Benjamin SovacoolProfessor, University of Sussex
- University of Sussex
- United Kingdom
Channels contributed to:Behind the Paper
Renewables are now way cheaper per MWh than new nuclear and much faster to build. So while nuclear is "OK" as regards CO2 emissions per MWh (between solar PV above and wind below), renewables make more sense in most cases.
Thanks for commenting! Although this was not the subject of our study, it does seem to make sense. IRENA publishes a comprehensive global look at the costs of renewables, and it does show continued improvements in performance and declines in cost: https://www.irena.org/publications/2020/Jun/Renewable-Power-Costs-in-2019. The best independent international market overview is often considered Lazard’s. Again, wind and solar scale PV are far, far cheaper than nuclear using today’s technology: https://www.lazard.com/perspective/lcoe2019. (They don’t look at hydro). So this would further support that renewables are more cost effective than nuclear power. And even taking the official view in one of the world’s currently most intensely pro-nuclear policy environments, that of the UK, it is also acknowledged that (even when an unfavourable view is taken of integration and storage costs) renewables off a significant overall cost advantage over nuclear power: https://www.gov.uk/government/publications/beis-electricity-generation-costs-2020