Antinuclear

Build renewables, not nuclear’: energy execs reject reactors.

Australia must focus on developing a huge pipeline of renewable energy as it can’t afford to wait for small modular nuclear reactors to become cost-competitive.

THE AUSTRALIAN Colin Packham Energy reporter

Australia must concentrate on developing a massive pipeline of renewable energy as it can’t afford to wait for small modular nuclear reactors to mature and become cost-competitive, energy executives have urged.

“The economics are clear: we need to act now to build wind, solar and batteries, not wait for a more expensive solution that won’t be available for more than a decade, at the earliest,” said Jason Willoughby, the chief executive of Andrew Forrest-owned renewables developer Squadron Energy.

“Renewables are the cheapest form of new-build electricity, including with the investment ­required in transmission infra­struc­ture.

“The consequences and costs are too great not to act.

“Australia simply can’t afford to wait.”

Australia is struggling to meet its ambitious plans to replace its ageing coal power stations with renewable energy, and the federal opposition has proposed converting coal-fired power sites into small modular nuclear reactors to ease the transition.

Federal Energy Minister Chris Bowen recently released modelling showing that 71 small modular reactors would cost $387bn.

He said each megawatt of nuclear-generated electricity would have a capital cost of $18.1m – about $5.4bn per reactor – much higher than $1m for large-scale solar and $2m for onshore wind.

Energy experts said estimates for developing nuclear in Australia matched recent modelling internationally, although some expect costs to fall.

Robin Batterham, chair of the Net Zero Australia Steering Committee and emeritus professor at the University of Melbourne, said that if costs fell nuclear power could become a viable and cost-effective alternative………………………………………………………… ‘Build renewables, not nuclear’: energy execs reject reactors

September 19, 2023 - Posted by Christina Macpherson | energy