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Nuclear reactors' construction costs: The role of lead-time, standardization and technological progress

机译：核反应堆的建设成本：交货时间，标准化和技术进步的作用

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This paper provides an econometric analysis of nuclear reactor construction costs in France and the United States based on overnight costs data. We build a simultaneous system of equations for overnight costs and construction time (lead-time) to control for endogeneity, using change in expected electricity demand as instrument We argue that the construction of nuclear reactors can benefit from standardization gains through two channels. First, short term coordination benefits can arise when the diversity of nuclear reactors' designs under construction is low. Second, long term benefits can occur due to learning spillovers from past constructions of similar reactors. We find that construction costs benefit directly from learning spillovers but that these spillovers are only significant for nuclear models built by the same Architect-Engineer. In addition, we show that the standardization of nuclear reactors under construction has an indirect and positive effect on construction costs through a reduction in lead-time, the latter being one of the main drivers of construction costs. Conversely, we also explore the possibility of learning by searching and find that, contrary to other energy technologies, innovation leads to construction costs increases. (c) 2015 Elsevier Ltd. All rights reserved.
机译：本文基于隔夜成本数据，对法国和美国的核反应堆建造成本进行了计量经济学分析。我们使用预期的电力需求变化作为工具，构建了一个通宵成本和建造时间（交货期）的联立方程组，以控制内生性。我们认为，核反应堆的建造可以通过两个渠道的标准化收益而受益。首先，当正在建设的核反应堆设计的多样性低时，就会产生短期协调利益。其次，由于从类似反应堆的过去构造中学习了溢出效应，因此可以产生长期利益。我们发现，建设成本直接受益于学习溢出效应，但是这些溢出效应仅对由同一位建筑师-工程师构建的核模型非常重要。此外，我们表明，在建核反应堆的标准化通过缩短交付周期对建设成本产生了间接的积极影响，后者是建设成本的主要驱动力之一。相反，我们也通过搜索来探索学习的可能性，发现与其他能源技术相反，创新导致建筑成本增加。 （c）2015 Elsevier Ltd.保留所有权利。

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