According to a report from Mark Diesendorf, the expert from the University of NSW energy, the Nuclear energy is expected to be more costly by the year 2020 and it fails the price test. The paper which was provided during the conference of solar industry in Canbera has discovered the lower priced renewable energy sources such as the onshore wind, landfill gas, etc which are much more cost competitive.
The solar photovoltaics, offshore wind farms and solar thermal are estimated to be less expensive when compared to the nuclear energy by the year 2020. From the year 2002 the cost for developing a nuclear power plant has increased from $US2000 per kw of generation capacity to around $US7400 per kw says the deputy director of the Institute of Environmental Studies, Dr Diesendorf.
The capital cost at present is around US15¢ per kwh of electricity that was generated which is estimated to increase if the current rising rates continue which is by around 20¢ per kwh during the next decade. The estimated figure does not include the nuclear energy subsidies such as decommissioning costs, loan guarantees, etc. The report also shows that there is a great decrease in capital cost of the onshore wind power from $1900 per kw to $1700 per kw and $7000 per kw to $5120 per kw in the solar.
Dr Diesendorf also said the nuclear energy price has increased as the industry was not seen expanding. The share of Nuclear in the power generation globally has decreased to 14% last year when compared to 17% in 2001 and the main improvement has been from the countries such as China, India, South Korea and Russia. There are only 2 reactors in the western countries such as Finland and France are at present under construction which also includes over-time and over-budget.
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