advocates for a technology-neutral approach to Australia’s energy transition, advocating that all potential solutions, including SMRs, be evaluated strictly on their merits. The report underscores the urgency of expanding renewable energy deployment while simultaneously conducting thorough, unbiased assessments of emerging technologies like SMRs.
As Australia grapples with the complexities of its future energy strategy, the debate over SMRs is poised to intensify. With significant milestones potentially decades away, the nation faces a critical juncture in balancing energy security, environmental stewardship, and technological innovation. The path forward will demand careful navigation of regulatory, economic, and societal landscapes, ensuring Australia remains at the forefront of sustainable energy solutions for generations to come.
