The main problem with nuclear power plants isn’t the radiation or the waste or the risk of accident. It’s that they cost so damn much they’re rarely profitable, especially in open electricity markets. 70-80% of the cost of the electricity is building the plant, and without low interest rates and a guaranteed rate when finished it doesn’t make economic sense to build them.
The latest nuclear plant in the US is in Georgia and is $17 billion over budget and seven years later than expected.
The cost of continued fossil fuel use is far higher.
rarely profitable
Profit should not be the motivation of preventing our climate disaster from getting worse. If the private sector isn’t able to handle it, then the government needs to do so itself.
And besides, the only reason fossil fuels are so competitive is because we are dumping billions of dollars in subsidies for them. Those subsidies should instead go towards things that aren’t killing the planet.
Would it be better to dump billions into nuclear power plants that won’t come online for a decade at least, or to dump billions into renewables that can be online and reducing emissions in under a year?
We should worldwide be putting trillions into both. Renewables should be first priority, but not all locations have good solar, wind, and battery options.
The main problem with nuclear power plants isn’t the radiation or the waste or the risk of accident. It’s that they cost so damn much they’re rarely profitable, especially in open electricity markets. 70-80% of the cost of the electricity is building the plant, and without low interest rates and a guaranteed rate when finished it doesn’t make economic sense to build them.
The latest nuclear plant in the US is in Georgia and is $17 billion over budget and seven years later than expected.
The cost of continued fossil fuel use is far higher.
Profit should not be the motivation of preventing our climate disaster from getting worse. If the private sector isn’t able to handle it, then the government needs to do so itself.
And besides, the only reason fossil fuels are so competitive is because we are dumping billions of dollars in subsidies for them. Those subsidies should instead go towards things that aren’t killing the planet.
Would it be better to dump billions into nuclear power plants that won’t come online for a decade at least, or to dump billions into renewables that can be online and reducing emissions in under a year?
We should worldwide be putting trillions into both. Renewables should be first priority, but not all locations have good solar, wind, and battery options.
That’s your opinion. I think funding nuclear is just burning money and wasting time we don’t have.