2023-24 GenCost report reveals large-scale nuclear power plants in Australia would generate electricity at twice the cost of renewables.
Australia's GenCost 2023-24 report, released by the CSIRO and Australian Energy Market Operator, reveals that large-scale nuclear power plants would generate electricity at more than twice the cost of renewable sources. The report found that building a 1,000 MW nuclear power plant would cost at least $8.5 billion and take over 15 years to develop due to infrastructure, security, and safety barriers. Renewable energy costs were found to be lowest at $73 to $128 per MWh, while nuclear costs would hit $141 to $233. Nuclear small modular reactors would cost $230 to $382 per MWh.
May 21, 2024
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