Renewable energy advocates have seized on a report by the Commonwealth Scientific and Industrial Research Organisation as proof that nuclear energy is financially unviable in Australia.
The potential for large taxpayer subsidies is reason to be circumspect about nuclear, despite its appeal in providing reliable, zero emissions power over a very long time.Nuclear power plants provide always-on power for households and businesses for more than 80 years. Solar panels typically last up to about 30 years, after which they are old and inefficient. Wind turbines last up to about 25 years. Batteries for energy storage last up to about 15 years and may in the future reach 20 years.
The CSIRO says it uses 30 years because it is the time commercial finance is usually available before repayment is required. The CSIRO attempts to adjust for the unreliability of renewables in its LCOE estimates by including costs of storage, transmission and firming. “It measures the total unit costs a generator must recover to meet all expenses – plant, equipment, land, raw materials and labour – including a return on investment,” Pearl writes in“It says nothing about the revenue side of the commercial equation: what prices can the generator earn on the wholesale market and, given their costs, what profits can be earned?”
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