The long gestation period view assumes that the development of Generation IV technology would be conducted with business as usual approaches. But if we think that the fate of human society would rest on the pace of a Generation IV development project, would a business as usual approach make sense? Alternatives would be a simi-Manhatten project model and a mini-Manhattan project approach. The difference would have to do with time scale, with the Simi-Manhattan project approach trying to bring in everything in a two to three year time range, while the mini approach might take 5 years. The mini approach might cost $20 billion, perhaps twice the cost of the business as usual approach, but at the end of the five years a saleable product, and a factory to build it would be ready.
If a Manhattan project type endeavor were undertaken, regulation would be expidited but safety not compromised. The NRC would work alongside reactor researchers, establishing reasonable safety standards, and passing them on. During the development period the NRC should determin that reactor developments are meeting all NRC safety goals. The complete design should already have an NRC license, even before the prototype is built.
In the Simi-Manhattan project alternative design approaches would be researched in parallel, while in the mini approach they might be investigated sequentially. Both would involve spending at a robust level. There are shortcuts to development including licensing sucessful technology. This might include licensing Russian BN-600 technology, Indian Fast Breeder Prototype Reactor technology, in addition too drawing on American Experimental Breeder Reactor-II (EBR-II) technology and experience. I am not a big fan of the LMFBR type, but it is probably inevitable that we are going to build some, and if we do, we might as well develop and build them fast.
According to ORNL-4812, up to 1972 ORNL had spent $130 million dollars on MSR development. In 2009 terms this was less than than one billion dollars,
In 1980 the ORNL staff estimated that a commercial DMSR could be developed for $700 million (about 2.5 billion in 2009 dollars). Given another 2.5 billion for the development of the LFTR prototype we would have a total investment of between 5 and 6 Billion 2009 dollars investment. At that point there would be a product ready to go on the assembly line. Thus the total investment in the LFTR would be comparable to the Federal investment into the LWR. It would be one fourth the investment made so far in unsuccessful American LMFBR technology.
My analysis suggests that with factory production and by recycling coal fired power plants, modular LFTRs can come online for an investment as small as a dollar a watt. Let us assume that the actual cost is twice that. We still have a price for LFTRs that is lower than the 2009 price for windmills, even with a capacity factor no better than the windmills, the LFTR would be a far better buy because of its superior flexibility.
It would be nice to imagine a private enterprice investing in the LFTR. Is it possible? $5 billion would not be unreasonable for a private business invest in LFTR development. There are American businesses that are capable of writing a$5 billion check for LFTR development today. Consider the €11 billion plus that Airbus invested in the development of the A380 aircraft. At a cost of $327 million, the A380 would be, if anything, more expensive than the modular LFTR. In fact it is doubtful that Airbus will ever recover the Airbus 380 development cost, while the LFTR potentially could be quite profitable.
Compaired to the cost of renewables.the Manhatten project approach would be an incredible bargan. For example, the German newspaper Die Zeit recently reported that the costs of photovoltaic instalations built in Germanyup to 2008
will amount to even more than 30 billion Euros.And how much electricity will German consumers get for their investment? A recent estimate reported that in 2008. German PVs produced 4,300 GWh, about half the power output of one conventional nuclear reactor. 30 billion Euros would pay the development of both Sandia's "Right Size" Reactor, a small, factory built Fast Breeder Reactor, and the the Liquid Fluoride Thorium Reactor, a very safe, factory build reactor.
Update 10/11/09 12:55 PM: David Walters, a fellow nuclear bloger, commented:
Let me suggest that we don't need the same scale as the Manhattan
project, more like the Space program that put a man on the moon.
"Manhattan poject lite" is probably more appropriate.
I
say this because almost all the theoretical work, and some of the
practical work has been done. It's not a question of inventing new
techniques, but of refining what exists. But I agree with Charles that
$5 Billion would be totally adaquate.
Secondly, looking ONE step
ahead, what we DO need is the larger, older brother of the Manhattan
Project, that is the "War Production Board (WPB)" that FDR signed into
law in 1942. The WPB converted and expanded peacetime industries to
meet war needs, allocated scarce materials vital to war production,
established priorities in the distribution of materials and services,
and prohibited nonessential production.
Again, a very "lite"
version of this would mobilize and co-ordinate, using the latest
business-to-business computer technology with clearly defined
production and deployment goals, the creation of a LFTR industry in the
U.S.
We a "LFTR Production Board" we could deploy both the LFTR
and it's cousin, the LCTR (Chloride version) and meet every imaginable
goal probably by 2035.
This is 100% a question of *politics* not technology or engineering.

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