But the LCOE is a normalized (usually to $/kwh) price that accounts for the amount of energy produced for a given capex, plus the operating costs, plus the cost of capital, plus the lifetime of the plant. It tries to bake that all in.
Your position is that LCOE will be much lower, because (as I understand you) the plant cost will scale much better than, say, 100MW natural gas plants. I totally accept that my assertion about LCOE might be wrong because it only costs 2x as much money to build a fusion plant that's 100x bigger.
The future of whether or not fusion becomes the next big thing will be watching the LCOE for fusion plants vs everything else.
It is interesting to compare fusion plants to fission plants in this regard. Fusion fuel extraction is much cheaper, fusion waste byproducts are minimal, plant failure risk and mitigation is much much cheaper (no fallout, no long live nucleotides etc), and the energy cycle produces 10 - 20x as much energy as fission.
Edit: And when things get going you can get around Carnot Efficiency by converting the high speed particles directly[1]. This experiment was built at LLNL as well and shown to actually give > 50% conversion efficiency.
You don't have to worry as much about major accidents as in fission, but the risk of minor accidents that aren't a public safety risk but are a risk of ruining the plant is arguably much larger. A fusion reactor puts a large, very complicated thing, with many non-redundant parts, into a hot zone where hands on repair is impossible.
The lesson of TMI is that even if the public is unharmed, an accident that destroys a multibillion dollar investment is ruinous for a utility.
Absolutely agree. We don't know a LOT about how these things would go together once we get past making energy. If the probability of destroying your plant was such that the lifetime expectancy was shorter than the 20 - 30 years a typical plant is expected to operate then it would definitely raise the effective cost.
Also, fusion plants have inherent diseconomy of scale, from the square-cube law. There is a limit to the energy flux through the surface of the reactor, and because of that the volumetric power density of the reactor is inversely proportional to its linear size.
Your position is that LCOE will be much lower, because (as I understand you) the plant cost will scale much better than, say, 100MW natural gas plants. I totally accept that my assertion about LCOE might be wrong because it only costs 2x as much money to build a fusion plant that's 100x bigger.