King of Cheap Electricity has Fallen RSS Feed

King of Cheap Electricity has Fallen

Nuclear is no longer King of Cheap Electricity. New King is Renewable Energy with Solar taking the lead.

Todays nuclear was originally invented to produce ingredients for weapons and it happend to have a positive by-product “free electricity”. Things have changed during the last seven decades and nuclear is now six times more expensive than solar.

By 2020 the price for solar generated electricity will be two cents per kWh. This compared to UK government is currently negotiating nuclear generated electricity from the Hinkley plant at thirteen cents per kWh starting 2025.

Renewable Energy has been subject to intensive R&D which has improved its efficiency significant. Economies of scale has given lower unit costs and combined it has made Renewable Energy very competitive.

But it is still room for improvements. Much bigger improvements than for fossil and nuclear. Therefore an Apollo like program to develop cleaner, cheaper and stable supply of energy would be beneficial.

Read full article at LinkedIn