INCAS (INtegrated model for Competitiveness Assessment of SMRs) is a simulation code developed by POLIMI, to evaluate the economic and financial profitability of the staggered deployment of SMR modules, in comparison with Large Reactor (LR) economics.
Several features envisaged for SMRs construction and deployment are taken into account, usually involving multiple units, shop fabrication, modularisation, standardisation, design simplification.
The resulting economic disadvantage for SMRs is reduced with respect to LR and the economy of scale law, by means of the “economy of multiples“.
The “Self-financing” strategy during SMR modules’ construction is implemented in INCAS code.
The staggered schedule in SMRs deployment allows the utility to exploit the cash flows originating by the already built and operating modules to support the construction of other SMR modules.
That positive financial and economic benefit is taken into account.
INCAS code allows to simulate deterministic and stochastic parameters, affecting deployment scenarios.
As an example, delays in the deployment schedule may be considered, both for LR and SMRs.
The profitability of the different deployment startegies is calculated, thus allowing a comparison between LR and SMRs.
INCAS code evaluates key economical and financial parameters (IRR-Internal Rate of Return, NPV-Net Present Value, PBT-Pay Back Time, LUEC-Levelised Unit Electricity Cost, etc.)
A top-down approachestimation is implemented (i.e. the capital, fuel, O&M and other deployment costs are evaluated according to scale laws, taking the corresponding LR costs as a reference)
Main Publications on SMRs’ economics and on INCAS applications
Main publications:
Ch.10 “Economics and financing of small modular reactors (SMRs)”, S. Boarin, M. Mancini, M. Ricotti, G. Locatelli, in Handbook of Small Modular Nuclear Reactors, 1st Ed., Woodhead Publ., ISBN 9780857098511 (2014)
“An Evaluation of SMR Economic Attractiveness”, S. Boarin, M.E. Ricotti, SCIENCE & TECHNOLOGY OF NUCLEAR INSTALLATIONS, Vol. 2014, Article ID 803698 (Open Access)
“Open Model for the Evaluation of Economic Attractiveness of Small and Medium Sized Reactors”, in IAEA Nuclear Energy Series, NP-T-3.7, Approaches for Assessing the Economic Competitiveness of Small and Medium Sized Reactors, IAEA (2013)
“Financial case studies on Small- and Medium-size Modular Reactors”, S. Boarin, G. Locatelli, M. Mancini, M.E. Ricotti, NUCLEAR TECHNOLOGY, vol. 178, p. 218-232 (2012)
“Investment in different sized SMRs: economic evaluation of stochastic scenarios by INCAS code”, S. Barenghi, S. Boarin , M.E. Ricotti, ICAPP Int. Conf., Chicago (USA), 24/6/2012, p. 2783-2792, ANS Ed.
“The role of the reactor size for an investment in the nuclear sector: an evaluation of not-financial parameters”, G. Locatelli, M. Mancini, PROGRESS IN NUCLEAR ENERGY, Vol. 53, Issue 2, p. 212-222 (2011)
“Small–medium sized nuclear coal and gas power plant: a probabilistic analysis of their financial performances and influence of CO2 cost”, G. Locatelli, M. Mancini, ENERGY POLICY, vol. 38, p. 6360–6374 (2010)
“Economic features of integral, modular, small-to-medium size reactors”, M.D. Carelli, P. Garrone, G. Locatelli, M. Mancini, C. Mycoff, P. Trucco, M.E. Ricotti, PROGRESS IN NUCLEAR ENERGY, pp.403-414, vol.52, 4 (2010)
INCAS ver.2.0beta
We are working to generate a new version of INCAS. A free copy of INCAS software ver.2.0beta will be soon made available for Universities, Researche Centers and other Institutional Organisations (e.g. National Authorities and Agencies), for R&D purposes.
We will ask your Organisation to sign – at the due level – a collaboration agreement with POLIMI, Dept. of Energy (to which the NRGroup belongs – e.g. the agreement is usually signed by the Head of the Department or equivalent, or by the Professor leading the R&D group interested in the activity).
.: INCAS brochure
.: INCAS Manual ver 2.0beta
Please contact us: send your kind request to ≡email
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