<
https://www.pv-magazine.com/2023/08/22/new-research-shows-renewables-are-more-profitable-than-nuclear-power/>
"A group of researchers from the European Environmental Bureau (EEB), the
Stockholm School of Economics (SSE), and the Potsdam Institute for Climate
Impact Research (PIK) have published new research questioning recent efforts to
increase investments in nuclear power, especially in the European Union and the
United States – a political choice justified by the desire to decarbonize
economies as quickly as possible.
However, the researchers show that in terms of cost and speed, renewable energy
sources have already beaten nuclear and that each investment in new nuclear
plants delays decarbonization compared to investments in renewable energies.
“In a decarbonizing world, delays increase CO2 emissions,” the researchers
pointed out.
The researchers considered all planned nuclear capacities and said the increase
in costs from the original project proposals is significant.
For example, they found that the delayed Flammanville project in France saw its
budget increase from €3.3 billion ($3.6 billion) to €13.2 billion, noting that
these figures don't even include the financing costs, which the French Court of
Auditors estimated at €4.2 billion against an initial €1.2 billion.
Another example comes from Finland, where the Olkiluoto plant, which was
originally planned to cost €3 billion, ended up costing around €11 billion. And
this is nothing new. Already in 2014, a study on the comparative costs of
electricity infrastructure found that 97% of the 180 nuclear reactor investment
projects analyzed experienced cost overruns, with an average cost increase of
117% per project.
“Historically high default risk translates into higher interest rates,” the
scientists emphasized. “These two factors make the profitability of nuclear
projects highly dependent on financing conditions.”"
Via Kenny Chaffin.
Cheers,
*** Xanni ***
--
mailto:xanni@xanadu.net Andrew Pam
http://xanadu.com.au/ Chief Scientist, Xanadu
https://glasswings.com.au/ Partner, Glass Wings
https://sericyb.com.au/ Manager, Serious Cybernetics
