Nuclear is not only dangerous, but expensive and unsustainable. Go ask Toshiba. The bulk of this story I pulled from a previous story.
Westinghouse Electric, a unit of Japanese conglomerate Toshiba, filed for bankruptcy on Wednesday, hit by billions of dollars of cost overruns at four nuclear reactors under construction in the U.S. Southeast.
The bankruptcy casts doubt on the future of the first new U.S. nuclear power plants in three decades, which were scheduled to begin producing power as soon as this week, but are now years behind schedule.
Nuclear vs Battery Storage
The authors also say the tool could be used to compare the gains from different investments. For example, the Hinkley Point C nuclear power plant is now projected to cost £19.6bn, and produce 3.2 gigawatt (GW) of power on demand when it is completed in 2025.
If the same amount of money (£19.6bn) were invested in large-scale lithium-ion batteries, by 2025 these would be able to deliver 21-41 GW of power when charged. This is more than ten times the UK’s current electricity storage capacity, enabling the use of significantly more wind and solar energy.
Co-author Dr Iain Staffell, from the Centre for Environmental Policy, said: “This tool allows us to combat one of the biggest uncertainties in the future energy system, and use real data to answer questions such as how electricity storage could revolutionise the electricity generation sector, or when high-capacity home storage batteries linked to personal solar panels might become cost-effective.”