Small modular reactors critical to Canada’s long-term economic growth

There is no doubt that Canada’s economy has long been dominated by the natural resources sector. As Canada continues to develop and adapt to future challenges, including those posed by climate change, transforming its energy mix through innovative and advanced technologies will be integral to its economic growth. Just recently, the government reiterated its commitment to achieving ambitious environmental goals, which include exceeding Canada’s 2030 Paris Agreement emissions reduction targets and achieving net-zero by 2050. According to Canadian Prime Minister Justin Trudeau, climate change is the biggest long-term threat of our generation, but it is also the greatest economic opportunity. By accelerating action to fight climate change while rebuilding a more sustainable and resilient economy, Canada will create new jobs and opportunities for Canadians while also ensuring cleaner air and water for generations to come. As Canada builds cleaner communities, there is an impending need to expand the development and supply of clean energy. This can be achieved by adopting innovation as a vehicle for Canada’s decarbonization, but we cannot rely solely on renewables like solar and wind to get us there. We need to consider a diverse mix of solutions, pairing the development of renewables with advanced nuclear if Canada is to meet its climate change goals. By adopting advanced nuclear, and specifically the deployment of advanced Small Modular Reactors (SMRs), Canada can position itself to reduce GHG emissions and achieve its net-zero ambitions, and drive energy diversification. In December 2020, Canada released its SMR Action Plan, a comprehensive strategy outlining the federal government’s commitment to enabling the development and deployment of SMRs across the country. A diverse and innovative energy system could foster self-sustainable communities that aren’t dependant on fossil fuel generation, but rather the intangibles of SMRs. In addition to providing a low-carbon energy source, SMR facilities could also be part of innovative infrastructure campuses that incorporate other critical applications needed by remote communities including water desalination, off-grid agriculture, hydrogen production, district heating, and cooling, as well as other industrial uses. Today, Canada has an estimated 300 remote communities that are facing a myriad of economic challenges including energy poverty, infrastructure reliability, and food supply issues. All these lingering issues have only become more pronounced during the COVID-19 pandemic. Many of these communities are deprived of key infrastructure while facing a less dynamic employment sector compared to urban settings. They rely heavily on fossil fuel generation for heat and power, and without an adequate supply, will find it increasingly challenging to accommodate growing populations, establish and expand businesses, and develop needed social and community infrastructure. With the added modularity and transportability of some of the world’s smaller SMR designs currently under development, northern and remote communities become an ideal market for deployment, especially if these SMRs are capable of cogeneration to produce both heat and power. In speaking to industry and government, there is no doubt that SMRs could also unlock significant innovation within the Canadian resource extraction industry, by enabling decarbonization within some of the most energy-intensive operations and potentially unlocking development in remote areas like Ontario’s Ring of Fire and other parts of Northern Canada. Specifically, mining operations could benefit from the intangibles of SMRs where the cost of fuel transportation makes power expensive and where choices for replacement of diesel generation are limited. Ultimately, SMRs could improve the competitiveness of Canadian mining operations and accelerate their transition away from diesel. As the federal government looks for opportunities to accelerate Canada’s return to economic prosperity, particularly in the wake of COVID-19, advanced nuclear and SMRs are primed to serve as a reliable source of innovation, employment, and sustainable growth. Conservative estimates place the potential value for SMRs in Canada at $5.3-billion between 2025 and 2040. SMRs have the potential for much more than helping Canada achieve its climate change goals. They have an important role to play in Canada’s economy while enabling global export opportunities for the Canadian supply chain and will spur Canada’s energy transformation while enabling energy security, energy equity, and environmental sustainability. Steve Threlfall is the general manager of U-Battery. The Hill Times

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Small modular reactors critical to Canada’s long-term economic growth

By adopting advanced nuclear, Canada can position itself to reduce GHG emissions, achieve its net-zero ambitions, and drive energy diversification.

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