First U.S. nuclear reactor built from scratch in decades enters commercial operation in Georgia::ATLANTA — A new reactor at a nuclear power plant in Georgia has entered commercial operation, becoming the first new American reactor built from scratch in decades.
Let it run 5 months and the money is back in.
Not really. All costs considered, nuclear is one of the most expensive energy sources.
Darn all those superfluous safety regulations. If only we could make them cheap and fast and not worry about radioactive contamination like the coal industry.
Seriously though, start enforcing adequate regulation on the other sources of life threatening power generation and watch the costs even out.
Coal isn’t the cheapest though. For new build power renewables + storage are. That is to say, the incremental cost of running a coal plant isn’t that massive, but cost to build + fuel one amortised over the lifetime is more than renewables + storage.
So yes, you can enforce “adequate regulation” and nuclear will still be the most expensive.
Yes, but nuclear scales the best, requires lower geological footprint than renuables, and is safer than fossil fuels. Price is not the only metric of value.
This is really only one facet and not even the main driver in cost. MIT did a study a few years ago looking at this (https://news.mit.edu/2020/reasons-nuclear-overruns-1118). Turns out it’s complicated.
In short, in the US, lacked of skilled labor and large scale project management are big drivers also, not just regulations.
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Yes nuclear power plants are very expensive. But the energy density is phenomenal.
Energetic armortisation is far quicker on a nuclear plant than on solar panels.
And the argument of subsidies is usually a fake one, since governments also pour millions into renewable energies.
Broken down to lifetime cost to the cost of comparable technologies, nuclear is still on the same level as solar and wind.
Since I am from Germany, and German sources might not be ideal to share, let me explain it this way: People are not stupid. They will never choose the financially unwise option, if the other one would seriously be the better one.
I see you’ve never been to the U.S.
Ok. Valid argument.
But while Germany quit nuclear power, the rest reinforced their standpoint.
Thousands of scientists from different countries all agreed upon nuclear power to be a reasonable source of energy. Even a Japan is still going forward with nuclear power. It is only Germany, which made an emotional choice, Merkel wanted to please the masses. And here we are now. Burning coal, as if we were thrown back into the industrial time, forced to use primitive methods to produce energy.
Can you find any recent analysis that supports your claim that nuclear costs are at the same level as solar?
The only one I’ve seen suggest this was from a nuclear industry lobby group, and it inflated the costs or solar by insane amounts.
In Australia this is a bit of a hot topic and all impartial estimates suggest that nuclear will not get close to renewables in any way, even taking into account storage and grid costs.
In the 10 years since this single reactor was built, one of our states has transitioned to almost 100% renewables. Wholesale costs have plummeted, but renewable projects are still profitable in the market. I was involved in a reactor project in a western nation some time ago (it’s still being completed unsurprisingly), and the lock-in wholesale price to support that project was simply extortionate. Solar generation prices are a whole magnitude smaller.
This is a German source that incorporates many studies and presents their results. Some agree with my statement, some with yours. But fact is, that the financial difference is very small.
https://www.bundestag.de/resource/blob/887090/1867659c1d4edcc0e32cb093ab073767/WD-5-005-22-pdf-data.pdf
Page 23 for example suggests my statement.
On page 32 you can see the development that suggests that you are right.
But considering the costs for the expansion of the energy grid, battery storage systems, and the rising production costs of everything, I believe Nuclear to be the cheaper option and the far more reliable one.