Antinuclear

September 28, 2020 by Michael Bloch The WNISR2020 report released late last week indicates nuclear energy is continuing to lose ground to wind and solar power.

The report notes investment in new nuclear is around 10 percent of that invested in wind and solar PV, and the high capital cost of nuclear power plants require they operate almost continually to reduce the capital cost per kilowatt-hour.

“They must therefore compete directly with renewables most of the time or store their output to be used during cloudy, windless periods,” state the forward. “Storage does not relieve the competition with wind and solar, however, because, as renewables expand and storage costs come down, they too will have increasing incentives to store their excess output.”

Over the last five years, the levelised cost of energy (LCOE) of nuclear has risen by over 50 percent, while renewables have now become the cheapest of any type of power generation. The report says nuclear power has become the most expensive form of generation, except for gas peaking plants.

What About Small Module Reactors?

Small Modular Reactors (SMRs) have received a lot of attention; but their major challenge is they cost more per kilowatt than large reactors.

“.. in the case of SMRs, most designs are purely theoretical ones, and no real reactors have been constructed based on that design,” state the authors. “Going by current trends, they are unlikely to ever be constructed beyond a few prototypes.”

The full World Nuclear Industry Status Report 2020 can be downloaded here.

Closer to home, the House Of Representatives released a report on nuclear energy in Australia late last year, which stated nuclear is a good idea assuming Australians are happy with it – and that’s not likely.