Nuclear more costly and could ‘sound the death knell’ for Australia’s decarbonisation efforts, report says

Analysis from Bloomberg New Energy Finance says even if nuclear is successfully implemented it would be ‘at least four times’ more expensive than average cost of renewables

Even if they succeeded, the levelised cost of electricity – a standard industry measure – would be far higher for nuclear power than renewables. Taking existing nuclear industries in western nations into account, their cost would still be “at least four times greater than the average” for Australian wind and solar plants firmed up with storage today, Bloomberg said.