Australia's Coalition's nuclear strategy faces commercial viability issues due to renewable energy growth.
The Coalition's proposed nuclear strategy in Australia is considered flawed due to the growth of renewable energy sources. The world has shifted towards a more flexible and diverse energy grid, with solar and wind energy effectively meeting electricity demand when combined with storage and quick-switch technologies. Nuclear power plants cost significantly more to build and maintain than renewable alternatives and have high decommissioning and waste disposal costs. As renewable energy sources become more prevalent, baseload generation like coal and nuclear power becomes less competitive, making the Coalition's nuclear plan less commercially viable.
July 14, 2024
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