Nuclear Power's Reality Check: Costs & Competition

Todays podcast delves into the reality of new nuclear power, specifically small modular reactors, and its competition with renewables. Despite nuclears low-carbon benefits and energy security, its high costs and slow delivery are causing concerns. The UKs Hinkley Point C project, for instance, required a massive subsidy to be financially viable. Other large nuclear projects have faced delays and cost overruns. The nuclear industrys reliability claims are also questioned by the frequent budget blowouts and political challenges in new construction projects. Even small modular reactors, once hailed as the future, are facing similar hurdles, with many designs remaining theoretical and relying on public subsidies. The energy markets shift towards renewables and storage, driven by abundant renewable energy, further challenges nuclears profitability. Renewables and storage are proving to be faster, cheaper, and more adaptable solutions for our evolving energy needs.The Daily News Now! — Every city. Every story. AI-powered. Hosted on Acast. See acast.com/privacy for more information.