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Levi M Larsen

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Levi M Larsen

PhD Candidate
Department of Electric Energy

levi.larsen@ntnu.no
Elektro E + F Gløshaugen, Trondheim
ResearchGate Scopus Google Scholar
About Research Publications Outreach

About

CV

I am an interdisciplinary economist working at the intersection of markets, technology, and long-term energy planning. My career has included roles in economic analysis, financial modeling, and strategic consulting across several sectors, including energy, biotech, and technology. I’ve contributed to projects involving cost modeling, investment evaluation, and the development of analytical frameworks for emerging technologies.

My Phd research focuses on how energy market structures can evolve to support reliable, low-carbon power systems. By combining theoretical modeling with practical experience evaluating real-world projects, I aim to bring a systems-level perspective to questions of investment, policy design, and resource integration.

I completed my MSc in Economics at the University of Edinburgh and earned 3 bachelor’s degrees in Economics, Finance, and International Business at Utah State University. I have previously worked in industry for Idaho National Laboratory (Energy), Thermo Fisher Scientific (Biotech), Goldman Sachs (Banking), as well as my own a private consulting business.

Competencies

  • Cost Assessment
  • Economics
  • Energy Markets
  • Energy economics
  • Energy policy
  • Finance
  • Nuclear energy
  • Power market design
  • Project finance
  • Risk assessment

Research

Current Research Focus

My current research focuses on energy market design for low-carbon power systems. I specifically explore how market structures can be designed to integrate clean baseload and variable energy resources, with energy storage. Using a combination of theoretical frameworks and applied modeling, my work examines how different market mechanisms (e.g. capacity markets) influence investment incentives, operational reliability, and system-level efficiency in transitioning power markets.

Previous Research Focus

Prior to my PhD, my research centered on the economics and financial modeling of nuclear energy deployment. I led and contributed to studies on project cost drivers, learning dynamics, and investment risks across advanced reactor technologies, industrial heat applications, and maritime nuclear systems. This included developing comparative cost models, analyzing historical cost behavior, and evaluating financing mechanisms for large-scale nuclear projects.

The Link Between my Past and Present Research

Together, my previous project-level research and my current system-level work allow me to evaluate energy investment challenges from both the perspective of individual assets and the broader market structures that govern their deployment.

  • Electricity Markets and Energy System Planning – EMESP

Markets for Zero-Carbon Energy Systems

This research project focuses on market design of zero-carbon energy systems. It aims to propose market design solutions that ensure effectiveness, competition and cost recovery for key technologies in zero-carbon energy systems.

Publications

  • Chronological
  • By category
  • All publications registered in NVA

2025

  • Mukhi, Sanjay; Abou-Jaoude, Abdalla; Larsen, Levi. (2025) Configurations of Commercial Advanced Nuclear-Maritime Applications. Idaho National Laboratory Idaho National Laboratory
    Report
  • Kavur, Ahmet; Abou-Jaoude, Abdalla; Larsen, Levi; Parsons, John. (2025) A Techno-Economic Analysis of Hydrogen and Ammonia Production with a Maritime Nuclear Power Plant. Transactions of the American Nuclear Society
    Abstract
  • Biwalkar, Rohan; Talabi, Sola; Abou-Jaoude, Abdalla; Larsen, Levi. (2025) Development of the PRIME Methodology for Nuclear Reactor Cost Estimation. Transactions of the American Nuclear Society
    Abstract
  • Spangler, Ryan; Qin, Sunming; Larsen, Levi; Bolisetti, Chandu; Abou-Jaoude, Abdalla; Shirvan, Koroush. (2025) Potential Cost Reduction in New Nuclear Deployments Based on Recent AP1000 Experience. Idaho National Laboratory Idaho National Laboratory
    Report
  • Larsen, Levi M.; Kim, Jisuk; Richards, Scott; Kim, Taek K.; Davidson, Eva; Asgari, Mehdi. (2025) Infrastructure and resource development needs to support a significant expansion of US nuclear capacity. Energy Strategy Reviews
    Academic article

2024

  • Lawrence, Svetlana; Larsen, Levi; Joseck, Frederick; Price, Jason; Chester, Matt. (2024) Decoding the IRA's Unlocking of Nuclear Uprating and Hydrogen Cogeneration.
    Other
  • Larsen, Levi; Lefler, Kelly; Cullen, Greg; Nichols, Emily; Goodson, Stephen. (2024) The Economics of Nuclear Power.
    Other presentation
  • Baranwal, Rita; Larsen, Levi; Stewart, Robb; Taj, Sarfraz; Macdonald, Ruaridh. (2024) From reactor to reality: Timelines and opportunities to decarbonize with nuclear energy.
    Other presentation
  • Larsen, Levi. (2024) Reducing Costs and Improving the Economics of Nuclear Power Generation.
    Other presentation
  • Lantgios, Iza; Larsen, Levi. (2024) The Potential for Coupling Direct Air Capture with Nuclear Power Plant Uprate. Pacific Basin Nuclear Conference
    Abstract
  • Larsen, Levi; Abou-Jaoude, Abdalla; Guaita, Nahuel; Stauff, Nicolas. (2024) Nuclear Energy Cost Estimates for Net Zero World Initiative. Idaho National Laboratory Idaho National Laboratory
    Report
  • Larsen, Levi; Lantgios, Iza; Gonzales, Ronald; Joseck, Frederick; Lawrence, Svetlana. (2024) Light Water Reactor Sustainability Program: Technical and Economic Considerations for Uprate of Existing Nuclear Reactors with Cogeneration. Idaho National Laboratory Idaho National Laboratory
    Report
  • Bolisetti, Chandrakanth; Hanna, Botros; Abou-Jaoude, Abdalla; Larsen, Levi; Zhou, Jia; Shirvan, Koroush. (2024) Quantifying Cost Reduction Pathways for Advanced Nuclear Reactors. Transactions of the American Nuclear Society
    Abstract
  • Larsen, Levi; Lantgios, Iza; Gonzales, Ronald; Federline, Eric. (2024) Uprating for Clean Hydrogen: Nuclear Energy’s Role in Advancing a Hydrogen Economy in the Status Quo. Pacific Basin Nuclear Conference
    Abstract
  • Guaita, Nahuel; Abou-Jaoude, Abdalla; Larsen, Levi; Stauff, Nicolas. (2024) Updating Nuclear Energy Cost Estimates for Net Zero World Initiative. Pacific Basin Nuclear Conference
    Abstract
  • Bryan, Haydn; Larsen, Levi; Culler, Megan j; Oncken, Joe E. (2024) Remote Nuclear Power Plant Operation: Navigating the Opportunities and Challenges in Public Perception. Pacific Basin Nuclear Conference
    Abstract
  • Larsen, Levi; Abou-Jaude, Abdalla; Mukhi, Sanjay; Dowling, Meg. (2024) Identifying Nuclear Cost Targets for Competitive Maritime Decarbonization. Pacific Basin Nuclear Conference
    Abstract
  • Larsen, Levi; Guaita, Nahuel; Lantgios, Iza; Jaoude, Abdalla Abou; Stauff, Nicolas; Zhou, Jia. (2024) Nuclear Energy Cost Estimates for Net Zero World Initiative – 2024 Update. Idaho National Laboratory Idaho National Laboratory
    Report
  • Jenson, Will; Larsen, Levi; Asgari, Mehdi; Davidson, Eva. (2024) Quantifying Socioeconomic Impacts of Electricity Generating Technologies. Idaho National Laboratory Idaho National Laboratory
    Report
  • Bolisetti, Chandrakanth; Jaoude, Abdalla Abou; Hanna, Botros Bishara; Larsen, Levi; Zhou, Jia; Shirvan, Koroush. (2024) Quantifying Capital Cost Reduction Pathways for Advanced Nuclear Reactors. Idaho National Laboratory Idaho National Laboratory
    Report
  • Abou-Jaoude, Abdalla; Larsen, Levi; Guaita, Nahuel; Trivedi, Ishita; Joseck, Frederick; Lohse, Christopher. (2024) Meta-Analysis of Advanced Nuclear Reactor Cost Estimations. Idaho National Laboratory Idaho National Laboratory
    Report
  • Larsen, Levi; Biegel, Kathryn; Guaita, Nahuel; Foss, Andrew. (2024) Effects of the U.S. inflation reduction act on SMR economics. Frontiers in Nuclear Engineering
    Academic article

2023

  • Larsen, Levi; Lawrence, Svetlana; Josek, Fredrick; Choi, Yong-Joon; Wendt, Daniel; Greschuk, Matt. (2023) Assessing the Impact of the Inflation Reduction Act on Nuclear Plant Power Uprate and Hydrogen Cogeneration. Idaho National Laboratory Idaho National Laboratory
    Report
  • Abou-Jaoude, Abdalla; Lin, Linyu; Bolisetti, Chandrakanth; Worsham, Elizabeth; Larsen, Levi; Epiney, Aaron. (2023) Literature Review of Advanced Reactor Cost Estimates. Idaho National Laboratory Idaho National Laboratory
    Report
  • Root, Samuel; Knighton, L.; Cheng, Wen-Chi; Larsen, Levi; Sweeney, Kathleen; Boardman, Richard. (2023) Comparison of Energy Storage and Arbitrage Options for Nuclear Power. Idaho National Laboratory Idaho National Laboratory
    Report
  • D, Boardman, Richard; C, Bryan, Haydn; Byung-Hee, Choi,; Alejandra, Herrera de Reyes, Maria; Todd, Knighton,; Larsen, Levi. (2023) Nuclear-Driven Chemical Conversion Pathways (S&T Accomplishment Report) | OSTI.GOV. Idaho National Laboratory Idaho National Laboratory
    Report

2021

  • Larsen, Levi. (2021) Competitive Giants: How Large Credit Unions Impact Loan Pricing in the U.S. University of Edinburgh University of Edinburgh
    Masters thesis
  • Dryden, W. Aaron; Larsen, Levi; Britt, David W.; Smith, Mark Thomas. (2021) Technical and economic considerations of cell culture harvest and clarification technologies. Biochemical engineering journal
    Academic article

Journal publications

  • Kavur, Ahmet; Abou-Jaoude, Abdalla; Larsen, Levi; Parsons, John. (2025) A Techno-Economic Analysis of Hydrogen and Ammonia Production with a Maritime Nuclear Power Plant. Transactions of the American Nuclear Society
    Abstract
  • Biwalkar, Rohan; Talabi, Sola; Abou-Jaoude, Abdalla; Larsen, Levi. (2025) Development of the PRIME Methodology for Nuclear Reactor Cost Estimation. Transactions of the American Nuclear Society
    Abstract
  • Larsen, Levi M.; Kim, Jisuk; Richards, Scott; Kim, Taek K.; Davidson, Eva; Asgari, Mehdi. (2025) Infrastructure and resource development needs to support a significant expansion of US nuclear capacity. Energy Strategy Reviews
    Academic article
  • Lantgios, Iza; Larsen, Levi. (2024) The Potential for Coupling Direct Air Capture with Nuclear Power Plant Uprate. Pacific Basin Nuclear Conference
    Abstract
  • Bolisetti, Chandrakanth; Hanna, Botros; Abou-Jaoude, Abdalla; Larsen, Levi; Zhou, Jia; Shirvan, Koroush. (2024) Quantifying Cost Reduction Pathways for Advanced Nuclear Reactors. Transactions of the American Nuclear Society
    Abstract
  • Larsen, Levi; Lantgios, Iza; Gonzales, Ronald; Federline, Eric. (2024) Uprating for Clean Hydrogen: Nuclear Energy’s Role in Advancing a Hydrogen Economy in the Status Quo. Pacific Basin Nuclear Conference
    Abstract
  • Guaita, Nahuel; Abou-Jaoude, Abdalla; Larsen, Levi; Stauff, Nicolas. (2024) Updating Nuclear Energy Cost Estimates for Net Zero World Initiative. Pacific Basin Nuclear Conference
    Abstract
  • Bryan, Haydn; Larsen, Levi; Culler, Megan j; Oncken, Joe E. (2024) Remote Nuclear Power Plant Operation: Navigating the Opportunities and Challenges in Public Perception. Pacific Basin Nuclear Conference
    Abstract
  • Larsen, Levi; Abou-Jaude, Abdalla; Mukhi, Sanjay; Dowling, Meg. (2024) Identifying Nuclear Cost Targets for Competitive Maritime Decarbonization. Pacific Basin Nuclear Conference
    Abstract
  • Larsen, Levi; Biegel, Kathryn; Guaita, Nahuel; Foss, Andrew. (2024) Effects of the U.S. inflation reduction act on SMR economics. Frontiers in Nuclear Engineering
    Academic article
  • Dryden, W. Aaron; Larsen, Levi; Britt, David W.; Smith, Mark Thomas. (2021) Technical and economic considerations of cell culture harvest and clarification technologies. Biochemical engineering journal
    Academic article

Part of book/report

  • Lawrence, Svetlana; Larsen, Levi; Joseck, Frederick; Price, Jason; Chester, Matt. (2024) Decoding the IRA's Unlocking of Nuclear Uprating and Hydrogen Cogeneration.
    Other

Report

  • Mukhi, Sanjay; Abou-Jaoude, Abdalla; Larsen, Levi. (2025) Configurations of Commercial Advanced Nuclear-Maritime Applications. Idaho National Laboratory Idaho National Laboratory
    Report
  • Spangler, Ryan; Qin, Sunming; Larsen, Levi; Bolisetti, Chandu; Abou-Jaoude, Abdalla; Shirvan, Koroush. (2025) Potential Cost Reduction in New Nuclear Deployments Based on Recent AP1000 Experience. Idaho National Laboratory Idaho National Laboratory
    Report
  • Larsen, Levi; Abou-Jaoude, Abdalla; Guaita, Nahuel; Stauff, Nicolas. (2024) Nuclear Energy Cost Estimates for Net Zero World Initiative. Idaho National Laboratory Idaho National Laboratory
    Report
  • Larsen, Levi; Lantgios, Iza; Gonzales, Ronald; Joseck, Frederick; Lawrence, Svetlana. (2024) Light Water Reactor Sustainability Program: Technical and Economic Considerations for Uprate of Existing Nuclear Reactors with Cogeneration. Idaho National Laboratory Idaho National Laboratory
    Report
  • Larsen, Levi; Guaita, Nahuel; Lantgios, Iza; Jaoude, Abdalla Abou; Stauff, Nicolas; Zhou, Jia. (2024) Nuclear Energy Cost Estimates for Net Zero World Initiative – 2024 Update. Idaho National Laboratory Idaho National Laboratory
    Report
  • Jenson, Will; Larsen, Levi; Asgari, Mehdi; Davidson, Eva. (2024) Quantifying Socioeconomic Impacts of Electricity Generating Technologies. Idaho National Laboratory Idaho National Laboratory
    Report
  • Bolisetti, Chandrakanth; Jaoude, Abdalla Abou; Hanna, Botros Bishara; Larsen, Levi; Zhou, Jia; Shirvan, Koroush. (2024) Quantifying Capital Cost Reduction Pathways for Advanced Nuclear Reactors. Idaho National Laboratory Idaho National Laboratory
    Report
  • Abou-Jaoude, Abdalla; Larsen, Levi; Guaita, Nahuel; Trivedi, Ishita; Joseck, Frederick; Lohse, Christopher. (2024) Meta-Analysis of Advanced Nuclear Reactor Cost Estimations. Idaho National Laboratory Idaho National Laboratory
    Report
  • Larsen, Levi; Lawrence, Svetlana; Josek, Fredrick; Choi, Yong-Joon; Wendt, Daniel; Greschuk, Matt. (2023) Assessing the Impact of the Inflation Reduction Act on Nuclear Plant Power Uprate and Hydrogen Cogeneration. Idaho National Laboratory Idaho National Laboratory
    Report
  • Abou-Jaoude, Abdalla; Lin, Linyu; Bolisetti, Chandrakanth; Worsham, Elizabeth; Larsen, Levi; Epiney, Aaron. (2023) Literature Review of Advanced Reactor Cost Estimates. Idaho National Laboratory Idaho National Laboratory
    Report
  • Root, Samuel; Knighton, L.; Cheng, Wen-Chi; Larsen, Levi; Sweeney, Kathleen; Boardman, Richard. (2023) Comparison of Energy Storage and Arbitrage Options for Nuclear Power. Idaho National Laboratory Idaho National Laboratory
    Report
  • D, Boardman, Richard; C, Bryan, Haydn; Byung-Hee, Choi,; Alejandra, Herrera de Reyes, Maria; Todd, Knighton,; Larsen, Levi. (2023) Nuclear-Driven Chemical Conversion Pathways (S&T Accomplishment Report) | OSTI.GOV. Idaho National Laboratory Idaho National Laboratory
    Report
  • Larsen, Levi. (2021) Competitive Giants: How Large Credit Unions Impact Loan Pricing in the U.S. University of Edinburgh University of Edinburgh
    Masters thesis

UTSTILLING

  • Larsen, Levi; Lefler, Kelly; Cullen, Greg; Nichols, Emily; Goodson, Stephen. (2024) The Economics of Nuclear Power.
    Other presentation
  • Baranwal, Rita; Larsen, Levi; Stewart, Robb; Taj, Sarfraz; Macdonald, Ruaridh. (2024) From reactor to reality: Timelines and opportunities to decarbonize with nuclear energy.
    Other presentation
  • Larsen, Levi. (2024) Reducing Costs and Improving the Economics of Nuclear Power Generation.
    Other presentation

Outreach

2025

  • Lecture
    Larsen, Levi. (2025) Unlocking the Potential of Nuclear Energy: Impacts of Cost Reduction Strategies and Govt Intervention. NTNU Energy Transition Week , Trondheim 2025-03-30 - 2025-04-03
  • Lecture
    Larsen, Levi. (2025) Economics of Advanced Nuclear. NE States Advanced Nuclear Virtual Workshop 2024-12-31 -

2024

  • Lecture
    Larsen, Levi. (2024) Modeling Nuclear Energy Technoeconomics and Pathways to Cost Reductions. NEI Advanced Reactor Forum , Washington, DC 2023-12-31 -
  • Lecture
    Larsen, Levi. (2024) Updates to Small Modular Reactor Cost Estimation. International Atomic Energy Agency, Small Modular Reactor Workshop , Idaho Falls, Idaho 2023-12-31 -

2023

  • Lecture
    Lefrère, Chris; Larsen, Levi; Rizea, Lavinia; Serin, Canet. (2023) Hydrogen from Nuclear Power: Technology Perpectives. Hydrogen from Nuclear Power: Technology Perpectives 2023-09-11 -

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