“For the seventh year in a row, #renewables have the lowest cost range of any new electricity generation”.

#energy #wind #solar #FossilFuels #nuclear

#CSIRO #AEMO #GenCost #auspol

https://www.csiro.au/en/research/technology-space/energy/GenCost

"The CSIRO has rejected Coalition arguments that #nuclear power plants could be developed in #Australia in less than 15 years and that their long operating life would make them cheaper than other options.

Instead, it has again found that “firmed” solar and wind are the cheapest new electricity options."

https://www.theguardian.com/australia-news/2024/dec/09/csiro-refutes-coalition-case-nuclear-is-cheaper-than-renewable-energy-due-to-operating-life
#GenCost

One Big Chart: how does the cost of nuclear power compare to renewables?
https://www.theguardian.com/news/ng-interactive/2024/may/24/nuclear-power-australia-liberal-coalition-peter-dutton-cost

The chart in this article illustrates the "bang for buck" for electricity generation options. Unsurprisingly, renewables come out ahead, fossil fuels come in the middle, and nuclear is the worst. Don't take my word for it; this comes from scientists who've been working on it for decades at the CSIRO. Another takeaway: don't take Peter Dutton's word for it, either.

#AusPol #PeterDutton #FossilFuel #Wind #Solar #Renewables #RenewableEnergy #Nuclear #NuclearPower #SMR #SmallNuclearReactors #GenCost #CSIRO

https://mastodon.au/@WePlanetAus/112482408946509746

The new version of CSIRO's #GenCost report is out, and for the first time, it includes estimates for the cost of large-scale #nuclear as a power source!

The addition is very welcome, and poses the question: What can we do today to put ourselves in the best position if we choose to add nuclear to our energy mix in the future?

--

Previous GenCost reports estimated that the cost of generating electricity from small modular reactors (SMRs) would be five times greater than for renewables. Pretty spenno.

The new GenCost report estimates that the cost for large nuclear reactors is 𝘵𝘸𝘪𝘤𝘦 that of renewables.

"Twice? That's still a lot more!"

It is, but the GenCost report assumed that these large reactors would pay off their capital costs over 30 years, while noting that assuming a period of 40 years would reduce the cost of electricity from these reactors.

(For reference, many current nuclear power plants have been running for longer than 40 years, with a few over 50 years old. Most in the US are licenced to run for 60 years, and a few for 80 years.)

More than that, though: this edition of GenCost signals an end to the authors' out-of-hand rejection of large-scale nuclear — a normal source of low-emissions energy that provides 10% of the world's electricity.

The #GenCost 2023-24 report released today highlights the need to act now to lift the ban on #nuclear energy and set up a regulatory framework.

Read our full response here:
https://www.weplanetaustralia.org/post/gencost-report-highlights-the-need-to-act-on-nuclear-now