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The FuTure oF nuclear Fuel cycle - MIT Energy Initiative

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Figure 3a.3 relative uranium Cost vs. normalized Cumulative <strong>nuclear</strong> energy Generation<br />

5<br />

4<br />

relative cost of uranium (year 2005 constant $) (c,$/kg)/100<br />

3<br />

2<br />

1<br />

rBI<br />

rBu<br />

85%<br />

50%<br />

15%<br />

0.5<br />

G1<br />

▶<br />

1 2 3 4 5 6 7 8 9 10 20 30 40 50<br />

G,cumulative GWe-yr of <strong>nuclear</strong> electricity<br />

@ 200 MT unat per Full Power GWe-yr (divided by 10 4 )<br />

G5<br />

▶<br />

G10<br />

▶<br />

Figure Key<br />

lines Plot<br />

C, $/kgU G, GWe - yr<br />

; E = ;<br />

4 E<br />

100 10<br />

i<br />

θ = −0.10 for 15% cPdF Percentile, optimistic choice<br />

θ = 0.11 for 50% cPdF Percentile, Median case<br />

θ = 0.29 for 85% cPdF Percentile, conservative choice<br />

where<br />

G1 = 100 years at today’s rate of uranium consumption and electric generation<br />

G5 = 100 years at 5 × today’s rate (equivalent to 2.7%/yr exponential growth)<br />

G10 = 100 years at 10 × today’s rate (equivalent to 3.6%/yr exponential growth)<br />

also: rBI = 2007 red Book, Identified, < 130 $/kg<br />

rBu = rBI + undiscovered, < 130 $/kg<br />

BaSe year point @ [1,1] is 2005: 100 $/kg & 10 4 GWe-yr<br />

appendix to chapter 3: Formulation of cost/cumulative resource elasticity Model 147

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