Renewable energy sources are cheaper than nuclear power for electricity in Australia, report finds.

The GenCost 2024-25 Report finds that renewable energy sources, like large-scale solar and battery storage, are cheaper than nuclear power for electricity generation in Australia. Nuclear power is estimated to cost 1.5 to 2 times more than renewables. A one-gigawatt nuclear plant could cost up to $18 billion, while similar renewable projects are more affordable and quicker to deploy. The report suggests renewables will remain the cheapest option until 2050. Feedback on the report is open until February 11.

3 months ago
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